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Credit spread and liquidation value-based debt financing constraint

Shibata, Takashi; Nishihara, Michi - In: International journal of theoretical and applied finance 22 (2019) 5, pp. 1-27

Persistent link: https://www.econbiz.de/10012153003

Bank risk taking, credit booms and monetary policy : conference paper

Afanasyeva, Elena; Guentner, Jochen - 2014 - Very preliminary and incomplete, This version: February 28, 2014

This paper investigates the risk-taking channel of monetary policy on the asset side of banks' balance sheets. We use a factor-augmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, e.g. their collateral requirements for firms, are significantly...

Persistent link: https://www.econbiz.de/10010485247

Heterogeneity in corporate debt structures and the transmission of monetary policy

Holm-Hadulla, Fédéric; Thürwächter, Claire - 2020

find that: bond finance dampens the overall response of firm credit to monetary policy shocks in economies with a high … initial share of bond- relative to bank-based finance; this effect weakens, and may even reverse, in economies with a low … share of bond financing; and the dampening effect of a larger bond financing share also attenuates the ultimate impact of …

Persistent link: https://www.econbiz.de/10012212853

Access to credit and unconventional monetary policy in the Eurozone after the financial crisis

Koráb, Petr - In: Ekonomický časopis : časopis pre ekonomickú … 65 (2017) 6, pp. 520-533

Persistent link: https://www.econbiz.de/10012151827

Heterogeneity in corporate debt structures and the transmission of monetary policy

Holm-Hadulla, Fédéric; Thürwächter, Claire - In: European economic review : EER 136 (2021), pp. 1-22

Persistent link: https://www.econbiz.de/10012696708

Crossing the credit channel : credit spreads and firm heterogeneity

Anderson, Gareth; Cesa-Bianchi, Ambrogio - 2020

Credit spreads rise after a monetary policy tightening, yet spread reactions are heterogeneous across firms. Exploiting information from a panel of corporate bonds matched with balance sheet data for U.S. non-financial firms, we document that firms with high leverage experience a more pronounced...