greater sensitivity of more highly rated credit to variation in the supply of Treasuries. The channel through which this …

Firms in developing countries cite credit constraints as one of their primary obstacles to investment. Direct foreign … investment, by bringing in scarce capital, may ease domestic firms' credit constraints. Alternatively, if foreign firms borrow … heavily from domestic banks, they may exacerbate domestic firms' credit constraints by crowding them out of domestic capital …

The 'credit channel' theory of monetary policy transmission holds that informational frictions in credit markets worsen … components to monetary policy shocks and describe how the credit channel helps explain the facts. We discuss two main components … credit aggregates are not valid tests of this theory …

model presented extends the theory of King and Plosser by recognizing that both money and trade credit provide transactions … services. The model shows that the comovements between money and trade credit can reveal the nature of the underlying shocks …

This paper provides new evidence on the long-term impacts of neighborhood environment on low-income credit decisions by … participants who moved to lower poverty neighborhoods as young children experienced better access to and greater use of credit into … adult and older children experience the same benefits to credit outcomes, we do find they experience improvements in …

We develop a tractable dynamic model of credit markets in which lending standards and the quality of potential … can amplify and prolong temporary downturns, affecting lending volume, credit spreads, and default rates. We characterize … constraints naturally incentivize tight lending standards, further amplifying shocks to credit markets …