Jiménez, Gabriel; Laeven, Luc; Martinez-Miera, David; … - 2022
This paper analyzes the impact of public credit guarantee schemes on the allocation and performance of bank credit … outstanding with the bank before the shock. This effect is more pronounced for risky firms and for firms in more pandemic … firm-bank level, with the share and amount of nonguaranteed (private) credit declining for firms that obtain guaranteed …