provide much collateral. We document that firms partially offset reduced credit supply by establishing new bank relationships … real economy. We investigate the importance of the bank lending and firm borrowing channel in the international … transmission of bank distress to the real economy-in particular, to real investment and labor employment by nonfinancial firms. We …

their credit supply. As a consequence, firms have to downsize their investment spending and labor employment. This way, bank …How important are bank loans for corporate investment? A joint research paper by DIW Berlin, University of Hohenheim … distress spills over to the real economy. However, the reduction in investment is smaller than the reduction in banks' credit …

provide much collateral. We document that firms partially offset reduced credit supply by establishing new bank relationships … real economy. We investigate the importance of the bank lending and firm borrowing channel in the international … transmission of bank distress to the real economy - in particular, to real investment and labor employment by nonfinancial firms …

comparing Wicksell's theory of price level determination in a pure credit economy, the "cumulative process", to the neo … stability with a reformed financial system that maintains credit stability. The paper uses empirical evidence from Sweden and …

' long-term leverage choices and an "interim" inefficiency because it distorts agents' short-term liquidity management. I … derive important implications for central bank policy. …

different liquidity types, central bank liquidity, funding and market liquidity and their relevant risks. In order to understand … the workings of financial system liquidity, as well as the role of the central bank, we bring together relevant literature … bank liquidity can be important in managing a liquidity crisis, yet it is not a panacea. It can act as an immediate but …

the entire interbank network. The rate of system-wide bank failure is rendered endogenous, depending crucially on both the … a sharp transition from a dense network of credit relations to a sparse network where credit freezes readily occur are … characterized. Our results also emphasize the role of hysteresis - once broken, credit relations take a long time to re-establish as …