provide much collateral. We document that firms partially offset reduced credit supply by establishing new bank relationships … real economy. We investigate the importance of the bank lending and firm borrowing channel in the international … transmission of bank distress to the real economy—in particular, to real investment and labor employment by nonfinancial firms. We …

provide much collateral. We document that firms partially offset reduced credit supply by establishing new bank relationships … real economy. We investigate the importance of the bank lending and firm borrowing channel in the international … transmission of bank distress to the real economy - in particular, to real investment and labor employment by nonfinancial firms …

We analyze securities trading by banks and the associated spillovers to the supply of credit. Empirical analysis has … investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at … the security level for each bank in each period, we find that during the crisis, banks with higher trading expertise …

How does bank distress impact their customers' probability of default and trade credit availability? We address this … bank-induced increase of firms' probabilities of default. Moreover, bailouts tend to reduce trade credit availability and … question by looking at a unique sample of German firms from 2000 to 2011. We follow their firm-bank relationships through times …

We analyze securities trading by banks and the associated spillovers to the supply of credit.Empirical analysis has … investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at … the security level for each bank in each period, we find that during the crisis, banks with higher trading expertise …

We analyze securities trading by banks during the crisis and the associated spillovers to the supply of credit. We use … credit register from Germany. We find that - during the crisis - banks with higher trading expertise (trading banks) increase …-rated and long-term securities. Moreover, trading banks reduce their credit supply, and the credit crunch is binding at the firm …

We investigate the importance of firm-bank relationships for the international transmission of bank distress to the … of firms partially offset reduced credit supply by resorting to alternative financing sources …