We study the impact of vertical integration of manufacturing and credit provision on the
propagation of financial shocks in durable good markets. Using a new multicountry dataset …

We quantify the real effects of the bank-lending channel exploiting the dramatic liquidity
drought in interbank markets that followed the 2007 financial crisis as a source of variation in …

We investigate how financial contracting interacts with lending-channel effects by tracing the
anatomy of a credit supply shock using micro-level data from a multinational bank …

Illiquidity in short-term credit markets during the financial crisis might have severely curtailed
the supply of nonbank consumer credit. Using a new data set linking every car sold in the …

While banks may change their credit supply due to bank balance-sheet shocks (the local
lending channel), firms can react by adjusting their sources of financing in equilibrium (the …

Natural disasters exacerbate credit supply constraints in informationally opaque markets
such as those for micro, small, and medium enterprises (MSMEs). To serve these markets …

While banks may change their supply of credit due to bank balance sheet shocks (the local
lending channel), firms can react by adjusting their sources of financing in equilibrium (the …

We explore whether lenders' decisions to provide liquidity in periods of distress are affected
by the extent to which they internalize the negative spillovers of industry downturns. We …

This paper examines the broader effects of the US financial crisis on global lending to retail
customers. In particular we examine retail bank lending in Germany using a unique data set …

This paper studies credit booms exploiting the Spanish matched credit register over 2001–
2009. We extend Khwaja and Mian's (2008) loan-level estimator by incorporating firm-level …