hampered the smooth transmission of accommodative monetary policy. Using bank level data from 2007 to 2015, we directly measure … bank in the same month for loans to small and large firms (the "Small Firm Financing Premium", SFFP). We assess the role … played by both bank and macroeconomic factors in explaining the variation in the SFFP across countries and through time. We …

issuance reduces the probability of SMEs facing credit constraints and decreases the costs of bank financing for nonconstrained …This paper analyzes the impact of securitization on access to finance for small and medium‐sized enterprises (SMEs) in … the euro area. Using firm‐level survey data on SME financing conditions, we show that an increase in securitization …

By employing a sample of 20,956 observations of non-financial SMEs headquartered in the Euro area, between 2009 and … 2015, we test whether young businesses are more likely to face credit rejections from lenders than their older peers. Our … the issue of sample selection bias potentially affecting our data. Additional tests also reveal that credit constraints …

After the global financial crisis and during the European sovereign debt crisis, bank lending to companies in the euro … area slowed down dramatically bringing the economy close to a credit crunch. It was only after the start of the ECB …’s quantitative easing programme in early 2015 that bank lending improved sustainably. The study analyses the impact of the ECB …

After the global financial crisis and during the European sovereign debt crisis, bank lending to companies in the euro … area slowed down dramatically, bringing the economy close to a credit crunch. It was only after the start of the European … Central Bank (ECB) quantitative easing programme in early 2015 that bank lending improved sustainably. This study analyses the …

This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … characteristics. This allows us to study simultaneously the role that bank and firm weakness had in the credit reduction observed in … strong determinants of credit rejections, in the crisis period bank weakness made it harder to obtain external finance for …

We develop a model of bank lending that allows for credit rationing in equilibrium. Recognizing that small firms incur … a higher percentage cost of monitoring than large firms, the model shows that the incidence of bank credit rationing … consistent with a pattern of a differentially greater degree of rationing of credit to small borrowers during the Great Recession …

Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects … on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs … credit demand-side factors. The public mandate is set by local governments and stipulates a deviation from strict profit …

corruption, may affect the access to credit for micro, small, and medium-sized enterprises (MSMEs). Using a sample of 68 …-2014, we investigate whether the level of corruption affects their demand for bank loans. Overall, we find that the degree of … corruption seems to play a role in the applications for bank loans when small firms are under investigation. Interestingly …