Markets Programme (SMP). Using detailed security holdings data at the bank level, we show that banks exposed to this …

Markets Programme (SMP). Using detailed security holdings data at the bank level, we show that banks exposed to this …

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous …

We study whether government subsidies can stimulate bank funding of marginal investment projects and the associated … can use it as an exogenous shock to identify bank responses. On average, firm subsidies do not affect bank lending, but … reduce banks’ distance to default. Average effects conflate important bank-level heterogeneity though. Conditional on various …