ratio since the crisis reflects bottlenecks in the provision of bank credit and (2) the tightened loan supply has been more …

shocks. The results show a sharp deterioration in the credit quality of firms, particularly in the United States and Emerging …

-dealers when they are more profitable. These results allow for a better understanding of banks' credit risk management. …

While some credit booms are followed by economic underperformance, many are not. Can lending standards help separate … good credit booms from bad credit booms contemporaneously? To observe lending standards internationally, I use information … HY share is procyclical, suggesting that lending standards in bond markets are extrapolative. Credit booms with …

We study the relationship between net trade credit and firms' investment levels, focusing on financially distressed … firms. First, we introduce a theoretical model to predict the role played by net trade credit as a coordination device … million firms in 23 EU countries over the period 2004-2014. Our main result is that, whereby net trade credit has an overall …