Chodorow-Reich, Gabriel; Darmouni, Olivier; Luck, Stephan; … - 2020
recession. Consistent with the theory, the increase in bank credit in 2020:Q1 and 2020:Q2 came almost entirely from drawdowns by … large firms on pre-committed lines of credit. Differences in demand for liquidity cannot fully explain the differences in … shorter maturity credit lines than large firms; (ii) have less active maturity management and therefore frequently have …