loan officers' compensation, banks' use of soft information in credit approval, and their lending standards. When … more competition, banks lower lending standards, may choose to disregard soft and use only hard information in their credit …

We identify the effects of exogenous credit constraints on firm ability to attract and retain skilled workers. To do so … norms. Using bank-firm credit exposures that we match with a census of all Portuguese employees, we show that firms in a … likely to exit and less likely to join affected firms. Overall, credit market frictions might have long lasting effects on …

restrictions and the credit spread as a threshold variable using the example of the Czech Republic. We find that while there is no … to differ in low and high credit spread regimes. Responses in the opposite direction (i.e. from the financial sector to … the real economy) are procyclical and similar irrespective of regime. A positive shock to credit and a negative shock to …

Credit risk models used in quantitative risk management treat credit risk analysis conceptually like a single person … decision problem. From this perspective an exogenous source of risk drives the fundamental parameters of credit risk … of many market participants: They are endogenous. We develop a general equilibrium model with endogenous credit risk that …

between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping … generations of entrepreneurs under complete and incomplete credit markets. Then, we exploit firm-level data for France, Germany … and Italy to explore the relation between bank credit and productivity following the main derivations of the model. We …

We show that negative policy rates affect the supply of bank credit in a novel way. Banks are reluctant to pass on …