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 … recession. Consistent with the theory, the increase in bank credit in 2020:Q1 and 2020:Q2 came almost entirely from drawdowns by …

While credit is essential for investment, innovation and economic growth, there are risks related to excessive … crisis has highlighted the macroeconomic risks of credit booms. This paper focuses on microeconomic implications of high …

increases the incentive to create jobs. The transmission mechanism of 'credit shocks' is fundamentally different from the … typical credit channel and the model can explain why firms cut hiring after a credit contraction even if they have not …

We study 52 million trade credit contracts, issued by 51 suppliers over 9 years to about 199,000 unique customers. The … analysis contradicts the conventional view that trade credit is an inferior source of funding. Specifically, while we replicate … rather than smaller trade credit usage. In fact, customers' financial conditions are unrelated to agreed contract duration …