Firms choose debt structure and competing banks choose monitoring intensity. Monitoring improves credit allocation, but … creates informational lock-in effects in bank-borrower relationships. In a competitive credit market, banks dissipate … unknown credit quality. Consequently, banks' lending strategies result in cross-subsidies from good to bad borrowers. We …

of credit across loan types. Consistent with economic theory, relationship debt leads to informational capture and higher …

We explore Lithuanian credit register data and two bank closures to provide a novel estimate of firms' bank …

We identify the effects of monetary policy on credit risk-taking using a unique dataset covering the population of …., 2014). The data allow us to distinguish the changes in the supply of credit from the changes in credit demand. In all our …

for the U.K. Thereby, we explicitly disentangle credit supply and demand and allow the interest rate charged on loans to …

It is commonly believed that borrowers cannot be anonymous in unsecured credit relations because anonymity heavily … reduces the scope for punishment and therefore makes credit unfeasible except for very special circumstances. However, we … demonstrate that credit is generally feasible even if borrowers are anonymous. In particular, we construct equilibria where …

payments and financial literacy, as well as markets for health insurance, crop insurance, agricultural credit, small firm …

changes in financial intermediaries' balance sheets for the supply of credit, liquidity and asset prices, and, consequently …