We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We …-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank(s …), we find that increases in Italian banks' CDS spreads and decreases in their equity valuations lead younger and smaller …

By the act of lending banks do not actually intermediate pre-accumulated real resources but rather create new financial … resources in the form of deposits. Therefore, bank credit needs to be modelled as a monetary phenomenon, which directly fuels … domestic demand and inflationary pressures. So far, there have been just a few attempts to model banks as monetary institutions …

We examine the coexistence of banks and financial markets, studying a credit market where the qualities of investment … projects are not observable and the investment decisions of entrepreneurs are not contractible. Standard banks can alleviate … investment banks and rating agencies have screening know-how and can alleviate adverse-selection problems. In competition …

This paper examines the effectiveness of macroprudential regulations in promoting bank stability and credit in the … estimation methodology to achieve its objectives. The study finds that bank stability has remained high, though downward trending …. The findings also reveal that capital-based and asset-side macroprudential regulations effectively promote bank stability …

I address the following issue in this paper: how does information sharing among banks about borrowers affect banks … sharing among banks reduces lenders' risk and results in lower lending rates than any other arrangement. This may be the … rates than any other form of information sharing under fairly general conditions. Despite its lucrative features, banks are …

and bank credit is allocated less efficiently than in France and Germany. Hence capital misallocation by banks can be a …

real economy. Using a large panel of matched financial statements of firms of all sizes and their relationship banks in … Germany, we find that banks with losses from proprietary trading activities during the 2007/8 financial crisis decreased their …

lender. The collapse of the private-label securitization market, banks' risk-management concerns, wealth polarization, post … large banks reacting more to the increased costs of origination imposed by financial regulation …