Kaya, Orcun; Wang, Lulu - 2014
eurozone. By utilizing a unique data set provided by the ECB Bank Lending Survey, we capture the "pure" credit supply effect on … banks reporting considerable tightening on loans leads to around a 7% increase in firms' bond issuance in the eurozone … too. Furthermore, the impact of bank credit tightening on firms' bond issuance is particularly observable in core eurozone …