domestic demand. Therefore, a pure supply side shock con be contrasted with a real economy shock that hit exactly when the bank …'s funding position strengthened again. The paper finds that during the funding shock (potential) borrowers are discouraged from … shock, in contrast, reduces the approval likelihood for SME loans in particular, while agro and micro loans are considerably …

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 … internationally, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off …

This paper studies the dynamics of credit supply when a negative shock impacts a substantial share of bank loans. The …, even though borrower?s CDS spreads were widening. Highly exposed banks amplified this sector-specific shock to the rest of … suppliers. Finally, the energy price shock had a large negative impact on macro outcomes, especially in the capital …