In this article, we review the growing literature on financial technology (FinTech) lending—
the provision of credit facilitated by technology that improves the customer–lender …

New technology promises to expand the supply of financial services to small businesses
poorly served by banks. Does it succeed? We study the response of FinTech to financial …

This paper provides a comprehensive assessment of financial intermediation and the
economic effects of the Paycheck Protection Program (PPP), a large and novel small …

Despite the devastating worldwide human and economic tolls of the COVID-19 crisis, it has
created some positive economic and financial surprises and opportunities for research. This …

A two-sided “credit-line channel”—relating to drawdowns and repayments—explains the
severe drop and partial subsequent recovery in bank stock prices during the COVID-19 …

We analyze the bank supply of credit under the Paycheck Protection Program (PPP). The
literature emphasizes relationships as a means to improve lender information, which helps …

We design and conduct a firm-level survey on the use of COVID-19-related government
programs, in collaboration with Tokyo Shoko Research, LTD (TSR). Combining the survey …

We use the COVID shock to study the direct and interactive effects of several forms of
corporate flexibility on short-and long-term real business plans. We find that i) workplace …

This study estimates random effects and difference-in-difference-in-differences models to
examine the initial impacts of COVID-19 on the employment and hours of unincorporated …

This paper investigates whether the private sector can efficiently allocate public funds during
a crisis. Using loan-level data, we exploit the unique features of the Italian public guarantee …