We review research on the effects of banks on the real economy, including, but not limited to
articles in this Special Issue of the Journal of Corporate Finance. We focus primarily on US …

This paper analyses the effectiveness of monetary policy on bank lending in a low interest
rate environment. Based on a sample of 108 large international banks, our empirical …

Current empirical methods to identify and assess the impact of bank credit supply shocks
rely strictly on multi-bank firms and ignore firms borrowing from only one bank. Yet, these …

The response of major central banks to the global financial crisis has revived the debate
around the interactions between monetary policy (MP) and bank stability. This technical …

This paper investigates the link between corporate debt and investment for a group of five
peripheral euro area countries. Using firm-level data from 2005 to 2014, we postulate a non …

We use the recent financial crisis period to analyse the effect of bank credit tightening on firm
investment. We derive a new set of credit tightening indexes from the ECB Bank Lending …

How do credit shocks affect labor market reallocation and firms' exit, and how does their
propagation depend on labor rigidities at the firm level? To answer these questions, we …

In this article, we review the rapidly growing literature on the real effects of banks' corporate
credit supply. We cover recent methodological advances and provide an in‐depth survey of …

This paper examines how bank taxation affects the financing decisions and investment
activities of corporates. Exploiting exogenous tax variation at the bank level, we show that …

We propose a new methodology to identify aggregate demand and supply shocks in the
bank loan market. We present a model of sticky bank-firm relationships, estimate its …