expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house …

We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial … recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits … interventions aimed at alleviating the bank capital crunch. We find that the growth of firms dependent on external financing is …

We study the effects of credit over the business cycle, distinguishing between expansions and contractions. We find … that there is a growth and risk trade-off in the pace of credit growth over the business cycle. While rapid credit growth … tends to be followed by deeper recessions, we also find that credit growth has a positive impact on the duration of …

We offer new evidence on the real effects of credit shocks in the presence of employment protection regulations by … Germany. Our evidence suggests that labor market flexibility can dampen the negative effect of credit shocks by allowing firms …

that credit dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks …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 easily identifiable and represent the bulk of corporate credit. We show …

show that credit growth dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply …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 easily identifiable and represent the bulk of corporate credit. We …