We develop a model of bank lending that allows for credit rationing in equilibrium. Recognizing that small firms incur … a higher percentage cost of monitoring than large firms, the model shows that the incidence of bank credit rationing … consistent with a pattern of a differentially greater degree of rationing of credit to small borrowers during the Great Recession …

-off in situations with many alternative lenders (booms) and with few alternative lenders (credit crises), and explains how … the results depend on factors such as the severity of a credit crisis, the strength of the firm-bank relationship and the …

these fi rms' future fi nancial performance? (2) Does this predictability vary across different stages of the credit cycle … relationship is primarily present in the expansionary stages of the credit cycle. This suggests that a fi rm's current bank lender … applicants. The fi nding that this primarily occurs in credit cycle expansions is consistent with theory models that predict that …

We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt …

-of-credits pricing by using a sample extracted from a large Tunisian bank credit portfolio. We, thus, find out that only the opaqueness …

business lending in local credit markets. Along the price dimension, our analysis reveals that interest rates increase with … dimension, we observe that more distant borrowers are more likely to experience binding credit limits. We also show that the …

significant discount in their cost of credit. This indicates the interest rate saving effect of IPOs does exist in China, despite …