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We analyze bank supply of credit under the Paycheck Protection Program (PPP). The literature emphasizes relationships as a means to improve lender information, which helps banks manage credit risk. Despite imposing no risk, however, PPP supply reflects traditional measures of relationship...
Persistent link: https://www.econbiz.de/10013222672
We analyze bank supply of credit under the Paycheck Protection Program (PPP). The literature emphasizes relationships as a means to improve lender information, which helps banks manage credit risk. Despite imposing no risk, however, PPP supply reflects traditional measures of relationship...
Persistent link: https://www.econbiz.de/10013251797
Prime money market funds (MMFs) represent a key vulnerability in the financial system. During the last 15 years, they have experienced two severe investor runs, in September 2008 and March 2020, both of which contributed to full-scale financial crises
Persistent link: https://www.econbiz.de/10013291728
The uncertainty in the supplier's material flows has become a norm rather than an exception in supply chains. The supply uncertainty can result in unexpected inventory shortfall, amplifying lost sales. However, the design of inventory replenishment and product pricing policy to mitigate both...
Persistent link: https://www.econbiz.de/10013292954
Persistent link: https://www.econbiz.de/10012648705
In March of 2020, banks faced the largest increase in liquidity demands ever observed. Firms drew funds on a massive scale from pre-existing credit lines and loan commitments in anticipation of cash flow disruptions from the economic shutdown designed to contain the COVID-19 crisis. The increase...
Persistent link: https://www.econbiz.de/10012832463
This paper shows that banks raising deposits in more concentrated markets have more funding stability, which enhances banks' ability to extend longer-maturity loans. We show that banks raising deposits in concentrated markets exhibit less pro-cyclical financing costs and profits, which in turn...
Persistent link: https://www.econbiz.de/10012480109
In March of 2020, banks faced the largest increase in liquidity demands ever observed. Firms drew funds on a massive scale from pre-existing credit lines and loan commitments in anticipation of cash flow disruptions from the economic shutdown designed to contain the COVID-19 crisis. The increase...
Persistent link: https://www.econbiz.de/10012481838
We analyze bank supply of credit under the Paycheck Protection Program (PPP). The literature emphasizes relationships as a means to improve lender information, which helps banks manage credit risk. Despite imposing no risk, however, PPP supply reflects traditional measures of relationship...
Persistent link: https://www.econbiz.de/10012482504
Persistent link: https://www.econbiz.de/10012495569