Mester, Loretta J.; Nakamura, Leonard I.; Renault, Micheline - Federal Reserve Bank of Philadelphia - 2001
data that includes monthly and annual information on small-business borrowers at an anonymous Canadian bank, we provide … evidence that a bank has exclusive access to a continuous stream of borrower data that helps it to monitor the borrower, namely …, the firm's checking account balances at the bank. In this paper, which to our knowledge is the first direct empirical test …