markets and in areas that have fewer bank branches per capita. We also find that the portion of LendingClub loans increases in …

We extend the monetary DSGE model by Gertler and Karadi (2011) with a non-bank financial intermediary to investigate … the impact of monetary policy shocks on aggregate loan supply. We distinguish between bank and non-bank intermediaries … automatically, bank reaction to shocks corresponds to the balance sheet channel. Non-banks are constrained by the available deposits …

This paper proposes a novel measure of financial fragility for shadow bank mortgage lenders and investigates its … implications on credit supply and financial stability. The overall financial fragility of the shadow bank sector has been … fragility and destabilizing effects of shadow bank lenders …

more lax lending policies than banks, we unveil important evidence that nonbanks increased bank borrowing following the …

the bright side of shadow banking in China, i.e., it helps correct bank credit misallocations and thus serves as a second …

This paper argues that bank runs on the shadow banking system was a significant factor in the spread of subprime losses …

In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of …. We argue instead that NBFI and bank businesses and risks are so interwoven that they are better described as having … contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) Empirical work confirms bank-NBFI linkages …