thrive on the expense of others. Our results suggest that better access to credit can improve the allocation of resources …Brazil's 2005 bankruptcy law reform strengthened creditor protection, resulting in a substantial acceleration of credit …-creditor reform affected the allocation of resources across firms. We find evidence that the reform was particularly effective in …

bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By … also redirect existing credit to more productive entrants. This reduces banks' dependence on household deposits that are …

bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By … also redirect existing credit to more productive entrants. This reduces banks’ dependence on household deposits that are …

allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a … quasi-experimental research design, we document misallocation of bank credit inside the network, with state-owned banks … engaging most actively in crony lending. The aggregate cost of credit misallocation amounts to 0.13 percent of annual GDP. Our …

elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to … firms inside the network. Using a quasi-experimental research design, we document misallocation of bank credit inside the …

-sheet insolvency whereas a zombie firm is a distressed company that has received new credit. We carry out several analyses to test the … receiving new credit. However, the main bank of a distressed firm is more reluctant to restrict the credit supply to this firm …

whereas a zombie firm is a distressed company that has received new credit. We carry out several analyses to test the validity … receiving new credit. However, the main bank of a distressed firm is more reluctant to restrict the supply of credit to such …

This paper proposes a tractable way to incorporate lending standards ("credit qualification thresholds") into macro … rate sufficiently compensates banks for the borrowers' default risk. Firms denied credit cut employment and labor … credit supply disruptions. That is, for the same increase in credit spreads, output falls faster when denial rates are …