Credit supply - Identifying balance-sheet channels with loan applications and granted loans

Arbeitspapier

To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and all loans granted in Spain. We find that during the period analyzed both worse economic and tighter monetary conditions reduce loan granting, especially to firms or from banks with lower capital or liquidity ratios. Moreover, responding to applications for the same loan, weak banks are less likely to grant the loan. Our results suggest that firms cannot offset the resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account for unobserved time-varying firm heterogeneity in loan demand and quality.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ECB Working Paper ; No. 1179

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Business Fluctuations; Cycles ; Financial Markets and the Macroeconomy ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Financial Institutions and Services: Government Policy and Regulation
• Thema: business cycle ; capital ; credit channel ; credit supply ; financial accelerator ; firm borrowing capacity ; liquidity ; monetary policy ; net worth ; non-financial and financial borrower balance-sheet channels ; Unternehmensfinanzierung ; Kreditmarkt ; Bank ; Unternehmensanleihe ; Liquiditätsbeschränkung ; Spanien

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Jiménez, Gabriel ; Ongena, Steven ; Peydró, José-Luis ; Saurina, Jesús
• Ereignis: Veröffentlichung
• (wer): European Central Bank (ECB)
• (wo): Frankfurt a. M.
• (wann): 2010

Weitere Informationen

• Handle: http://hdl.handle.net/10419/153613
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ