declined by 5.4% and remained lower for several years. The decline in credit supply eventually led to a decrease in the number … credit supply shocks can have persistent adverse effects on labor …

declined by 5.4% and remained lower for several years. The decline in credit supply eventually led to a decrease in the number … credit supply shocks can have persistent adverse effects on labor …

This paper studies how organizational downsizing in a bank affects loan officer specialization and the credit default …-natural experiment, in which the resulting borrower reallocations changed the industry specialization levels of the remaining loan … officer specialization causes an increase in default rates due to an inferior production of default risk information and …

episodes of bank specialization. We use the banks’ real loan allocation worldwide instead of the in-sample data to compute a … bank specialization. We find that firms borrowing from banks with high specialization levels incur lower bank loan spreads …'s sector is the same as its banks' specialized sector. However, this rent would transfer to a discount once the bank is highly …

opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution … with bank credit and to a diversification of corporate funding sources. Studying their ex-post performance, we find that …