This study investigates whether fluctuations in credit supply in a macroeconomy and a relational bank's financial … effects of credit market tightness are more evident for small firms. Examining firm-bank matched data, we also find that … suggesting that a bank's financial weakness places the leverage of relationship firms into a suboptimal level for a long period …

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …

the security level for each bank in each period, we find that during the crisis, banks with higher trading expertise … reduce lending relative to other banks. This effect is more pronounced for trading-expertise banks with higher capital, and …

level. All of the effects are more pronounced for trading banks with higher capital levels. Finally, banks use central bank …