bank lending is surprisingly underexamined, given the central importance ascribed to this channel of contagion by … quarterly to the Bank of England. I find that the shock to foreign funding caused a substantial pullback in domestic lending …

This paper tests the role of different banks� liquidity funding structures in explaining the bank failures that … recognizes that the new liquidity framework proposed by the Basel Committee on Banking Supervision appears to have the features … needed to strengthen banks� liquidity conditions and improve financial stability. Its correct implementation, together with …

' long-term leverage choices and an "interim" inefficiency because it distorts agents' short-term liquidity management. I … derive important implications for central bank policy. …

-sheet characteristics, such as its leverage, the maturity structure of its debt, and the liquidity and riskiness of its asset portfolio …. They also show how the framework can be applied to examine current policy issues, including liquidity requirements …

The crisis of the advanced economies in 2008-09 has focused new attention on money and credit fluctuations, financial … crises, and policy responses. We study the behavior of money, credit, and macroeconomic indicators over the long run based on … half of the twentieth century as shown by a decoupling of money and credit aggregates. We show for the first time how …

shows the impacts of credit rationing and tightening credit conditions, even in the syndicated loans market. We investigate … previously developed relationship with a lead bank obtained a lower spread and a longer maturity during the financial crisis but …

central banks that have been significantly affected by the crisis: the Eurosystem, the Federal Reserve System and the Bank of …

This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental … ability of other operating firms to obtain financing. In such an economy, an inefficient credit market freeze may arise in … getting an economy out of an inefficient credit market freeze. In particular, we study the effectiveness of interest rate cuts …

Firms commonly spread out their debt expirations across time to reduce the liquidity risk generated by large quantities … runs. Our model characterizes fundamental volatility, asset illiquidity, reliability of credit lines, and debt maturity as …