bank specialization into account when selecting their lending banks, and that credit supply shocks disproportionately … affect a firm's exports to markets where the lender specializes in. Thus, bank specialization makes credit difficult to …We develop an empirical approach for identifying specialization in bank lending using granular data on borrower …

used during a credit boom to reduce the expected costs of a financial crisis …

are usually preceded by credit booms. Second, credit booms often do not result in a crisis. That is, there are "good …

considerations influence credit allocation in a politically mature system like the United States without the formal possibility of …

We show that stricter bank liquidity standards can trigger unintended credit booms when there is heterogeneity in … strategic responses that also change the allocation of lending across markets. More credit is generated per unit of savings in …

separate firm-borrowing shocks from bank-supply shocks using a vast sample of matched bank-firm lending data. We decompose … aggregate 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). We show that idiosyncratic granular bank-supply shocks explain 30-40 percent …

. In a financial crisis bank health is significantly damaged. Post-crisis regulatory changes have aimed at restoring bank … health, but measuring bank health by Tobin's Q, we find that the ill health of banks in the recent U.S. financial crisis and … by the state of the macro-economy. The results seem to suggest that bank regulatory changes may be repressive …

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …

unemployment and bank lending standards when both variables are jointly endogenously determined in a system of simultaneous …