Amiti, Mary; Weinstein, David E. - C.E.P.R. Discussion Papers - 2013
methodology to separate firm credit shocks from loan supply shocks using a vast sample of matched bank-firm lending data. We … decompose loan movements in Japan for the period 1990 to 2010 into bank, firm, industry, and common shocks. The high degree of … role for granular shocks as in Gabaix (2011). As a result, idiosyncratic bank shocks i.e., movements in bank loan supply …