-driven consumption boom, in which I construct a randomized credit line extension that isolates selection and interest rate effects, and … effects of credit, and that the propensity to borrow and spend out of credit remains quantitatively large for those with … in response to a credit constraint that may bind in the future; and the other invoking behavioral explanations based on …

I design a large-scale field experiment that constructs a randomized credit limit extension isolating selection … by the third year. The effects extend to those far from the limit, those who had the new limits as available credit, and …

Credit default swaps (CDS) played an important role in the financial crisis of 2008. While CDS can be used to hedge … proposed to limit such speculative use. Here, we provide the first controlled experiment analyzing the pricing of credit …

Prior studies find mixed evidence about the substitution relation between bank credit and trade credit. In this paper … increases in the availability of bank credit affect trade credit. We find that firms with higher credit risk increased their use … of bank credit and reduced their use of trade credit after the 2004 bank interest rate ceiling deregulation, whereas …