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We study the composition of bank loan portfolios during the transition of the real sec-tor to a knowledge economy where firms increasingly use intangible capital. Exploiting heterogeneity in bank exposure to the compositional shift from tangible to intangible capital, we show that exposed banks...
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Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real …
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expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house …
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changes. Theoretically, it proposes and solves a stochastic matching model where credit expansion and contraction are time …
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Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet … impaired financial intermediation is the culprit. Creditless recoveries are more common after banking crises and credit booms …
Persistent link: https://www.econbiz.de/10013128140
Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet … impaired financial intermediation is the culprit. Creditless recoveries are more common after banking crises and credit booms …
Persistent link: https://www.econbiz.de/10013128396