bargaining power in default, operating in more competitive product markets, and facing lower credit supply are more likely to …

that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …

) in 2011. We find that US firms experience a reduction in credit lines but not in term loans from EU banks. In addition …, US firms are able to compensate for the reduction in credit lines from EU banks by securing liquidity facilities from US …

" approach to study how lender composition and willingness to provide credit affect the relationship between credit expansions … and real activity. A key advantage of jointly modeling the demand for and supply of credit is the ability to evaluate … equilibrium elasticities of credit quantities with respect to variables of interest. We document that the sectoral composition of …

private firms. During the credit boom in 2009 and 2010, the large and state-owned firms increase leverage ratios by 2.26% and …

leverage on GDP, credit and the interest rate spread. Increasing capital requirements for banks should therefore have no strong …

find that: bond finance dampens the overall response of firm credit to monetary policy shocks in economies with a high …