This paper estimates the amount of tightening in bank C&I loan rates during the financial crisis. After controlling for loan characteristics and bank fixed-effects, the average C&I loan spread was about 61 basis points higher in 2009:Q4 than an otherwise similar loan made under the average...

The international transmission of shocks in the global financial system has always been an important issue for policy makers. Different types of foreign shocks have different effects and policy implications. In this paper, we examine the effects of the recent U.S. financial crisis and the...