We model 1927-1997 U.S. business failure rates using a time series approach based on unobserved components. Clear evidence is found of cyclical behavior in default rates. The cycle has a period of around 10 years. We also detect longer term movements in default probabilities and default...

This paper considers how increases in individual banks' capital requirements affect borrowing and growth at the firm-level. Using a novel data set of regulatory injunctions to Danish banks' individual capital requirements, I find evidence that an increase to the minimum capital requirement of a...

This paper examines the sensitivity of NFC lending to banks' capital ratios and their supervisory capital requirements. We use a unique database for the French banking sector between 2003 and 2011 combining confidential bank-level Bank Lending Survey answers with the discretionary capital...