Banking-Credit

David Rivero · Hugo Rodríguez Mendizábal

Layer 1: Overview This paper demonstrates that the canonical efficiency result of Diamond and Dybvig (1983) — that banks using maturity transformation can decentralize the first-best risk-sharing …

Hanfeng Chen · Maria Elena Filippin

The paper analyzes the implications of introducing a retail central bank digital currency (CBDC) that competes with commercial bank deposits for household liquidity, in a model where banks must post …

Fabian Gogolin · Ivan Lim · Francesco Vallascas

This paper studies what happens to local banking markets when a small bank suffers a successful cyberattack, using a stacked difference-in-differences design on 16 cyber incidents at small U.S. banks …

Jeffrey Chiang · Reka Zoch

This paper develops a sufficient statistics approach to measuring the aggregate demand effects of financial intermediation disturbances — shocks to the ability of financial intermediaries to supply …

Kristian S. Blickle · Sarah N. Hamerling · Donald P. Morgan

Using FEMA disaster declarations matched to SHELDUS property-damage estimates and Call Report data for 1995–2018, this paper finds that weather disasters — even at their most severe — have had modest …

Sebastian Doerr · Thomas Drechsel · Donggyu Lee

The paper establishes a causal link from rising top income shares to reduced net job creation at small firms, working through a bank funding channel rooted in non-homothetic household portfolio …

Chenyu Shan · Dragon Yongjun Tang · Wenya Wang

Third-party loan guarantees—in which a fee-charging guarantor formally guarantees a bank loan and conducts its own due diligence on the borrower—are present in approximately 10% of Chinese bank loans …

Scott T. Nelson

The 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act barred credit card lenders from discretionarily raising borrowers’ interest rates in response to new information. …

Kenan Huremović · Gabriel Jiménez · Enrique Moral-Benito · José-Luis Peydró · Fernando Vega-Redondo

This paper provides the first integrated empirical analysis of how bank credit supply shocks propagate through both the production network and the financial network simultaneously, using the universe …

Pedro Bordalo · Nicola Gennaioli · Andrei Shleifer · Stephen J. Terry

This paper incorporates diagnostic expectations — beliefs that overweight the representativeness of recent data, formalized as $E_t^\theta(A_{t+1}) = E_t(A_{t+1}) + \theta[E_t(A_{t+1}) - …

Benjamin L. Collier · Cameron M. Ellis · Benjamin J. Keys

Layer 1: Overview This paper estimates the shadow cost that consumers assign to pledging their primary residence as collateral, using administrative loan application and performance data from the U.S. …

IVAN LIM · JENS HAGENDORFF · SETH ARMITAGE

Using closures of U.S. bank regulatory offices between 2002 and 2013 as difference-in-differences shocks to the physical proximity between supervisors and the community banks they oversee, the paper …

Yuliyan Mitkov · Ulrich Schüwer

This paper documents that U.S. metropolitan statistical areas with higher income inequality have a larger share of failed banks, higher average bank default probabilities, and greater dispersion of …