cutting back on lending but also by reallocating credit to firms in financial distress with prior underreported loan loss … credit reallocation leads to a reallocation of production factors across firms. A partial equilibrium exercise suggests that …

find that: bond finance dampens the overall response of firm credit to monetary policy shocks in economies with a high …

effect of the reforms on overall credit supply, while at the same time documenting a substantial decline in borrower- and …

bank-firm level credit data, we show that banks reallocate credit within their loan portfolio in at least three different … which they are more specialized. Third, they reallocate credit towards low-risk firms. These reallocation effects are … transmission of the funding shock to credit supply by 22, 8 and 10%, respectively. …

between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping … generations of entrepreneurs under complete and incomplete credit markets. Then, we exploit firm-level data for France, Germany … and Italy to explore the relation between bank credit and productivity following the main derivations of the model. We …