firms in the non-financial sector. It finds that bank competition has an overall positive effect on firm creation. However … firms, it also finds that asymmetric information limits the overall positive effect of bank competition on firm creation …. Indeed, bank competition is less favorable to the emergence of new firms in industrial sectors where informational …

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash …, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the … deposits, and can be interest-bearing: a CBDC that closely competes with deposits depresses bank credit and output, while a …

We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use … lower collateral values, banks reallocate their portfolios away from commercial loans toward other assets, primarily … residential real estate loans and liquid assets. This effect is more pronounced for large and less well capitalized banks and is …

, and thus are typically bank-dependent, also perform relatively worse during banking crises. The differential effects …

Following a period of privatization and restructuring, commercial banks in Central and Eastern Europe and, more … expansion, assesses future trends, and evaluates its policy implications. It concludes that bank credit to the private sector is …

This paper presents theory and evidence on the dynamic relationship between aggregate bank lending and interest rate … consuming. It shows that the response of bank lending to changes in money market rates is likely to be asymmetric and depends … crucially on two structural parameters: the speed at which new loans become available, and the speed at which banks recall …

allocated to lower capitalized and less profitable banks. As of end-2017, only a few countries had fully divested the initial … liquid banks, and in countries where the economy recovered faster. In countries where the government stake remained high …