that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …

effect on the level of bank credit. Second, countries with a German legal origin have higher ratios of loans to GDP than …

How do different types of debt influence firm credit risk? This paper sheds new light on this issue by decomposing the … leverage ratio into market debt, bank debt, and trade credit leverage ratios by balance sheet account type classification; and …, 1984) suggests that these debt types differ in terms of the information asymmetry. Therefore, their effects on credit risk …

show a shock to the marked-to-market (MTM) value of bank exposures to sovereign debt led to credit tightening in 2010 … to market, I explore the transmission channels of the unrealized losses on credit supply. I show that a shock to MTM …

This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … characteristics. This allows us to study simultaneously the role that bank and firm weakness had in the credit reduction observed in … the euro area during the sovereign debt crisis, and in credit developments characterising the post-crisis recovery …