documents a growing role of non-bank financial intermediaries in the provision of credit to NFCs. After exploring supply and … reallocation of credit to other sectors or assets. This could generate greater systemic risk through unsustainable valuations or …

We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a …

. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank …

. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank …

The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it. In this paper, we … provide an empirical and theoretical analysis of the credit boom and the macroeconomic context in which it developed. We find … economies in which it took place. We show that this type of credit and financial cycle is hard to reconcile with existing …

show that the incidence of inefficient credit termination and subsequent firm liquidation is contingent on the borrower … inefficient credit decisions than monopoly relationship lending or homogeneous multiple banking, provided that the relationship …

Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In … the resulting equilibrium, money and credit coexist in decentralized markets if the use of credit is costly. Our analysis …