initially raises housing credit demand and crowds out credit to non-housing firms. If the bubble lasts, however, housing credit … repayments raise banks' net worth and expand credit supply, so that crowding-out eventually gives way to crowding-in. This is … consistent with evidence from the recent Spanish housing bubble. Initially, credit growth of non-housing firms was lower at banks …

and firm-specific measures of upstream and downstream exposure, we construct firm-specific exogenous credit supply shocks … and estimate their direct and indirect effects on real activity. Credit supply shocks have sizable direct and downstream … corroborate the importance of network effects in quantifying the real effects of credit shocks and show that real effects vary …

Using credit-registry data for Spain and Peru, we document that four main types of commercial credit—asset-based loans …, cash-flow loans, trade finance and leasing—are easily identifiable and represent the bulk of corporate credit. We show that … credit dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks previously …

Using credit-registry data for Spain and Peru, we document that four main types of commercial credit — asset …-based loans, cash flow loans, trade finance and leasing — are easily identifiable and represent the bulk of corporate credit. We … show that credit growth dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply …

initially raises housing credit demand and crowds out credit to non-housing firms. If the bubble lasts, however, housing credit … repayments raise banks' net worth and expand credit supply, so that crowding-out eventually gives way to crowding-in. This is … consistent with evidence from the recent Spanish housing bubble. Initially, credit growth of non-housing firms was lower at banks …

specific credit supply shocks following Amiti and Weinstein (2018) and estimate their impact on firms' exports at the product …-destination level. According to our estimates, credit supply shocks have sizable effects on both the intensive margin (amount exported …

-employee literature. We construct firm-specific exogenous credit supply shocks and estimate their direct and indirect effects on real … activity using firm-specific measures of upstream and downstream exposure. Credit supply shocks have sizable direct and … crisis. In terms of mechanisms, trade credit extended by suppliers and price adjustments play a role in accounting for …

Using credit-registry data for Spain and Peru, we document that four main types of commercial credit –asset-based loans …, cash flow loans, trade finance and leasing–are easily identifiable and represent the bulk of corporate credit. We show that … credit growth dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks …

Using credit-registry data for Spain and Peru, we document that four main types of commercial credit—asset-based loans …, cash-flow loans, trade finance and leasing—are easily identifiable and represent the bulk of corporate credit. We show that … credit dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks previously …