of temptation and commitment is identified using data on consumption, liquid assets, and housing wealth over the life … need for commitment. Preference for illiquidity has important implications for the consumption response to unexpected …

large firms on pre-committed lines of credit. Differences in demand for liquidity cannot fully explain the differences in … shorter maturity credit lines than large firms; (ii) have less active maturity management and therefore frequently have … expiring credit; (iii) post more collateral on both credit lines and term loans; (iv) have higher utilization rates in normal …

credit. Using a comprehensive Swedish panel dataset on product-level transaction prices and firm-characteristics, we relate … trade credit issuance to price setting. In a recession characterized by tightened credit conditions, we find that prices … increase significantly more on products sold by firms issuing more trade credit, reflecting their larger exposures to increased …

fundamentals or a small revision of beliefs can create a self-reinforcing feedback loop that impairs credit provision, lowers asset … prices, and depresses economic activity and inflation. Finally, monetary policy may affect the buildup of vulnerabilities …