premium relative to the bond-implied credit spread. In a sample of secured term loans to noninvestment-grade firms, the …' willingness to pay for bank credit and raises questions about the nature of competition in the loan market …

stressed credit markets and confirms their superior performance in explaining the behavior of Credit Default Swap rates for the …

We investigate how the introduction of market-based pricing, the practice of tying loan interest rates to credit …

We investigate how the introduction of market-based pricing, the practice of tying loan interest rates to credit …

Productive firms can access credit markets directly by issuing corporate bonds or by borrowing through financial … intermediaries. In this paper, we study the cyclical properties of corporate credit provision through these two types of debt … instruments in major advanced economies. We argue that the cyclicality of corporate credit is closely related to the cyclicality …

" approach to study how lender composition and willingness to provide credit affect the relationship between credit expansions … and real activity. A key advantage of jointly modeling the demand for and supply of credit is the ability to evaluate … equilibrium elasticities of credit quantities with respect to variables of interest. We document that the sectoral composition of …