Steinkamp, Sven; Tornell, Aaron; Westermann, Frank - 2018
Since the beginning of the financial crisis in 2007/8, new lending in the Euro-Area has slowed sharply and the old … heteroscedastic probit model and find that evergreening is higher in: (i) Euro-Area countries than in the rest of the world; (ii) in … countries facing bank distress; and (iii) is highest in countries which experience banking distress and are members of the Euro …