Aggregate US bank lending to firms expands following several adverse macroeconomic
shocks, such as the outbreak of COVID-19 or a monetary policy tightening. Using loan-level …

This paper studies whether distance shapes credit allocation by estimating the impact of
bank branch closings during the 2000s on local access to credit. To generate plausibly …

Using data on bank-firm relationships in Italy during the Eurozone financial crisis, we show
that:(i) compared to healthy banks, under-capitalised banks cut credit to healthy but not to …

To study the impact of macroprudential policy on credit supply cycles and real effects, we
analyze dynamic provisioning. Introduced in Spain in 2000, revised four times, and tested in …

Banks' exposure to large-scale asset purchases, as measured by the relative prevalence of
mortgage-backed securities on their books, affects lending following unconventional …

The way in which a newly synthesized polypeptide chain folds into its unique three-
dimensional structure remains one of the fundamental questions in molecular biology …

We study whether the solvency problems of Spain's weakest banks in the Great Recession
have caused employment losses outside the financial sector. Our analysis focuses on the …

Using credit-registry data for Spain and Peru, we document that four main types of
commercial credit—asset-based loans, cash flow loans, trade finance and leasing—are …

In October 2010, the state government of Andhra Pradesh, India, issued an emergency
ordinance, bringing microfinance activities in the state to a complete halt and causing a …

We explore the real effects of bank-lending shocks and how they permeate the economy
through buyer-supplier linkages. We combine administrative data on all Spanish firms with a …