) 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 …

, more local earners choose foreign currency loans, as they do not bear the full cost of the corresponding credit risk. This …

We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output … are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles …, that is, expansions in credit that are backed not by expectations of future profits (i.e.fundamental collateral), but …

We analyze the transmission of bank-specific liquidity shocks triggered by a credit rating downgrade through the … lending channel. Using bank-level data for US Bank Holding Companies, we find that a credit rating downgrade is associated …

-term credit flows can be excessive and reverse suddenly. The equilibrium outcome is constrained inefficient due to pecuniary …

portion of its loans to the debtor country to be used to neutralise some or all of the additional credit risk caused by the …