We study the existence and economic significance of bank lending channels that affect employment in U.S. manufacturing industries. In particular, we address the question of how a dramatic worsening of firm and consumer access to bank credit, such as the one observed over the Great Recession,...

The collapse of the inter-bank lending market has reduced the global liquidity available, most banks, especially those with limited deposit bases, have raised funds even on short maturities. Project finance and PPP lending are competing for scarce regulatory capital allocations with more...