based on the theory of relationship lending and lending technologies …

We model how an information asymmetry between the lending bank and the applying firm about the currency structure of …

We present a banking model with imperfect competition in which borrowers' access to credit is improved when banks are … of CRT generally increases welfare in our setup. However, under private information, higher competition induces an …

We study how competition between banks and non-banks affects lending standards. Banks have private information about … in bank capital requirements. Intuitively, higher capital requirements raise banks' skin in the game and screening out …

We study the effects of asymmetric information and imperfect competition in the market for small business lines of … credit. We estimate a structural model of credit demand, loan use, pricing, and firm default using matched firm-bank data …

Banks produce short-term debt for transactions and storing value. The value of bank money must not vary over time so … information about the bank's loans. To produce safe liquidity banks choose loans with high such costs. Capital markets cannot … produce substitutes for bank money because they involve information revelation. They produce risky liquidity. This trade …