Temesvary, Judit; Wei, Andrew - 2021
Shortly after the onset of the pandemic, U.S. banks cut their term lending to businesses–but little is known about how … much, and why, banks' choice to ration credit contributed to this contraction. Afforded by a unique combination of several … balance sheet "shock" that affects only banks' credit supply, but not their US borrowers' demand for loans. We find that US …