's credit decisions affect their future income. We use the bank's cutoff rule, which is based on the applicants' credit scores … acceptance increases recipients' income five years later by more than 10 percent compared to denied applicants. This effect is … mostly driven by the use of borrowed funds to undertake investments, and is stronger when individuals are more credit-constrained. …

question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …

question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …

To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning … differentially. We find that dynamic provisioning smooths credit supply cycles and, in bad times, supports firm performance. A 1 … percentage point increase in capital buffers extends credit to firms by 9 percentage points, increasing firm employment (6 …

question, we identify the compositional changes in banks’ supply of credit using the variation in their holdings of residential …