exploit GFC shocks and Brazilian interventions in FX derivatives using three matched administrative registers: credit, foreign … credit flows to banks, and employer-employee. After U.S. Federal Reserve Taper Tantrum (followed by strong Emerging Markets FX … depreciation and volatility increase), Brazilian banks with larger ex-ante reliance on foreign debt strongly cut credit supply …

exploit GFC shocks and Brazilian interventions in FX derivatives using three matched administrative registers: credit, foreign … credit flows to banks, and employer-employee. After U.S. Federal Reserve Taper Tantrum (followed by strong Emerging Markets … credit supply, thereby reducing firm-level employment. However, a large FX intervention program supplying derivatives against …

central bank interventions in FX derivatives using three matched administrative registers: credit, foreign credit to banks … foreign debt cut credit supply, thereby reducing firm-level employment. A subsequent large policy intervention supplying …

To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and … resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …-sheet channels ; financial accelerator ; firm borrowing capacity ; credit supply ; business cycle ; monetary policy ; credit channel …

To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and … resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …

To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and … resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …