Showing 11 - 20 of 24
This paper identifies the effect of financing constraints on firms’ labor demand. We exploit exogenous funding shocks to German savings banks during the US mortgage crisis that are unrelated to local conditions. We find that firms with credit relationships with affected banks experienced a...
Persistent link: https://www.econbiz.de/10011605866
This paper studies the causal effect of gender bias on access to bank credit. We extract an exogenous measure of gender … are more frequently discouraged from applying for bank credit and more likely to rely on informal finance. At the same … not driven by credit risk differences between female- and male-owned firms or by any idiosyncrasies in the set of …
Persistent link: https://www.econbiz.de/10011605867
We exploit regional variation in US house price fluctuations during the boom-bust cycle of the 2000s to study the impact of the housing cycle on young Americans' choices related to education and employment. We find that in MSAs which experienced large increases in house prices between 2001 and...
Persistent link: https://www.econbiz.de/10011605937
We exploit regional variations in house price fluctuations in the United States during the early to mid-2000s to study the impact of the housing boom on young Americans' choices related to home ownership, household formation, and fertility. We also introduce a novel instrument for changes in...
Persistent link: https://www.econbiz.de/10011605955
?owned banks and for banks with low initial holdings of domestic sovereign bonds, and it is not fuelled by Central Bank liquidity … provision. Our results point to a “moral suasion” mechanism, and cannot be explained by concurrent risk?shifting, carry …
Persistent link: https://www.econbiz.de/10011605982
between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms … underlying the relationship between MP and bank stability. It does so by reviewing microeconometric studies from the academic … touchstone. First, it provides a brief overview of the main theoretical channels linking bank stability and the transmission of …
Persistent link: https://www.econbiz.de/10012422039
more at firms expecting bank credit to improve in the future. Three separate unconventional policies by the ECB- the OMT … banks that were expected to increase SME lending due to the policy. Our results enhance our understanding of the bank …
Persistent link: https://www.econbiz.de/10012661626
environ-mental regulation and bank supervision. … with large prior fossil-lending exposures, suggesting a role for bank specialization. Lending to private companies in …
Persistent link: https://www.econbiz.de/10014374402
We exploit election-driven turnover in State and local governments in Germany to study how banks adjust their securities portfolios in response to the loss of political connections. We find that local savings banks, which are owned by their host county and supervised by local politicians,...
Persistent link: https://www.econbiz.de/10011916850
We offer new evidence on the real effects of credit shocks in the presence of employment protection regulations by exploiting a unique provision in Spanish labor laws: dismissal rules are less stringent for Spanish firms with fewer than 50 employees, lowering the cost of hiring new workers....
Persistent link: https://www.econbiz.de/10011916870