IDEAS home Printed from https://ideas.repec.org/f/c/psu303.html

Amir Sufi

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Atif Mian & Amir Sufi, 2010. "Household Leverage and the Recession of 2007–09," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 58(1), pages 74-117, August.

    Mentioned in:

    1. Le château de dette
      by ? in D'un champ l'autre on 2014-05-30 04:14:00
  2. Atif Mian & Amir Sufi, 2011. "House Prices, Home Equity-Based Borrowing, and the US Household Leverage Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 2132-2156, August.

    Mentioned in:

    1. Le château de dette
      by ? in D'un champ l'autre on 2014-05-30 04:14:00
  3. Atif Mian & Amir Sufi, 2014. "House Price Gains and U.S. Household Spending from 2002 to 2006," NBER Working Papers 20152, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Le château de dette
      by ? in D'un champ l'autre on 2014-05-30 04:14:00
  4. Atif R. Mian & Ludwig Straub & Amir Sufi, 2020. "Indebted Demand," NBER Working Papers 26940, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. COVID-19 Economic Downturn: What do cyclical norms suggest?
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2020-04-19 18:42:37
  5. Atif R. Mian & Amir Sufi, 2012. "What explains high unemployment? The aggregate demand channel," NBER Working Papers 17830, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Still Riding the GSE Train
      by Kim Schoenholtz in Money, Banking and Financial Markets on 2014-05-05 18:16:46
  6. Atif Mian & Amir Sufi, 2010. "The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program," NBER Working Papers 16351, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Why Rick Perry Should Like Alan Krueger, Obama’s New Economic Chief
      by Mark Bergen in Mark Bergen (Econometro) on 2011-09-01 01:08:02

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Atif Mian & Amir Sufi & Francesco Trebbi, 2010. "The Political Economy of the US Mortgage Default Crisis," American Economic Review, American Economic Association, vol. 100(5), pages 1967-1998, December.

    Mentioned in:

    1. > Real Estate and Housing Economics

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Atif Mian & Amir Sufi & Francesco Trebbi, 2010. "The Political Economy of the US Mortgage Default Crisis," American Economic Review, American Economic Association, vol. 100(5), pages 1967-1998, December.

    Mentioned in:

    1. The Political Economy of the US Mortgage Default Crisis (AER 2010) in ReplicationWiki ()
  2. Atif Mian & Amir Sufi, 2011. "House Prices, Home Equity-Based Borrowing, and the US Household Leverage Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 2132-2156, August.

    Mentioned in:

    1. House Prices, Home Equity-Based Borrowing, And the US Household Leverage Crisis (AER 2011) in ReplicationWiki ()

Working papers

  1. Amir Sufi, 2023. "Housing, Household Debt, and the Business Cycle: An Application to China and Korea," NBER Working Papers 31489, National Bureau of Economic Research, Inc.

    Cited by:

    1. Benoit Mojon & Han Qiu & Fang Wang & Michael Weber, 2025. "Housing wealth effects in China," BIS Working Papers 1319, Bank for International Settlements.
    2. Wang, Xinyu & Fang, Zhuangzhi & Wang, Zhenxin, 2025. "The dual role of sentiment on housing prices in China," International Review of Economics & Finance, Elsevier, vol. 97(C).
    3. Kaiji Chen & Qing Wang & Tong Xu & Tao Zha, 2025. "Aggregate and distributional impacts of LTV policy in China," Quantitative Economics, Econometric Society, vol. 16(4), pages 1361-1408, November.

  2. Atif R. Mian & Ludwig Straub & Amir Sufi, 2022. "A Goldilocks Theory of Fiscal Deficits," NBER Working Papers 29707, National Bureau of Economic Research, Inc.

    Cited by:

    1. Kaldorf, Matthias & Röttger, Joost, 2023. "Convenient but risky government bonds," Discussion Papers 15/2023, Deutsche Bundesbank.
    2. Tomohiro Hirano & Alexis Akira Toda, 2026. "Land, G versus R, and Infinite Debt Rollover," CIGS Working Paper Series 26-002E, The Canon Institute for Global Studies.
    3. Fernández-Gallardo, Álvaro & Payá, Iván, 2025. "Public debt burden and crisis severity," European Economic Review, Elsevier, vol. 176(C).
    4. Gomez-Gonzalez, Jose E. & Uribe, Jorge M. & Valencia, Oscar M., 2023. "Does economic complexity reduce the probability of a fiscal crisis?," World Development, Elsevier, vol. 168(C).
    5. Matias Moretti & Lorenzo Pandolfi & Sergio L. Schmukler & Tomas Williams & German Villegas-Bauer, 2025. "Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds," Mo.Fi.R. Working Papers 192, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    6. Kaldorf, Matthias & Röttger, Joost, 2025. "Convenient but risky government bonds," European Economic Review, Elsevier, vol. 180(C).
    7. Jean-Baptiste Michau, 2022. "The Trilemma for Low Interest Rate Macroeconomics," Working Papers 2022-19, Center for Research in Economics and Statistics.
    8. Uribe, Jorge M. & Chuliá, Helena, 2026. "Assessing the joint risks of fiscal crises and climate change," European Journal of Political Economy, Elsevier, vol. 91(C).
    9. Kliem, Martin & Kriwoluzky, Alexander & Müller, Gernot J. & Scheer, Alexander, 2024. "Financial repression in general equilibrium: The case of the United States, 1948-1974," Discussion Papers 20/2024, Deutsche Bundesbank.
    10. Gergő Motyovszki & Philipp Pfeiffer & Jan in ’t Veld, 2024. "The Implications of Public Investment for Debt Sustainability," European Economy - Discussion Papers 204, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    11. Mark Aguiar & Manuel Amador & Cristina Arellano, 2023. "Pareto Improving Fiscal and Monetary Policies: Samuelson in the New Keynesian Model," Staff Report 646, Federal Reserve Bank of Minneapolis.
    12. Begoña Domínguez & John Quiggin, 2022. "Australia's Fiscal Space: The Role of Public Investment," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 55(3), pages 383-388, September.
    13. Marijn A Bolhuis & Jakree Koosakul & Neil Shenai, 2025. "Fiscal R-Star: Fiscal-Monetary Tensions and Implications for Policy," RBA Annual Conference Papers acp2025-05, Reserve Bank of Australia, revised Nov 2025.
    14. Narayana R. Kocherlakota, 2023. "Public Debt Bubbles In Heterogeneous Agent Models With Tail Risk," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(2), pages 491-509, May.
    15. Daisuke Miyashita, 2023. "Public debt and income inequality in an endogenous growth model with elastic labor supply," International Journal of Economic Policy Studies, Springer, vol. 17(2), pages 447-472, August.
    16. George‐Marios Angeletos & Chen Lian & Christian K. Wolf, 2024. "Can Deficits Finance Themselves?," Econometrica, Econometric Society, vol. 92(5), pages 1351-1390, September.
    17. Naiyue CUI & Minchung HSU & Yunfang HU, 2025. "Fiscal Reform, Government Debt and Female Labor Supply in Japan," Discussion papers 25095, Research Institute of Economy, Trade and Industry (RIETI).
    18. Heimberger, Philipp, 2023. "Public debt and r-g risks in advanced economies: Eurozone versus stand-alone," Journal of International Money and Finance, Elsevier, vol. 136(C).
    19. Mitsuru Katagiri & Junko Koeda & Hiroaki Miyamoto & Makoto Nirei & Takashi Unayama, 2025. "Fiscal Projections and Debt Sustainability in Japan," Asian Economic Policy Review, Japan Center for Economic Research, vol. 20(2), pages 222-232, July.
    20. Jorge M. Uribe, 2023. ""Fiscal crises and climate change"," IREA Working Papers 202303, University of Barcelona, Research Institute of Applied Economics, revised Feb 2023.
    21. Michau, Jean-Baptiste & Ono, Yoshiyasu & Schlegl, Matthias, 2023. "Wealth preference and rational bubbles," European Economic Review, Elsevier, vol. 156(C).

  3. Fabian Eckert & Ka-leung Lam & Atif R. Mian & Karsten Müller & Rafael Schwalb & Amir Sufi, 2022. "The Early County Business Pattern Files: 1946-1974," NBER Working Papers 30578, National Bureau of Economic Research, Inc.

    Cited by:

    1. Cucu, Florin, 2025. "Roads, internal migration and the spatial sorting of U.S. high-skill workers," Journal of Urban Economics, Elsevier, vol. 146(C).
    2. Calamunci, Francesca & Lonsky, Jakub, 2022. "Highway to Hell? Interstate Highway System and Crime," IZA Discussion Papers 15800, IZA Network @ LISER.

  4. Gabriel Garber & Atif R. Mian & Jacopo Ponticelli & Amir Sufi, 2021. "Consumption Smoothing or Consumption Binging? The effects of government-led consumer credit expansion in Brazil," NBER Working Papers 29386, National Bureau of Economic Research, Inc.

    Cited by:

    1. Wu, Baohui & Wen, Fenghua & Zhang, Yun & Huang, Zhijian (James), 2024. "Climate risk and the systemic risk of banks: A global perspective," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 95(C).
    2. Christa N. Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert Van der Klaauw & Jialan Wang, 2024. "Consumer Credit Reporting Data," Staff Reports 1114, Federal Reserve Bank of New York.
    3. Jason Allen & Michael Boutros & Benedict Guttman-Kenney, 2024. "Credit Card Minimum Payment Restrictions," Staff Working Papers 24-26, Bank of Canada.
    4. Daniel Berkowitz, 2022. "Rational but Not Prescient: Borrowing during the Fracking Boom," Working Paper 7314, Department of Economics, University of Pittsburgh.

  5. Amir Sufi & Alan M. Taylor, 2021. "Financial crises: A survey," NBER Working Papers 29155, National Bureau of Economic Research, Inc.

    Cited by:

    1. Javier G. Gómez-Pineda & Andrés Murcia & Wilmar Alexander Cabrera-Rodríguez & Hernando Vargas-Herrera & Leonardo Villar-Gómez, 2023. "The monetary and macroprudential policy framework in Colombia in the last 30 years: the lessons learnt and the challenges for the future," Borradores de Economia 1238, Banco de la Republica de Colombia.
    2. Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2022. "Overreaction and Diagnostic Expectations in Macroeconomics," Journal of Economic Perspectives, American Economic Association, vol. 36(3), pages 223-244, Summer.
    3. Eiblmeier, Sebastian, 2023. "Differential Effects of Unconventional Monetary Policy," Hannover Economic Papers (HEP) dp-707, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    4. Ahmad W. Bitar & Nathan de Carvalho & Valentin Gatignol, 2023. "Covariance matrix estimation for robust portfolio allocation," Working Papers hal-04046454, HAL.
    5. Fernandez-Gallardo, Alvaro, 2023. "Preventing financial disasters: Macroprudential policy and financial crises," European Economic Review, Elsevier, vol. 151(C).
    6. Kim Ristolainen & Tomi Roukka & Henri Nyberg, 2021. "A Thousand Words Tell More Than Just Numbers: Financial Crises and Historical Headlines," Discussion Papers 149, Aboa Centre for Economics.
    7. Jin, Xiao & Lin, Shu-Ling, 2025. "An early prediction model on systemic risk under global risk: Using FinBERT and temporal fusion transformer to multimodal data fusion framework," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    8. Rachel Cho & Rodolphe Desbordes & Markus Eberhardt, 2022. "The causal effects of the darker side of financial development," Discussion Papers 2022-04, University of Nottingham, GEP.
    9. Kim, Jeong-Bon & Kim, Junwoo & Lee, Jay Junghun, 2025. "Earnings versus cash flows in equity valuation: Evidence from the COVID-19 crisis," Advances in accounting, Elsevier, vol. 69(C).
    10. Ivanova, Inga & Rzadkowski, Grzegorz, 2025. "Mechanisms of semantic communication of information and dynamics of complex systems. Application to financial markets," Chaos, Solitons & Fractals, Elsevier, vol. 200(P3).
    11. Frederic Boissay & Fabrice Collard & Jordi Gali & Cristina Manea, 2022. "Monetary policy and endogenous financial crises," BIS Working Papers 991, Bank for International Settlements.
    12. Eiblmeier, Sebastian, 2024. "Differential Effects of Unconventional Monetary Policy," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302432, Verein für Socialpolitik / German Economic Association.
    13. Claudia M. Buch & Linda S. Goldberg, 2024. "International Banking and Nonbank Financial Intermediation: Global Liquidity, Regulation, and Implications," Staff Reports 1091, Federal Reserve Bank of New York.
    14. Akhmadieva, Veronika, 2022. "Fiscal adjustment in a panel of countries 1870–2016," Journal of Comparative Economics, Elsevier, vol. 50(2), pages 555-568.
    15. Ziwei Mei & Liugang Sheng & Zhentao Shi, 2023. "Nickell Bias in Panel Local Projection: Financial Crises Are Worse Than You Think," Papers 2302.13455, arXiv.org, revised Jan 2026.

  6. Thomas Kroen & Ernest Liu & Atif R. Mian & Amir Sufi, 2021. "Falling Rates and Rising Superstars," NBER Working Papers 29368, National Bureau of Economic Research, Inc.

    Cited by:

    1. Federico Esposito & Fadi Hassan, 2023. "Import competition, trade credit and financial frictions in general equilibrium," CEP Discussion Papers dp1901, Centre for Economic Performance, LSE.
    2. Anastasia Burya & Rui Mano & Mr. Yannick Timmer & Miss Anke Weber, 2022. "Monetary Policy Under Labor Market Power," IMF Working Papers 2022/128, International Monetary Fund.
    3. Ernest Liu & Atif Mian & Amir Sufi, 2022. "Low Interest Rates, Market Power, and Productivity Growth," Econometrica, Econometric Society, vol. 90(1), pages 193-221, January.
    4. Satyajit Chatterjee & Burcu Eyigungor, 2022. "The Firm Size-Leverage Relationship and Its Implications for Entry and Business Concentration," Working Papers 22-07, Federal Reserve Bank of Philadelphia.
    5. Haykir, Ozkan & Yagli, Ibrahim & Aktekin Gok, Emine Dilara & Budak, Hilal, 2022. "Oil price explosivity and stock return: Do sector and firm size matter?," Resources Policy, Elsevier, vol. 78(C).
    6. Francisco Amaral & Martin Dohmen & Sebastian Kohl & Moritz Schularick, 2024. "Interest Rates and the Spatial Polarization of Housing Markets," Post-Print hal-05448521, HAL.
    7. Pawe{l} Gola & Haozhou Tang, 2026. "Sorting along Business Cycles," Papers 2603.09323, arXiv.org.

  7. Atif R. Mian & Ludwig Straub & Amir Sufi, 2020. "Indebted Demand," NBER Working Papers 26940, National Bureau of Economic Research, Inc.

    Cited by:

    1. Elisa Palagi & Mauro Napoletano & Andrea Roventini & Jean-Luc Gaffard, 2021. "An agent-based model of trickle-up growth and income inequality," LEM Papers Series 2021/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    2. Océane Blomme & Jérôme Héricourt, 2023. "Inequality, Current Account Imbalances and Middle Incomes," Working Papers 2023-11, CEPII research center.
    3. Alina K. Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike I. Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," CRC TR 224 Discussion Paper Series crctr224_2025_634, University of Bonn and University of Mannheim, Germany.

  8. Atif R. Mian & Ludwig Straub & Amir Sufi, 2020. "The Saving Glut of the Rich," NBER Working Papers 26941, National Bureau of Economic Research, Inc.

    Cited by:

    1. Fox, Edward & Liscow, Zachary, 2025. "The role of unrealized gains and borrowing in the taxation of the rich," Journal of Public Economics, Elsevier, vol. 252(C).
    2. Rude, Johanna, 2024. "Income Inequality and Aggregate Demand," MPRA Paper 120875, University Library of Munich, Germany.
    3. Brand, Claus & Goy, Gavin & Lemke, Wolfgang, 2021. "Natural rate chimera and bond pricing reality," Working Paper Series 2612, European Central Bank.
    4. Sascha Buetzer, 2022. "Advancing the Monetary Policy Toolkit through Outright Transfers," IMF Working Papers 2022/087, International Monetary Fund.
    5. Luisa Corrado & Aicha Kharazi, 2022. "Collateral, Household Borrowing, and Income Distribution," BEMPS - Bozen Economics & Management Paper Series BEMPS90, Faculty of Economics and Management at the Free University of Bozen.
    6. Marc C. Adam, 2020. "The Corona Crisis - is this the time for Helicopter Money?," Basic Papers 1, Forum New Economy, revised Apr 2020.
    7. Luca Eduardo Fierro & Federico Giri & Alberto Russo, 2023. "Inequality-Constrained Monetary Policy in a Financialized Economy," Working Papers 2023/02, Economics Department, Universitat Jaume I, Castellón (Spain).
    8. Dávila-Fernández, Marwil J. & Punzo, Lionello F., 2021. "The Kuznets curve of the rich," Economic Systems, Elsevier, vol. 45(4).
    9. Bartscher, Alina K. & Kuhn, Moritz & Schularick, Moritz & Steins, Ulrike I., 2025. "The distribution of household debt in the United States, 1950-2022," Open Access Publications from Kiel Institute for the World Economy 324154, Kiel Institute for the World Economy.
    10. Paul Beaudry & Katsiaryna Kartashova & Césaire A Meh, 2022. "Gazing at r*: A Hysteresis Perspective," RBA Annual Conference Papers acp2022-08, Reserve Bank of Australia, revised Dec 2022.
    11. Paul Beaudry & Katya Kartashova & Césaire Meh, 2023. "Gazing at r-star: A Hysteresis Perspective," Staff Working Papers 23-5, Bank of Canada.
    12. Matthieu Gomez, 2023. "Decomposing the Growth of Top Wealth Shares," Econometrica, Econometric Society, vol. 91(3), pages 979-1024, May.
    13. Bill Martin, 2020. "Resurrecting the UK Corporate Sector Accounts," Working Papers wp519, Centre for Business Research, University of Cambridge.
    14. Beck, Roland & Schmitz, Martin & Coppola, Antonio & Lewis, Angus & Maggiori, Matteo & Schreger, Jesse, 2024. "The geography of capital allocation in the euro area," Working Paper Series 3007, European Central Bank.
    15. Döttling, Robin, 2023. "Bank Capital Regulation in a Zero Interest Environment," OSF Preprints 9dxzf, Center for Open Science.
    16. Ichiro Muto & Fumitaka Nakamura & Makoto Nirei, 2024. "Digitalization, Entrepreneurship, and Wealth Inequality," IMES Discussion Paper Series 24-E-01, Institute for Monetary and Economic Studies, Bank of Japan.
    17. Masako Ikefuji & Yoshiyasu Ono, 2023. "Environmental Policies and Stagnation in a Two-Country Economy," ISER Discussion Paper 1222, Institute of Social and Economic Research, The University of Osaka.
    18. Fierro, Luca Eduardo & Martinoli, Mario, 2025. "An empirical inquiry into the distributional consequences of energy price shocks," Journal of International Money and Finance, Elsevier, vol. 159(C).
    19. Stefano Di Bucchianico, 2020. "A note on financialization from a Classical-Keynesian standpoint," Department of Economics University of Siena 824, Department of Economics, University of Siena.
    20. Owen Zidar, 2020. "Comment on "Sources of US Wealth Inequality: Past, Present, and Future"," NBER Chapters, in: NBER Macroeconomics Annual 2020, volume 35, pages 456-467, National Bureau of Economic Research, Inc.
    21. Tippet, Benjamin & Onaran, Özlem & Wildauer, Rafael, 2021. "The determinants of wealth inequality in the UK, USA and France," Greenwich Papers in Political Economy 31260, University of Greenwich, Greenwich Political Economy Research Centre.
    22. Peter Levell & David Sturrock, 2026. "How do house prices affect social mobility?," IFS Working Papers W26/02, Institute for Fiscal Studies.
    23. Matthew Smith & Owen Zidar & Eric Zwick, 2021. "Top Wealth in America: New Estimates and Implications for Taxing the Rich," Working Papers 2021-7, Princeton University. Economics Department..
    24. Nagler, Matthew G., 2023. "Focusing as commitment," Journal of Economic Behavior & Organization, Elsevier, vol. 216(C), pages 520-534.
    25. Brand, Claus & Goy, Gavin & Lemke, Wolfgang, 2025. "Estimating the natural rate of interest in a macro-finance yield curve model," Working Paper Series 3160, European Central Bank.
    26. Støstad, Morten Nyborg & Cowell, Frank, 2024. "Inequality as an externality: Consequences for tax design," Journal of Public Economics, Elsevier, vol. 235(C).
    27. Yixiao Zhou & Rod Tyers & Damian Lenzo, 2022. "Debt, Inflation and the Shape of the Global Pandemic Recovery," Economics Discussion / Working Papers 22-03, The University of Western Australia, Department of Economics.
    28. Katya Kartashova & Xiaoqing Zhou, 2021. "Wealth Inequality and Return Heterogeneity During the COVID-19 Pandemic," Working Papers 2114, Federal Reserve Bank of Dallas.
    29. International Monetary Fund, 2022. "Denmark: Selected Issues," IMF Staff Country Reports 2022/170, International Monetary Fund.
    30. Camarero, Mariam & Dufrénot, Gilles & Tamarit, Cecilio & Vaccaro-Grange, Etienne, 2025. "Inequality’s ripple effect: Analyzing its influence on the natural interest rate and monetary policy in Germany, Japan, and the US," Journal of Economic Behavior & Organization, Elsevier, vol. 239(C).
    31. Goodhart, C. A. E. & Peiris, M. U. & Tsomocos, Dimitrios P & Wang, Xuan, 2021. "Corporate legacy debt, inflation, and the efficacy of monetary policy," LSE Research Online Documents on Economics 112955, London School of Economics and Political Science, LSE Library.
    32. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "What explains the decline in r ∗ ? Rising income inequality versus demographic shifts," Working Papers 2021-12, Princeton University. Economics Department..
    33. Edmond Berisha & David Gabauer & Rangan Gupta & Chi Keung Marco Lau, 2021. "Time-varying influence of household debt on inequality in United Kingdom," Empirical Economics, Springer, vol. 61(4), pages 1917-1933, October.
    34. Arrigoni, Simone, 2024. "Who gets the flow? Financial globalisation and wealth inequality," Journal of Macroeconomics, Elsevier, vol. 81(C).
    35. Deng, Xin & Yu, Mingzhe, 2021. "Does the marginal child increase household debt? – Evidence from the new fertility policy in China," International Review of Financial Analysis, Elsevier, vol. 77(C).
    36. Olivér Kovács, 2022. "Zombification and Industry 4.0—Directional Financialisation against Doomed Industrial Revolution," Social Sciences, MDPI, vol. 11(5), pages 1-24, May.

  9. Peter Hooper & Frederic S. Mishkin & Amir Sufi, 2019. "Prospects for Inflation in a High Pressure Economy: Is the Phillips Curve Dead or is It Just Hibernating?," NBER Working Papers 25792, National Bureau of Economic Research, Inc.

    Cited by:

    1. Bańbura, Marta & Bobeica, Elena, 2020. "Does the Phillips curve help to forecast euro area inflation?," Working Paper Series 2471, European Central Bank.
    2. Barnichon, Regis & Mesters, Geert, 2021. "The Phillips multiplier," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 689-705.
    3. Cepni, Oguzhan & Clements, Michael P., 2024. "How local is the local inflation factor? Evidence from emerging European countries," International Journal of Forecasting, Elsevier, vol. 40(1), pages 160-183.
    4. Thibault Lemaire, 2020. "Phillips in A Revolution: Unemployment and Prices in Early 21st Century Egypt," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03948605, HAL.
    5. Elisa Rubbo, 2023. "Networks, Phillips Curves, and Monetary Policy," Econometrica, Econometric Society, vol. 91(4), pages 1417-1455, July.
    6. Carl E. Walsh, 2022. "Inflation Surges and Monetary Policy," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 40, pages 39-66, November.
    7. Ricardo Summa & Julia Braga, 2020. "The (conflict-augmented) Phillips Curve is alive and well," Working Papers 0055, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
    8. Narayana R Kocherlakota, 2022. "The Unavoidability of Low Inflation–Low Output Traps," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(6), pages 3410-3435.
    9. Oleksandr Faryna & Tho Pham & Oleksandr Talavera & Andriy Tsapin, 2020. "Wage Setting and Unemployment: Evidence from Online Job Vacancy Data," Economics Discussion Papers em-dp2020-02, Department of Economics, University of Reading.
    10. Kristin Forbes, 2019. "Inflation Dynamics: Dead, Dormant, or Determined Abroad?," NBER Working Papers 26496, National Bureau of Economic Research, Inc.
    11. Jean-Marie Le Page, 2024. "Pure Theories of Policy Mix: Nordhaus's Destructive Game and the Case of High Inflation," Post-Print hal-04634043, HAL.
    12. Terry J. Fitzgerald & Callum J. Jones & Mariano Kulish & Juan Pablo Nicolini, 2020. "Is There a Stable Relationship between Unemployment and Future Inflation?," Staff Report 614, Federal Reserve Bank of Minneapolis.
    13. Fontanari, Claudia & Palumbo, Antonella & Salvatori, Chiara, 2022. "The updated Okun method for estimation of potential output with alternative measures of labor underutilization," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 158-178.
    14. Mary C. Daly, 2019. "The Bumpy Road to 2 Percent: Managing Inflation in the Current Economy," Speech 193, Federal Reserve Bank of San Francisco.
    15. Mustafa Caglayan & Oleksandr Talavera & Lin Xiong, 2020. "Female Small Business Owners in China: Discouraged, not Discriminated," Discussion Papers 20-04, Department of Economics, University of Birmingham.
    16. Thiago Revil T. Ferreira & Samer Shousha, 2021. "Supply of Sovereign Safe Assets and Global Interest Rates," International Finance Discussion Papers 1315, Board of Governors of the Federal Reserve System (U.S.).
    17. Boris Hofmann & Marco J Lombardi & Benoit Mojon & Athanasios Orphanides, 2025. "Fiscal and Monetary Policy Interactions in a Low Interest Rate World," International Journal of Central Banking, International Journal of Central Banking, vol. 21(3), pages 69-110, July.
    18. Thomas Mayer & Gunther Schnabl, 2019. "Reasons for the Demise of Interest: Savings Glut and Secular Stagnation or Central Bank Policy?," CESifo Working Paper Series 7954, CESifo.
    19. Tamborini Roberto, 2022. "Beware of Pitfalls in the European Central Bank’s Review of Monetary Policy Strategy," The Economists' Voice, De Gruyter, vol. 19(1), pages 15-23, June.
    20. Saeed Zaman, 2019. "Cyclical versus Acyclical Inflation: A Deeper Dive," Economic Commentary, Federal Reserve Bank of Cleveland, issue September.
    21. Clements, Michael P., 2024. "Do professional forecasters believe in the Phillips curve?," International Journal of Forecasting, Elsevier, vol. 40(3), pages 1238-1254.
    22. Rose Cunningham & Vikram Rai & Kristina Hess, 2019. "Exploring Wage Phillips Curves in Advanced Economies," Discussion Papers 2019-8, Bank of Canada.
    23. Luigi Bonatti & Andrea Fracasso & Roberto Tamborini, 2020. "COVID-19 and the Future of Quantitative Easing in the Euro Area: Three Scenarios with a Trilemma," DEM Working Papers 2020/11, Department of Economics and Management.
    24. Del Negro, Marco & Lenza, Michele & Primiceri, Giorgio E. & Tambalotti, Andrea, 2020. "What’s up with the Phillips Curve?," Working Paper Series 2435, European Central Bank.
    25. Lasha Arevadze & Tamta Sopromadze & Giorgi Tsutskiridze & Shalva Mkhatrishvili, 2020. "Identifying the Phillips Curve in Georgia," NBG Working Papers 01/2020, National Bank of Georgia.
    26. Roberto Tamborini, 2024. "Inflation surprises in a New Keynesian economy with a “true” consumption function," Economic Inquiry, Western Economic Association International, vol. 62(3), pages 1192-1215, July.
    27. El-Shagi, Makram & Tochkov, Kiril, 2024. "Regional heterogeneity and the provincial Phillips curve in China," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1036-1044.
    28. Thiago Revil T. Ferreira & Samer Shousha, 2020. "Scarcity of Safe Assets and Global Neutral Interest Rates," International Finance Discussion Papers 1293, Board of Governors of the Federal Reserve System (U.S.).
    29. Ricardo Summa & Julia Braga, 2020. "Two routes back to the old Phillips curve: the amended mainstream model and the conflict augmented alternative," Bulletin of Political Economy, Bulletin of Political Economy, vol. 14(1), pages 81-115, June.
    30. Peter D. Williams & Mr. Yasser Abdih & Emanuel Kopp, 2020. "Reading the Stars," IMF Working Papers 2020/136, International Monetary Fund.
    31. Giuliana Passamani & Alessandro Sardone & Roberto Tamborini, 2020. "Phillips Curve and output expectations: New perspectives from the Euro Zone," DEM Working Papers 2020/6, Department of Economics and Management.
    32. Bill Dupor & Marie Hogan & Jingchao Li, 2024. "A Decomposition of the Phillips Curve’s Flattening," Working Papers 2025-002, Federal Reserve Bank of St. Louis.
    33. Solikin M. Juhro, 2023. "Future Central Banking In Emerging Market Economies," Working Papers WP/01/2023, Bank Indonesia.
    34. Narayan, Seema & Cirikisuva, Salote & Naivutu, Revoni, 2023. "A hybrid NKPC inflation model for the small Island state of Fiji," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 873-886.
    35. A. Moutaabbid, 2024. "Les determinants de la dynamique des salaires en France : approches macro et sectorielles par la courbe de Phillips," Documents de Travail de l'Insee - INSEE Working Papers 2024-20, Institut National de la Statistique et des Etudes Economiques.
    36. Luigi Bonatti Roberto Tamborini & Roberto Tamborini, 2021. "Is High Inflation the New Challenge for Central Banks?," DEM Working Papers 2021/14, Department of Economics and Management.
    37. Pattanaik, Sitikantha & Muduli, Silu & Ray, Soumyajit, 2020. "Inflation expectations of households: do they influence wage-price dynamics in India?," MPRA Paper 103685, University Library of Munich, Germany.
    38. Fontanari, Claudia & Levrero, Enrico Sergio & Romaniello, Davide, 2024. "A composite index for workers’ bargaining power and the inflation rate in the United States, 1960–2018," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 682-698.
    39. Ferri, Piero & Cristini, Annalisa & Tramontana, Fabio, 2023. "Meta-models of the Phillips curve and income distribution," Journal of Economic Behavior & Organization, Elsevier, vol. 213(C), pages 215-232.
    40. John Komlos, 2019. "The Real U.S. Unemployment Rate Is Twice the Official Rate, and the Phillips Curve," CESifo Working Paper Series 7859, CESifo.
    41. Lael Brainard, 2019. "Navigating Cautiously : a speech at the Julis-Rabinowitz Center for Public Policy and Finance and the Bendheim Center for Finance, Woodrow Wilson School of Public and International Affairs, Princeton University, Princeton, New Jersey, March 7, 2019," Speech 1043, Board of Governors of the Federal Reserve System (U.S.).
    42. Anna Lipinska & Enrique Martínez García & Felipe Schwartzman, 2025. "Pandemic and War Inflation: Lessons from the International Experience," Finance and Economics Discussion Series 2025-071, Board of Governors of the Federal Reserve System (U.S.).
    43. Richard K. Crump & Christopher J. Nekarda & Nicolas Petrosky-Nadeau, 2020. "Unemployment Rate Benchmarks," Finance and Economics Discussion Series 2020-072, Board of Governors of the Federal Reserve System (U.S.).
    44. Marc P. Giannoni, 2019. "Comment on "Optimal Inflation and the Identification of the Phillips Curve"," NBER Chapters, in: NBER Macroeconomics Annual 2019, volume 34, pages 256-266, National Bureau of Economic Research, Inc.
    45. Michael Morris & Robert W. Rich & Joseph Tracy, 2020. "How Aggregation Matters for Measured Wage Growth," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(19), pages 1-9, July.
    46. Bobeica, Elena & Koester, Gerrit & Lis, Eliza & Nickel, Christiane & Porqueddu, Mario, 2019. "Understanding low wage growth in the euro area and European countries," Occasional Paper Series 232, European Central Bank.
    47. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    48. Solikin M. Juhro & Bernard Njindan Iyke, 2019. "Forecasting Indonesian Inflation Within an Inflation-Targeting Framework: Do Large-Scale Models Pay Off?," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 22(4), pages 423-436, December.
    49. Mayer, Thomas & Schnabl, Gunther, 2021. "Covid-19 and the euthanasia of interest rates: A critical assessment of central bank policy in our times," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1241-1258.
    50. James Bishop & Emma Greenland, 2021. "Is the Phillips Curve Still a Curve? Evidence from the Regions," RBA Research Discussion Papers rdp2021-09, Reserve Bank of Australia.
    51. James H. Stock & Mark W. Watson, 2019. "Slack and Cyclically Sensitive Inflation," NBER Working Papers 25987, National Bureau of Economic Research, Inc.
    52. James H. Stock & Mark W. Watson, 2020. "Slack and Cyclically Sensitive Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 393-428, December.
    53. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2024. "When Should Central Banks Fear Inflation Expectations?," CESifo Working Paper Series 10966, CESifo.
    54. Patrik Kupkovic, 2020. "R-star in Transition Economies: Evidence from Slovakia," Working and Discussion Papers WP 3/2020, Research Department, National Bank of Slovakia.
    55. Michael McLeay & Silvana Tenreyro, 2019. "Optimal Inflation and the Identification of the Phillips Curve," NBER Working Papers 25892, National Bureau of Economic Research, Inc.
    56. DiGabriele, Jim & Ojo, Marianne, 2019. "The wage growth puzzle and the Philips Curve explained: recent developments," MPRA Paper 95110, University Library of Munich, Germany.
    57. Roberto Tamborini, 2023. "Inflation surprises in a New Keynesian economy with a true consumption function. The Eurozone as an inflation target zone," DEM Working Papers 2023/1, Department of Economics and Management.
    58. Gobbi, Lucio & Mazzocchi, Ronny & Tamborini, Roberto, 2025. "Inflation shocks and the New Keynesian model: When should central banks fear inflation expectations?," The North American Journal of Economics and Finance, Elsevier, vol. 80(C).
    59. Faryna, Oleksandr & Pham, Tho & Talavera, Oleksandr & Tsapin, Andriy, 2022. "Wage and unemployment: Evidence from online job vacancy data," Journal of Comparative Economics, Elsevier, vol. 50(1), pages 52-70.
    60. Feldkircher, Martin & Siklos, Pierre L., 2019. "Global inflation dynamics and inflation expectations," International Review of Economics & Finance, Elsevier, vol. 64(C), pages 217-241.
    61. Philipp F. M. Baumann & Enzo Rossi & Alexander Volkmann, 2020. "What Drives Inflation and How: Evidence from Additive Mixed Models Selected by cAIC," Papers 2006.06274, arXiv.org, revised Aug 2022.
    62. Lawrence Mishel & Josh Bivens, 2021. "The Productivity-Median Compensation Gap in the United States: The Contribution of Increased Wage Inequality and the Role of Policy Choices," International Productivity Monitor, Centre for the Study of Living Standards, vol. 41, pages 61-97, Fall.

  10. Ernest Liu & Atif Mian & Amir Sufi, 2019. "Low Interest Rates, Market Power, and Productivity Growth," NBER Working Papers 25505, National Bureau of Economic Research, Inc.

    Cited by:

    1. Alejandro Van der Ghote & Luc Laeven & Victoria Vanasco & Alberto Martin & Vladimir Asriyan, 2021. "Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium," Working Papers 1268, Barcelona School of Economics.
    2. Fukuda, Shin-ichi, 2025. "Short-run and long-run consequences of unconventional monetary policy in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 77(C).
    3. Alessandro Bellocchi & Edgar J. Sanchez Carrera & Giuseppe Travaglini, 2021. "What drives TFP long-run dynamics in five large European economies?," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(2), pages 569-595, July.
    4. Maarten de Ridder, 2019. "Market Power and Innovation in the Intangible Economy," Discussion Papers 1907, Centre for Macroeconomics (CFM).
    5. Atif Mian & Ludwig Straub & Amir Sufi, 2020. "Indebted Demand," CESifo Working Paper Series 8210, CESifo.
    6. Antonin Bergeaud & Gilbert Cette & Rémy Lecat, 2019. "The Circular Relationship Between Productivity Growth and Real Interest Rates," Working papers 734, Banque de France.
    7. Horn, Carl-Wolfram & Fischer, Johannes J., 2021. "Does Monetary Policy Affect Mergers and Acquisitions?," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242445, Verein für Socialpolitik / German Economic Association.
    8. Peter J. Klenow & Huiyu Li, 2020. "Innovative Growth Accounting," NBER Working Papers 27015, National Bureau of Economic Research, Inc.
    9. Zhao, Jiawei & Han, Yibo, 2025. "Interest rate fluctuations and corporate financial leverage," Finance Research Letters, Elsevier, vol. 80(C).
    10. Impullitti, Giammario & Kazmi, Syed, 2022. "Globalization and market power," LSE Research Online Documents on Economics 117985, London School of Economics and Political Science, LSE Library.
    11. Santiago Caicedo & Jeremy Pearce, 2024. "Need for Speed: Quality of Innovations and the Allocation of Inventors," Staff Reports 1127, Federal Reserve Bank of New York.
    12. Benjamin Grosse-Rueschkamp & Jörg Rocholl, 2020. "Ursachen und Konsequenzen von Niedrigzinsen [Causes and Consequences of Low Interest Rates]," Schmalenbach Journal of Business Research, Springer, vol. 72(4), pages 401-421, December.
    13. Caggese, Andrea & Pérez-Orive, Ander, 2022. "How stimulative are low real interest rates for intangible capital?," European Economic Review, Elsevier, vol. 142(C).
    14. Rodríguez del Valle, Adrián & Fernández-Vázquez, Esteban, 2024. "Analyzing market power of the agricultural industry in Asia," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 652-669.
    15. Strauss, Ilan & Yang, Jangho, 2020. "Corporate Secular Stagnation: Empirical Evidence on the Advanced Economy Investment Slowdown," INET Oxford Working Papers 2019-16, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    16. Manuchehr Irandoust, 2020. "The effectiveness of monetary policy and output fluctuations: An asymmetric analysis," Australian Economic Papers, Wiley Blackwell, vol. 59(2), pages 161-181, June.
    17. Miguel Leon-Ledesma & Katsuyuki Shibayama, 2023. "(Endogenous) Growth Slowdowns," Studies in Economics 2303, School of Economics, University of Kent.
    18. Norbert Ernst & Nico Pintar & Richard Sellner, 2023. "Resource Misallocation and TFP Gap Development in Austria (Richard Sellner, Nico Pintar, Norbert Ernst)," Working Papers 246, Oesterreichische Nationalbank (Austrian Central Bank).
    19. Viral V. Acharya & Matteo Crosignani & Tim Eisert & Christian Eufinger, 2024. "Zombie Credit and (Dis‐)Inflation: Evidence from Europe," Journal of Finance, American Finance Association, vol. 79(3), pages 1883-1929, June.
    20. Satyajit Chatterjee & Burcu Eyigungor, 2022. "The Firm Size-Leverage Relationship and Its Implications for Entry and Business Concentration," Working Papers 22-07, Federal Reserve Bank of Philadelphia.
    21. Xin, Fu & Sheng, Ran & Zhang, Jie & Bai, Kairui, 2024. "Factor market distortion and corporate innovation: Theory and evidence from China," Journal of Asian Economics, Elsevier, vol. 94(C).
    22. Berg, Tobias & Haselmann, Rainer & Kick, Thomas & Schreiber, Sebastian, 2023. "Unintended consequences of QE: Real estate prices and financial stability," IMFS Working Paper Series 196, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    23. Morlacco, Monica & Zeke, David, 2021. "Monetary policy, customer capital, and market power," Journal of Monetary Economics, Elsevier, vol. 121(C), pages 116-134.
    24. Gnewuch, Matthias, 2022. "Spillover effects of sovereign debt-based quantitative easing in the euro area," European Economic Review, Elsevier, vol. 145(C).
    25. Roberto Piazza & Yu Zheng, 2023. "Innovate to lead or innovate to prevail: When do monopolistic rents induce growth?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(3), pages 867-919, October.
    26. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    27. Philippe Aghion & Céline Antonin & Simon Bunel, 2019. "Intelligence artificielle, croissance et emploi : le rôle des politiques," Sciences Po Economics Publications (main) hal-03384667, HAL.
    28. Xiaoyang Zhu, 2023. "Financial development and declining market dynamics: Another dark side of “too much finance”?," Empirical Economics, Springer, vol. 65(1), pages 275-309, July.
    29. Bechlioulis, Alexandros & Economidou, Claire & Karamanis, Dimitrios & Konstantios, Dimitrios, 2023. "How important are capital controls in shaping innovation activity?," Journal of International Money and Finance, Elsevier, vol. 131(C).
    30. Singla, Shikhar, 2023. "Regulatory costs and market power," LawFin Working Paper Series 47, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
    31. Hugo Hopenhayn & Julian Neira & Rish Singhania, 2022. "From Population Growth to Firm Demographics: Implications for Concentration, Entrepreneurship and the Labor Share," Econometrica, Econometric Society, vol. 90(4), pages 1879-1914, July.
    32. Vladimir Asriyan & Luc Laeven & Alberto Martin & Alejandro Van der Ghote & Victoria Vanasco, 2021. "Falling interest rates and credit reallocation: Lessons from general equilibrium," Economics Working Papers 1784, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2022.
    33. Corhay, Alexandre & Kung, Howard & Schmid, Lukas, 2025. "Q: Risk, rents, or growth?," Journal of Financial Economics, Elsevier, vol. 165(C).
    34. Criscuolo, Chiara & Andrews, Dan & Gal, Peter N., 2019. "The best versus the rest: divergence across firms during the global productivity slowdown," LSE Research Online Documents on Economics 103405, London School of Economics and Political Science, LSE Library.
    35. Philippe Aghion & Céline Antonin & Simon Bunel, 2019. "Artificial Intelligence, Growth and Employment: The Role of Policy," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 510-511-5, pages 149-164.
    36. Shanks, Olga, 2024. "Increasing returns to scale and markups," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 257-267.
    37. Philip Arestis, 2021. "UK and other advanced economies productivity and income inequality," International Review of Applied Economics, Taylor & Francis Journals, vol. 35(3-4), pages 355-370, July.
    38. Choi, Michael & Rocheteau, Guillaume, 2024. "Foundations of market power in monetary economies," Journal of Economic Theory, Elsevier, vol. 222(C).
    39. Zheng, Yu & Piazza, Roberto, 2020. "Innovate to Lead or Innovate to Prevail: When do Monopolistic Rents Induce Growth?," CEPR Discussion Papers 14558, Centre for Economic Policy Research.
    40. Takahashi, Yuta & Takayama, Naoki, 2025. "Global Technology Stagnation," SocArXiv ek5t6_v1, Center for Open Science.
    41. Shunsuke Haba & Yuichiro Ito & Shogo Nakano & Takahiro Yamanaka, 2024. "Assessing the Long-Term Impact of Monetary Policy," Bank of Japan Working Paper Series 24-E-19, Bank of Japan.
    42. Fornaro, Luca & , & Benigno, Gianluca, 2020. "The Global Financial Resource Curse," CEPR Discussion Papers 14441, Centre for Economic Policy Research.
    43. Sugata Marjit & Kausik Gupta, 2025. "Crypto Currency and the Political Economy of Monetary Policy in a Democracy," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 23(4), pages 1033-1042, December.
    44. Sebastian Doerr, 2020. "Housing booms, reallocation and productivity," BIS Working Papers 904, Bank for International Settlements.
    45. Carlos Esteban Posada, 2020. "Cambio técnico y política económica: la teoría y el caso colombiano (1950-2019)," Documentos de Trabajo de Valor Público 18506, Universidad EAFIT.
    46. Shiratsuka, Shigenori, 2025. "What did the Bank of Japan do under the yield curve control policy?," Journal of the Japanese and International Economies, Elsevier, vol. 76(C).
    47. Christian Abele & Agnès Bénassy-Quéré & Lionel Fontagné, 2020. "One Size Does Not Fit All: TFP in the Aftermath of Financial Crises in Three European Countries," Working Papers halshs-02883685, HAL.
    48. Minford, Patrick, 2023. "Where next for monetary policy? lessons from the financial crisis and the pandemic," Cardiff Economics Working Papers E2023/25, Cardiff University, Cardiff Business School, Economics Section.
    49. Peter Bauer & Igor Fedotenkov & Aurelien Genty & Issam Hallak & Peter Harasztosi & David Martinez Turegano & David Nguyen & Nadir Preziosi & Ana Rincon-Aznar & Miguel Sanchez Martinez, 2020. "Productivity in Europe: Trends and drivers in a service-based economy," JRC Research Reports JRC119785, Joint Research Centre.
    50. Shin-ichi Fukuda, 2025. "Short-run and Long-run Consequences of Unconventional Monetary Policy in Japan," CIRJE F-Series CIRJE-F-1240, CIRJE, Faculty of Economics, University of Tokyo.
    51. Smitkova, L., 2022. "Competitiveness, 'Superstar' Firms and Capital Flows," Cambridge Working Papers in Economics 2241, Faculty of Economics, University of Cambridge.
    52. Alfredo García-Hiernaux & María T. González-Pérez & David E. Guerrero, 2020. "Eurozone prices: a tale of convergence and divergence," Working Papers 2010, Banco de España.
    53. Giammario Impullitti & Pontus Rendahl, 2025. "Market power, growth and wealth inequality," CEP Discussion Papers dp2074, Centre for Economic Performance, LSE.
    54. Mitchell Harvey, 2025. "Unexpected politics: Do interest rates influence lobbying expenditure?," Public Choice, Springer, vol. 205(1), pages 151-182, October.
    55. Lidia Smitkova, 2023. "Profits, ‘Superstar’ Firms and Capital Flows," Economics Series Working Papers 1030, University of Oxford, Department of Economics.
    56. Lea Steininger & Alexander A. Popov, 2023. "Monetary Policy and Local Industry Structure," Department of Economics Working Papers wuwp333, Vienna University of Economics and Business, Department of Economics.
    57. Yoshibumi Makabe & Tomoyuki Yagi, 2024. "Firms' Interest Payment Burden and Productivity under a Low Interest Rate Environment," Bank of Japan Working Paper Series 24-E-20, Bank of Japan.
    58. Liu, Xuewen & Wang, Pengfei & Yang, Zhongchao, 2024. "Delayed crises and slow recoveries," Journal of Financial Economics, Elsevier, vol. 152(C).
    59. Giammario Impullitti & Syed Kazmi, 2022. "Globalization and market power," Discussion Papers 2022-03, University of Nottingham, GEP.

  11. Atif R. Mian & Amir Sufi, 2018. "Finance and Business Cycles: The Credit-Driven Household Demand Channel," NBER Working Papers 24322, National Bureau of Economic Research, Inc.

    Cited by:

    1. Caloia, Francesco G., 2024. "Borrower-based measures, house prices and household debt," Journal of International Money and Finance, Elsevier, vol. 143(C).
    2. Ray C. Fair, 2019. "Some Important Macro Points," Cowles Foundation Discussion Papers 2165R, Cowles Foundation for Research in Economics, Yale University, revised Jul 2019.
    3. Björn Richter & Moritz Schularick & Paul Wachtel, 2021. "When to Lean against the Wind," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 5-39, February.
    4. Lusardi, Annamaria & Almenberg, Johan & Säve-Söderbergh, Jenny & Vestman, Roine, 2020. "Attitudes Toward Debt and Debt Behavior," CEPR Discussion Papers 14801, Centre for Economic Policy Research.
    5. Chen, Guojin & Liu, Yanzhen & Zhang, Yu, 2020. "Can systemic risk measures predict economic shocks? Evidence from China," China Economic Review, Elsevier, vol. 64(C).
    6. Sala, Hector & Trivín, Pedro, 2022. "Family Finances and Debt Overhang: Evolving Consumption Patterns of Spanish Households," IZA Discussion Papers 15222, IZA Network @ LISER.
    7. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    8. Zheng Liu & Pengfei Wang & Tao Zha, 2019. "A Theory of Housing Demand Shocks," NBER Working Papers 25667, National Bureau of Economic Research, Inc.
    9. Illing, Gerhard & Ono, Yoshiyasu & Schlegl, Matthias, 2018. "Credit booms, debt overhang and secular stagnation," European Economic Review, Elsevier, vol. 108(C), pages 78-104.
    10. Lorenzo Bretscher & Alex Hsu & Andrea Tamoni, 2019. "Response of the Macroeconomy to Uncertainty Shocks:the Risk Premium Channel," 2019 Meeting Papers 1567, Society for Economic Dynamics.
    11. Cronin, David & McQuinn, Kieran, 2022. "The housing net worth channel and the public finances: Evidence from a European country panel," Papers WP730, Economic and Social Research Institute (ESRI).
    12. Li, Boyao, 2021. "When government expenditure meets bank regulation: The impact of government expenditure on credit supply," MPRA Paper 111311, University Library of Munich, Germany.
    13. Sala, Hector & Trivin, Pedro, 2024. "Household finances, debt overhang and consumption patterns," Economic Modelling, Elsevier, vol. 139(C).
    14. Pascal Paul, 2023. "Historical Patterns of Inequality and Productivity around Financial Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(7), pages 1641-1665, October.
    15. Pratiti Chatterjee & David Gunawan & Robert Kohn, 2025. "The Interaction between Credit Constraints and Uncertainty Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(8), pages 2099-2129, December.
    16. Yuan, Gecheng & Fang, Jie & Sun, Yongping, 2024. "The impact of Fintech on the nexus between household debt and financial crises: A global perspective," Economic Modelling, Elsevier, vol. 130(C).
    17. Luca Eduardo Fierro & Federico Giri & Alberto Russo, 2023. "Inequality-Constrained Monetary Policy in a Financialized Economy," Working Papers 2023/02, Economics Department, Universitat Jaume I, Castellón (Spain).
    18. Tinghui Li & Junhao Zhong & Mark Xu, 2019. "Does the Credit Cycle Have an Impact on Happiness?," IJERPH, MDPI, vol. 17(1), pages 1-19, December.
    19. Sofia Vale & Francisco Camões, 2023. "Households’ Exposure to the Financial Sector as a Driver of Inequality: An Analysis of Advanced and Emerging Economies," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(2), pages 362-402, June.
    20. Salas, Sergio & Odell, Kathleen, 2023. "Why are credit-driven crises deep and long-lasting?," The Quarterly Review of Economics and Finance, Elsevier, vol. 90(C), pages 233-246.
    21. Priya, Pragati & Sharma, Chandan, 2025. "The uncertainty-driven channel of monetary transmission on household consumption: the role of households’ balance sheet positions," International Review of Economics & Finance, Elsevier, vol. 103(C).
    22. Timothy J. Besley & Isabelle A. Roland & John Van Reenen, 2020. "The Aggregate Consequences of Default Risk: Evidence from Firm-level Data," NBER Working Papers 26686, National Bureau of Economic Research, Inc.
    23. Braggion, Fabio & Manconi, Alberto & Zhu, Haikun, 2023. "Household credit and regulatory arbitrage: Evidence from online marketplace lending," Other publications TiSEM 9fbc0f2e-26f5-414f-8384-c, Tilburg University, School of Economics and Management.
    24. Atif Mian & Amir Sufi & Emil Verner, 2020. "How Does Credit Supply Expansion Affect the Real Economy? The Productive Capacity and Household Demand Channels," Journal of Finance, American Finance Association, vol. 75(2), pages 949-994, April.
    25. Alexandra Varadi, 2021. "Identifying the transmission channels of credit supply shocks to household debt: price and non-price effects," Bank of England working papers 927, Bank of England.
    26. David Longworth & Frank Milne, 2021. "Parallels Between Financial Regulation Prior to the Global Financial Crisis and Lack of Public Health Preparation Prior to Covid-19," Working Paper 1455, Economics Department, Queen's University.
    27. Ngene, Geoffrey M. & Tah, Kenneth A., 2023. "How are policy uncertainty, real economy, and financial sector connected?," Economic Modelling, Elsevier, vol. 123(C).
    28. Alina K Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike I Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," Post-Print hal-05448445, HAL.
    29. Nakajima, Jouchi, 2020. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 186-197.
    30. Grimm, Maximilian & Schularick, Moritz & Verner, Emil, 2026. "Financial liberalizations, booms, and crashes," Kiel Working Papers 2320, Kiel Institute for the World Economy.
    31. Cronin, David & McQuinn, Kieran, 2021. "Consumption and housing net worth: Cross-country evidence," Economics Letters, Elsevier, vol. 209(C).
    32. Bordalo, Pedro & Gennaioli, Nicola & Kwon, Spencer Yongwook & Shleifer, Andrei, 2021. "Diagnostic bubbles," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1060-1077.
    33. Marie Ryan & Huanhuan Xiong & Fergal Carton & JB Mc Carthy, 2026. "The Squeezed Middle in Digital Financial Services: Ireland's Warning for European Consumer Protection Policy," Journal of Consumer Policy, Springer, vol. 49(1), pages 1-28, March.
    34. Laborda, Juan & Suárez, Cristina & Fernández, Alejandro & Wang, Haoran & Cerdá, Emilio & Ricci, Liana & Quiroga, Sonia, 2026. "Unveiling how financial markets could intensify climate change risks," Ecological Economics, Elsevier, vol. 239(C).
    35. Chengwang Liao & Ziwei Mei & Zhentao Shi, 2024. "Nickell Meets Stambaugh: A Tale of Two Biases in Panel Predictive Regressions," Papers 2410.09825, arXiv.org, revised May 2026.
    36. Rémi Bazillier & Jérôme Héricourt & Samuel Ligonnière, 2021. "Structure of income inequality and household leverage : Cross-country causal evidence," Post-Print halshs-03099741, HAL.
    37. Bartscher, Alina K. & Kuhn, Moritz & Schularick, Moritz & Steins, Ulrike I., 2025. "The distribution of household debt in the United States, 1950-2022," Open Access Publications from Kiel Institute for the World Economy 324154, Kiel Institute for the World Economy.
    38. Huazhu Zheng & Jiao Qian & Guihuan Liu & Yongjiao Wu & Claudio O. Delang & Hongming He, 2023. "Housing prices and household consumption: a threshold effect model analysis in central and western China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-16, December.
    39. Cronin, David & McQuinn, Kieran, 2021. "Labour market fluctuations and the housing net worth channel in the EU," Papers WP709, Economic and Social Research Institute (ESRI).
    40. Andreas Fagereng & Magnus A. H. Gulbrandsen & Martin B. Holm & Gisle J. Natvik, 2021. "How does monetary policy affect household indebtedness?," Working Paper 2021/5, Norges Bank.
    41. Freixas, Xavier & Perez-Reyna, David, 2021. "Optimal macroprudential policy and rational bubbles," Journal of Financial Intermediation, Elsevier, vol. 46(C).
    42. Shijun Chai & Hao Qi, 2025. "Mobile Payments and Households’ Over-indebtedness: Micro Evidence Based on Subjective and Objective Perspectives," SAGE Open, , vol. 15(4), pages 21582440251, October.
    43. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    44. Funke, Michael & Li, Xiang & Zhong, Doudou, 2023. "Household indebtedness, financial frictions and the transmission of monetary policy to consumption: Evidence from China," Emerging Markets Review, Elsevier, vol. 55(C).
    45. Alogoskoufis, George & Malliaris, A.G. & Stengos, Thanasis, 2023. "The scope and methodology of economic and financial asymmetries," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    46. Gregory W. Fuller, 2021. "The financialization of rented homes: continuity and change in housing financialization," Review of Evolutionary Political Economy, Springer, vol. 2(3), pages 551-570, December.
    47. David F. Hendry, 2020. "A Short History of Macro-econometric Modelling," Economics Papers 2020-W01, Economics Group, Nuffield College, University of Oxford.
    48. Bielskis, Karolis & Lastauskas, Povilas, 2024. "The role of housing market and credit on household consumption dynamics: Evidence from the OECD countries," Journal of Economic Behavior & Organization, Elsevier, vol. 228(C).
    49. Matey, Juabin, 2021. "Financial Literacy and Consumer Financial Well-being in Ghana: Any Nexus with Economic Stability?," MPRA Paper 110351, University Library of Munich, Germany, revised 10 Oct 2021.
    50. Hülsewig, Oliver & Rottmann, Horst, 2021. "Euro area house prices and unconventional monetary policy surprises," Economics Letters, Elsevier, vol. 205(C).
    51. Emanuel Kohlscheen, 2025. "Forecasting House Prices," Papers 2509.21460, arXiv.org, revised Feb 2026.
    52. Karlan, Dean & Garz, Seth & Gine, Xavier & Mazer, Rafe & Sanford, Caitlin & Zinman, Jonathan, 2020. "Consumer protection for financial inclusion in low and middle income countries: Bridging regulator and academic perspectives," CEPR Discussion Papers 15596, Centre for Economic Policy Research.
    53. David Staines, 2023. "Stochastic Equilibrium the Lucas Critique and Keynesian Economics," Papers 2312.16214, arXiv.org, revised Jun 2024.
    54. Koetter, Michael & Marek, Philipp & Mavropoulos, Antonios, 2021. "Real estate transaction taxes and credit supply," Discussion Papers 04/2021, Deutsche Bundesbank.
    55. Juan Laborda & Sonia Ruano & Ignacio Zamanillo, 2023. "Multi-Country and Multi-Horizon GDP Forecasting Using Temporal Fusion Transformers," Mathematics, MDPI, vol. 11(12), pages 1-26, June.
    56. Herwartz, Helmut & Ochsner, Christian & Rohloff, Hannes, 2026. "How do credit supply conditions transmit across the globe?," Journal of International Money and Finance, Elsevier, vol. 161(C).
    57. Frank J. Fabozzi & Robert J. Shiller & Radu S. Tunaru, 2020. "A 30-Year Perspective on Property Derivatives: What Can Be Done to Tame Property Price Risk?," Journal of Economic Perspectives, American Economic Association, vol. 34(4), pages 121-145, Fall.
    58. Ján Klacso, 2024. "How Micro Data Improve the Estimation of Household Credit Risk Within the Macro Stress Testing Framework," Computational Economics, Springer;Society for Computational Economics, vol. 64(2), pages 707-733, August.
    59. Francesco Ruggeri & Riccardo Pariboni & Giuliano Toshiro Yajima, 2025. "A Stock-Flow Consistent Model of Emulation, Debt, and Personal Income Inequality," Economics Working Paper Archive wp_1099, Levy Economics Institute.
    60. Vieira, Flávio Vilela & Silva, Cleomar Gomes da, 2023. "Looking for asymmetries between credit and output in the BRICS countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 39-52.
    61. Chen, Xin & Qin, Yaohua & Xiao, He & Zhang, Yifei, 2019. "Microfinancing and Home-purchase Restrictions: Evidence from the Online “Peer-to-Peer” Lending in China," MPRA Paper 95375, University Library of Munich, Germany.
    62. Arango, Luis E. & Cardona-Sosa, Lina, 2023. "Consumer credit in an emerging economy: Demand, supply, and liquidity restrictions," Emerging Markets Review, Elsevier, vol. 54(C).
    63. Jiaming Soh, 2018. "Disentangling the supply and demand factors of household credit in Malaysia: evidence from the credit register," IFC Working Papers 17, Bank for International Settlements.
    64. Sercin Sahin, 2021. "Consumer confidence, consumption, and macroeconomic fluctuations: A systemic stock‐flow consistent model," Metroeconomica, Wiley Blackwell, vol. 72(4), pages 868-904, November.
    65. Bin Wei & Feng Zhao, 2022. "Racial Disparities in Mortgage Lending: New Evidence Based on Processing Time," FRB Atlanta Working Paper 2022-1, Federal Reserve Bank of Atlanta.
    66. David Cronin & Kieran McQuinn, 2023. "Household Consumption and the Housing Net Worth Channel in Ireland," The Economic and Social Review, Economic and Social Studies, vol. 54(2), pages 125-147.
    67. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2022. "Discovering the true Schumpeter: New insights into the finance and growth nexus," W.E.P. - Würzburg Economic Papers 102, University of Würzburg, Department of Economics.
    68. Bronson Argyle & Taylor Nadauld & Christopher Palmer & Ryan Pratt, 2021. "The Capitalization of Consumer Financing into Durable Goods Prices," Journal of Finance, American Finance Association, vol. 76(1), pages 169-210, February.
    69. Koetter, Michael & Winter, Birte & Wöbbeking, Carl Fabian, 2025. "The price of beauty: Biodiversity effects on residential housing markets," IWH Discussion Papers 21/2025, Halle Institute for Economic Research (IWH).
    70. Xuezhao Chen & Chenyi Kang & Haochang Yang & Zhenya Zhang & Shijia Kang, 2025. "The Impact of Monetary Policy on Household Leverage: Does Financial Literacy Matter?," SAGE Open, , vol. 15(2), pages 21582440251, June.
    71. Morris A. Davis & William D. Larson & Stephen D. Oliner & Benjamin Smith, 2019. "Mortgage Risk Since 1990," FHFA Staff Working Papers 19-02, Federal Housing Finance Agency.
    72. Sturn, Simon & Epstein, Gerald, 2021. "How much should we trust five-year averaging to purge business cycle effects? A reassessment of the finance-growth and capital accumulation-unemployment nexus," Economic Modelling, Elsevier, vol. 96(C), pages 242-256.
    73. Jérôme Creel & Paul Hubert & Fabien Labondance, 2020. "Credit, banking fragility and economic performance," Working Papers hal-03403072, HAL.
    74. Fernando Leibovici & David Wiczer, 2023. "Firm Exit and Liquidity: Evidence from the Great Recession," Opportunity and Inclusive Growth Institute Working Papers 074, Federal Reserve Bank of Minneapolis.
    75. Wang, Meng & Goodell, John W. & Huang, Wei & Jiang, Ying, 2023. "Trade credit provision and stock price crash risk," International Review of Financial Analysis, Elsevier, vol. 90(C).
    76. Bro, Jeppe & Eriksen, Jonas N., 2025. "Subjective expectations and house prices," Journal of Banking & Finance, Elsevier, vol. 172(C).
    77. David Finck & Paul Rudel, 2023. "Do credit supply shocks have asymmetric effects?," Empirical Economics, Springer, vol. 64(4), pages 1559-1597, April.
    78. Pratiti Chatterjee & David Gunawan & Robert Kohn, 2020. "The Interaction Between Credit Constraints and Uncertainty Shocks," Papers 2004.14719, arXiv.org.
    79. Moramarco, Graziano, 2024. "Financial-cycle ratios and medium-term predictions of GDP: Evidence from the United States," International Journal of Forecasting, Elsevier, vol. 40(2), pages 777-795.
    80. Garber, Gabriel & Mian, Atif & Ponticelli, Jacopo & Sufi, Amir, 2024. "Consumption smoothing or consumption binging? The effects of government-led consumer credit expansion in Brazil," Journal of Financial Economics, Elsevier, vol. 156(C).
    81. Ghassan, Hassan Belkacem & Krichene, Noureddine, 2023. "Theoretical and Analytical Approach of Financial Stability: Islamic Perspective," MPRA Paper 122963, University Library of Munich, Germany, revised 19 Feb 2024.
    82. Hempell, Hannah S. & Rancoita, Elena & Coi, Claudio Corte & Dadoukis, Aristeidis, 2025. "TLTRO III and banks' loan book rebalancing during the pandemic: less 'targeted' than intended for some?," Working Paper Series 3040, European Central Bank.
    83. Möhlmann, Axel & Vogel, Edgar, 2024. "Late payments on mortgage loans and unemployment: Evidence from a German household panel," Technical Papers 07/2024, Deutsche Bundesbank.
    84. Mate Rosan & Krunoslav Zauder, 2020. "Which Loans do We Take? A Micro-Level Analysis of Croatian Households’ Debt Participation," Working Papers 61, The Croatian National Bank, Croatia.
    85. Lai, Yehong, 2026. "The Phase Locking Distance Index and Dual Breach Principle: A Multi-Dimensional Framework for Synchronized Crisis Risk and Policy Evaluation in Advanced Economies, with Detailed Application to Australia and Canada," MPRA Paper 129087, University Library of Munich, Germany.
    86. Wenli Cheng, 2025. "Credit Creation: The “Good”, the “Bad” and the “Ugly”," Monash Economics Working Papers 2025-20, Monash University, Department of Economics.
    87. Rivero Wildemauwe, José Ignacio & Sanroman, Graciela, 2022. "Household debt and debt to income: The role of business ownership," The Quarterly Review of Economics and Finance, Elsevier, vol. 83(C), pages 52-68.
    88. Varadi, Alexandra, 2024. "Identifying the transmission channels of credit supply shocks to household debt: Price and non-price effects," European Economic Review, Elsevier, vol. 166(C).
    89. Alina K. Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike I. Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," CRC TR 224 Discussion Paper Series crctr224_2025_634, University of Bonn and University of Mannheim, Germany.
    90. Brown, Sarah & Gray, Daniel & Montagnoli, Alberto, 2019. "Credit supply shocks and household leverage: Evidence from the US banking deregulation," Journal of Financial Stability, Elsevier, vol. 43(C), pages 97-115.
    91. Cañizares Martínez, Carlos, 2025. "Dating housing booms fueled by credit: A Markov switching approach," Journal of Financial Stability, Elsevier, vol. 78(C).
    92. Bazley, William & Jannati, Sima, 2024. "The influence of regional sentiment on online borrowing," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    93. V. A. Pankova, 2022. "Modeling the Dynamics of Retail Lending in Russia: a Relationship with the Dynamics of Household Savings, Incomes, and Expenses," Studies on Russian Economic Development, Springer, vol. 33(6), pages 723-735, December.
    94. Morris A Davis & William D Larson & Stephen D Oliner & Benjamin R Smith, 2023. "A Quarter Century of Mortgage Risk," Review of Finance, European Finance Association, vol. 27(2), pages 581-618.
    95. António Afonso & Eduardo Sá Fortes Leitão Rodrigues, 2025. "Consumption patterns of indebted households: unravelling the relevance of fiscal policy," International Journal of Economic Policy Studies, Springer, vol. 19(1), pages 31-57, February.
    96. Nyholm, Juho & Voutilainen, Ville, 2021. "Quantiles of growth: Household debt and growth vulnerabilities in Finland," BoF Economics Review 2/2021, Bank of Finland.
    97. Engelbert Stockhammer & Christina Wolf, 2019. "Building blocks for the macroeconomics and political economy of housing," Working Papers PKWP1908, Post Keynesian Economics Society (PKES).
    98. Flannery, Mark J. & Lin, Leming & Wang, Luxi, 2022. "Housing booms and bank growth," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    99. Pedrosa, Ítalo & Brochier, Lídia & Freitas, Fabio, 2023. "Debt hierarchy: Autonomous demand composition, growth and indebtedness in a Supermultiplier model," Economic Modelling, Elsevier, vol. 126(C).
    100. Muellbauer, John, 2018. "The Future of Macroeconomics," INET Oxford Working Papers 2018-10, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    101. Maximilian Grimm & Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2023. "Loose Monetary Policy and Financial Instability," Working Paper Series 2023-06, Federal Reserve Bank of San Francisco.
    102. Amit Banerji & Anand Gaurav Chandravanshi, 2022. "Factors Effecting Private Consumption in India: An ARDL Approach," Jindal Journal of Business Research, , vol. 11(2), pages 107-122, December.
    103. Karolis Bielskis & Andrius Ciginas, 2020. "Household Wealth and Finances. Results for Households in Lithuania for 2017," Bank of Lithuania Discussion Paper Series 19, Bank of Lithuania.
    104. Singh, Bhupal, 2023. "Housing prices and macroprudential policies: Evidence from microdata," Economic Systems, Elsevier, vol. 47(1).
    105. Barasinska, Nataliya & Haenle, Philipp & Koban, Anne & Schmidt, Alexander, 2019. "Stress testing the German mortgage market," Discussion Papers 17/2019, Deutsche Bundesbank.
    106. Viktor Skyrman, 2023. "An Antidote for Securitization? How Covered Bonds Fuel Household Indebtedness in Sweden’s Financialized Growth Model," Working Papers PKWP2314, Post Keynesian Economics Society (PKES).
    107. Ann Sloan Devlin & Purba Mukerji, 2025. "Can Giving Straightforward, Personally Relevant Information Improve Financial Decision-Making?," Journal of Consumer Policy, Springer, vol. 48(4), pages 445-487, December.
    108. Buch, Claudia M. & Eickmeier, Sandra & Prieto, Esteban, 2022. "Banking deregulation, macroeconomic dynamics and monetary policy," Journal of Financial Stability, Elsevier, vol. 63(C).
    109. Farias, Maria Elisa, 2025. "Private and public debt: How much risk?," Finance Research Letters, Elsevier, vol. 86(PB).
    110. Boyao Li, 2023. "The macroeconomic effects of endogenous credit and money creation under Basel III regulations," Metroeconomica, Wiley Blackwell, vol. 74(4), pages 887-907, November.
    111. Jiaming Soh, 2019. "Disentangling the Supply and Demand Factors of Household Credit in Malaysia: Evidence from the Credit Register," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Are post-crisis statistical initiatives completed?, volume 49, Bank for International Settlements.
    112. Fernando Leibovici & David Wiczer, 2019. "Firm-level credit ratings and default in the Great Recession: Theory and evidence," 2019 Meeting Papers 1389, Society for Economic Dynamics.
    113. Ziwei Mei & Liugang Sheng & Zhentao Shi, 2023. "Nickell Bias in Panel Local Projection: Financial Crises Are Worse Than You Think," Papers 2302.13455, arXiv.org, revised Jan 2026.
    114. José Rivero & Graciela Sanroman, 2020. "Household Debt: the Role of Income and Business Ownership in a Small Emerging Country," Documentos de Trabajo (working papers) 0820, Department of Economics - dECON.
    115. Valérie Chauvin & John Muellbauer, 2018. "Consumption, household portfolios and the housing market in France," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 500-501-5, pages 157-178.
    116. Stephen G. Cecchetti & Enisse Kharroubi, 2018. "Why Does Credit Growth Crowd Out Real Economic Growth?," NBER Working Papers 25079, National Bureau of Economic Research, Inc.
    117. Chen, Guojin & Chen, Lingling & Liu, Yanzhen & Qu, Yuxuan, 2021. "Stock price bubbles, leverage and systemic risk," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 405-417.
    118. David Longworth, 2020. "The Era of Digital Financial Innovation: Lessons from Economic History on Regulation," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 568, March.
    119. Bahadir, Berrak & De, Kuhelika & Lastrapes, William D., 2020. "Household debt, consumption and inequality," Journal of International Money and Finance, Elsevier, vol. 109(C).
    120. Doojav, Gan-Ochir & Damdinjav, Davaasukh, 2019. "The policy-driven boom and bust in the housing market: Evidence from Mongolia," MPRA Paper 102933, University Library of Munich, Germany, revised 2019.
    121. Bahadir, Berrak & Gumus, Inci & Schaffer, Matthew, 2024. "Does relaxing household credit constraints hurt small business lending? Evidence from a policy change in Texas," Journal of Corporate Finance, Elsevier, vol. 89(C).
    122. Carlos Canizares Martinez, 2023. "Leaning against housing booms fueled by credit," Working and Discussion Papers WP 9/2023, Research Department, National Bank of Slovakia.
    123. Svensson, Lars E.O., 2020. "Macroprudential Policy and Household Debt: What is Wrong with Swedish Macroprudential Policy?," CEPR Discussion Papers 14585, Centre for Economic Policy Research.
    124. Li, Pei & Tang, Leo & Cloyd, C. Bryan, 2024. "Political polarization and state government bonds," Global Finance Journal, Elsevier, vol. 63(C).
    125. Koetter, Michael & Noth, Felix & Wöbbeking, Carl Fabian, 2025. "Contractionary macroprudential policy, collateral valuation, and risk-shifting in EU banking," IWH Discussion Papers 4/2025, Halle Institute for Economic Research (IWH), revised 2025.
    126. Di Bucchianico, Stefano, 2021. "Inequality, household debt, ageing and bubbles: A model of demand-side Secular Stagnation," IPE Working Papers 160/2021, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    127. Ray C. Fair, 2019. "Some Important Macro Points," Cowles Foundation Discussion Papers 2165, Cowles Foundation for Research in Economics, Yale University.
    128. Philipp Roderweis & Jamel Saadaoui & Francisco Serranito, 2023. "The Unintended Consequences of ECB’s Asset Purchases. How Excess Reserves Shape Bank Lending," Working Papers of BETA 2023-34, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    129. Khuderchuluun Batsukh & Nicolas Groshenny & Naveed Javed, 2025. "Monetary policy transmission and household indebtedness in Australia," TEPP Working Paper 2025-02, TEPP.
    130. Li, Boyao, 2021. "Bank equity, interest payments, and credit creation under Basel III regulations," MPRA Paper 111269, University Library of Munich, Germany.
    131. Li, Rui & Li, Jianping & Zhu, Xiaoqian, 2025. "Downside belief disagreements and financial instability: Evidence from risk factor disclosures in U.S. financial institutions’ 10-K filings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    132. Michel De Vroey, 2019. "Preface to the Chinese Edition of A History of Macroeconomics from Keynes to Lucas and Beyond," LIDAM Discussion Papers IRES 2019006, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    133. Michal Skara & Ladislava Issever Grochova, 2025. "Do inequality and fiscal redistribution matter when credit bites back?," MENDELU Working Papers in Business and Economics 2025-108, Mendel University in Brno, Faculty of Business and Economics.
    134. SUI, Qing-yuan, 2025. "Impact of Quantitative Easing on Bank Lending to Different Industries or Sectors," Discussion paper series HIAS-E-144, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.

  12. Gabriel Garber & Atif Mian & Jacopo Ponticelli & Amir Sufi, 2018. "Household Debt and Recession in Brazil," NBER Working Papers 25170, National Bureau of Economic Research, Inc.

    Cited by:

    1. Filipe Correia & Gustavo S. Cortes & Thiago C. Silva, 2021. "Is Corporate Credit Risk Propagated to Employees?," Working Papers Series 551, Central Bank of Brazil, Research Department.
    2. Rossi, Jose Luiz & Delmondes de Carvalho Rossi, Marina & Carvalho Cunha, Daniel, 2019. "Transmission of monetary policy through the wealth channel in Brazil: Does the type of asset matter?," Research in International Business and Finance, Elsevier, vol. 50(C), pages 279-293.
    3. Gabriel Garber & Atif Mian & Jacopo Ponticelli & Amir Sufi, 2020. "Government Banks, Household Debt, and Economic Downturns: The Case of Brazil," BIS Working Papers 876, Bank for International Settlements.
    4. Bertran, Maria Paula & Echeverry, David, 2021. "What is the size of credit card debt in Brazil? Reporting Thresholds, Interest Rates and Income Distribution," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).

  13. Atif Mian & Amir Sufi, 2018. "Credit Supply and Housing Speculation," NBER Working Papers 24823, National Bureau of Economic Research, Inc.

    Cited by:

    1. William Miles, 2023. "Regional house price co-movement in the USA: the medium cycle is not the business cycle," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 71(2), pages 437-462, October.
    2. Diego Ascarza-Mendoza & Tomás Rosé, 2026. "On the Welfare Gains of Housing Affordability," Working Paper Series of the School of Government and Public Transformation 23, School of Governement and Public Transformation.
    3. Hu, Mingya & Zhang, Yongjie & Feng, Xu, 2025. "Real estate price fluctuations and institutional misconduct," Finance Research Letters, Elsevier, vol. 86(PB).
    4. Gadi Barlevy & Jonas Fisher, 2021. "Why were interest only mortgages so population during U.S. housing boom?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 205-224, July.
    5. Lingxiao Li & Abdullah Yavas & Bing Zhu, 2023. "Externalities of residential property flipping," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(1), pages 233-271, January.
    6. Kuang, Pei & Mitra, Kaushik & Tang, Li & Xie, Shihan, 2026. "Macroprudential policy and housing market expectations," European Economic Review, Elsevier, vol. 181(C).
    7. Fudulache, Adina-Elena & Goetz, Martin R., 2023. "Long-term deposit funding and demand for central bank funds: Evidence from targeted longer-term refinancing operations," Discussion Papers 12/2023, Deutsche Bundesbank.
    8. Sergi Basco & Jair N. Ojeda-Joya, 2024. "House Prices and International Remittances: Evidence from Colombia," Borradores de Economia 1273, Banco de la Republica de Colombia.
    9. Florian Schuster & Marco Wysietzki & Jonas Zdrzalek, 2023. "How Heterogeneous Beliefs Trigger Financial Crises," ECONtribute Discussion Papers Series 238, University of Bonn and University of Cologne, Germany.
    10. Yeon-Jin Sim & Jeongmin Kim & Jaehyeon Choi & Jun-Ho Huh, 2022. "System Design for Detecting Real Estate Speculation Abusing Inside Information: For the Fair Reallocation of Land," Land, MDPI, vol. 11(4), pages 1-17, April.
    11. Greg Howard & Jack Liebersohn, 2023. "Regional Divergence and House Prices," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 312-350, July.
    12. Guangyang Chen & Kai Dong & Shaonan Wang & Xiuli Du & Ronghua Zhou & Zhongwei Yang, 2022. "The Dynamic Relationship among Bank Credit, House Prices and Carbon Dioxide Emissions in China," IJERPH, MDPI, vol. 19(16), pages 1-18, August.
    13. Gomes, João F. & Grotteria, Marco & Wachter, Jessica A., 2023. "Foreseen risks," Journal of Economic Theory, Elsevier, vol. 212(C).
    14. Jinwoong Lee, 2024. "What factors drive house prices in the USA? Sign restricted VAR approach," Empirical Economics, Springer, vol. 66(6), pages 2533-2556, June.
    15. Daniel I. García, 2022. "Second‐home buying and the housing boom and bust," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 33-58, March.
    16. Greg Buchak & Gregor Matvos & Tomasz Piskorski & Amit Seru, 2018. "Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy," NBER Working Papers 25149, National Bureau of Economic Research, Inc.
    17. Shi, Yining, 2022. "Financial liberalization and house prices: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 145(C).
    18. William Miles, 2020. "The Dynamics of House Prices and Income in the UK," International Real Estate Review, Global Social Science Institute, vol. 23(3), pages 397-416.
    19. Berger, Allen N. & Molyneux, Phil & Wilson, John O.S., 2020. "Banks and the real economy: An assessment of the research," Journal of Corporate Finance, Elsevier, vol. 62(C).
    20. Turnbull, Geoffrey K. & van der Vlist, Arno J., 2022. "The price of ignorance: Foreclosures, uninformed buyers and house prices," Journal of Housing Economics, Elsevier, vol. 57(C).
    21. Choi, Chi-Young & Hansz, J. Andrew, 2021. "From banking integration to housing market integration - Evidence from the comovement of U.S. Metropolitan House Prices," Journal of Financial Stability, Elsevier, vol. 54(C).
    22. Yoshiyuki Kikuchi & Meng Li & Yuxiong Xiao & Hangtian Xu & Yiming Zhou, 2025. "Financial Crisis and Within-City Heterogeneity in Land Prices: The Role of REIT Penetration," The Journal of Real Estate Finance and Economics, Springer, vol. 70(1), pages 144-187, January.
    23. Christa Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert van der Klaauw & Jialan Wang, 2025. "Consumer Credit Reporting Data," Journal of Economic Literature, American Economic Association, vol. 63(2), pages 598-636, June.
    24. Cingano, Federico & Hassan, Fadi, 2020. "International financial flows and misallocation," LSE Research Online Documents on Economics 108460, London School of Economics and Political Science, LSE Library.
    25. Albanesi, Stefania & DeGiorgi, Giacomo & Nosal, Jaromir, 2022. "Credit growth and the financial crisis: A new narrative," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 118-139.
    26. Maingi, Quinn, 2026. "Regional Banks, Aggregate Effects," Journal of Financial Economics, Elsevier, vol. 176(C).
    27. Yingying Qi & Guohua Yu & Xiang Liu & Yuanming Ren, 2023. "Housing wealth appreciation and heterogeneous household consumption: Evidence from China," PLOS ONE, Public Library of Science, vol. 18(10), pages 1-28, October.
    28. Abuzayed, Bana & Ben Ammar, Mouldi & Molyneux, Philip & Al-Fayoumi, Nedal, 2024. "Corruption, lending and bank performance," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 802-830.
    29. Dong, Ding & Liu, Zheng & Wang, Pengfei & Zha, Tao, 2022. "A theory of housing demand shocks," Journal of Economic Theory, Elsevier, vol. 203(C).
    30. Korevaar, Matthijs, 2023. "Reaching for yield and the housing market: Evidence from 18th-century Amsterdam," Journal of Financial Economics, Elsevier, vol. 148(3), pages 273-296.
    31. DeFusco, Anthony A. & Nathanson, Charles G. & Zwick, Eric, 2022. "Speculative dynamics of prices and volume," Journal of Financial Economics, Elsevier, vol. 146(1), pages 205-229.
    32. ÅžimÅŸek, Alp & Caballero, Ricardo, 2019. "A Risk-centric Model of Demand Recessions and Speculation," CEPR Discussion Papers 13815, Centre for Economic Policy Research.
    33. Pirozhkova, Ekaterina & Viegi, Nicola, 2025. "The bank lending channel of monetary policy transmission in South Africa," The Quarterly Review of Economics and Finance, Elsevier, vol. 104(C).
    34. Drechsler, Itamar & Savov, Alexi & Schnabl, Philipp, 2022. "How monetary policy shaped the housing boom," Journal of Financial Economics, Elsevier, vol. 144(3), pages 992-1021.
    35. Viral V. Acharya & Katharina Bergant & Matteo Crosignani & Tim Eisert & Fergal Mccann, 2022. "The Anatomy of the Transmission of Macroprudential Policies," Journal of Finance, American Finance Association, vol. 77(5), pages 2533-2575, October.
    36. Andriantomanga, Zo & Kishor, N. Kundan & Kumar, Labesh, 2025. "Interest Rate Misalignments and Monetary Policy Effects: Evidence from U.S. States," MPRA Paper 124748, University Library of Munich, Germany.
    37. Heilbron, John, 2021. "Mortgage Lending Limits and Housing Demand: Evidence from Bunching in FHA Borrowing," MPRA Paper 125714, University Library of Munich, Germany.
    38. Alina Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 57, July.
    39. Laura Blattner & Scott Nelson, 2021. "How Costly is Noise? Data and Disparities in Consumer Credit," Papers 2105.07554, arXiv.org.
    40. Gillitzer, Christian & Prasad, Nalini, 2025. "The effects of macroprudential policy restricting housing investor credit supply," Journal of Urban Economics, Elsevier, vol. 149(C).
    41. Tomasz Piskorski & Amit Seru, 2018. "Debt Relief and Slow Recovery: A Decade after Lehman," NBER Working Papers 25403, National Bureau of Economic Research, Inc.
    42. Vera Baye & Valeriya Dinger, 2025. "Monetary Policy and Real Estate Price Distortions: How Bank Lending Amplifies Housing Market Imbalances," IEER Working Papers 126, Institute of Empirical Economic Research, Osnabrueck University.
    43. Lili Yang & Jian Wang & Yuhao Feng & Qun Wu, 2022. "The Impact of the Regional Differentiation of Land Supply on Total Factor Productivity in China: From the Perspective of Total Factor Productivity Decomposition," Land, MDPI, vol. 11(10), pages 1-17, October.
    44. Xu, Hangtian & Zheng, Wenzhuo, 2024. "Growth-driven shantytown redevelopment and housing market dynamics in the low-tier cities of China," MPRA Paper 124326, University Library of Munich, Germany.
    45. Ziwei Mei & Liugang Sheng & Zhentao Shi, 2023. "Nickell Bias in Panel Local Projection: Financial Crises Are Worse Than You Think," Papers 2302.13455, arXiv.org, revised Jan 2026.
    46. Chi-Young Choi & Alexander Chudik & Aaron Smallwood, 2024. "Time-varying Persistence of House Price Growth: The Role of Expectations and Credit Supply," Globalization Institute Working Papers 426, Federal Reserve Bank of Dallas.
    47. James N. Conklin & Haoyang Liu & Calvin Zhang, 2024. "Credit supply shocks, home purchase volume, and borrowing behavior," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 52(2), pages 486-513, March.
    48. Mitra, Aruni & Wei, Mengying, 2025. "Long shadow of the U.S. mortgage expansion: Evidence from local labour markets," European Economic Review, Elsevier, vol. 172(C).
    49. Vipul Bhatt & N. Kundan Kishor, 2025. "(A)Synchronous Housing Markets of Global Cities," The Journal of Real Estate Finance and Economics, Springer, vol. 71(2), pages 178-208, August.
    50. Rohan Ganduri, 2023. "What drives screening incentives in nonbank mortgage originators?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(6), pages 1321-1355, November.
    51. Muchenje, Linda Tinofirei & Coupe, Tom & Dang, Huong Dieu, 2025. "Credit development and ESG performance: Cross-country evidence," Research in International Business and Finance, Elsevier, vol. 78(C).
    52. Hangtian Xu, 2023. "Commercial‐to‐residential land‐use conversion and residential recentralization in large cities," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(1), pages 306-338, February.

  14. Atif Mian & Amir Sufi & Emil Verner, 2017. "How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s," NBER Working Papers 23802, National Bureau of Economic Research, Inc.

    Cited by:

    1. Greg Buchak, 2024. "Financing the Gig Economy," Journal of Finance, American Finance Association, vol. 79(1), pages 219-256, February.
    2. Illing, Gerhard & Ono, Yoshiyasu & Schlegl, Matthias, 2018. "Credit booms, debt overhang and secular stagnation," European Economic Review, Elsevier, vol. 108(C), pages 78-104.
    3. Auclert, Adrien & Dobbie, Will & Goldsmith-Pinkham, Paul, 2019. "Macroeconomic Effects of Debt Relief: Consumer Bankruptcy Protections in the Great Recession," CEPR Discussion Papers 13598, Centre for Economic Policy Research.
    4. Berrak Bahadir & Inci Gumus, 2021. "Transmission of Household and Business Credit Shocks in Emerging Markets: The Role of Real Estate," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(S2), pages 587-617, September.
    5. Emily Breza & Cynthia Kinnan, 2018. "Measuring the Equilibrium Impacts of Credit: Evidence from the Indian Microfinance Crisis," NBER Working Papers 24329, National Bureau of Economic Research, Inc.
    6. David Aikman & Jonathan Bridges & Stephen Burgess & Richard Galletly & Iren Levina & Cian O'Neill & Alexandra Varadi, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.
    7. Katarzyna Budnik & Gerhard Rünstler, 2023. "Identifying structural VARs from sparse narrative instruments: Dynamic effects of US macroprudential policies," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(2), pages 186-201, March.
    8. Enrico Perotti & Magdelena Rola-Janicka, 2019. "Funding Shocks and Credit Quality," Tinbergen Institute Discussion Papers 19-060/IV, Tinbergen Institute.
    9. Luke Petach, 2020. "Local financialization, household debt, and the great recession," Papers in Regional Science, Wiley Blackwell, vol. 99(3), pages 807-839, June.
    10. Francesco Manaresi & Nicola Pierri, 2018. "Credit supply and productivity growth," BIS Working Papers 711, Bank for International Settlements.
    11. Peter Bednarek & Daniel Marcel te Kaat & Chang Ma & Alessandro Rebucci, 2020. "Capital Flows, Real Estate, and Local Cycles: Evidence from German Cities, Banks, and Firms," NBER Working Papers 26820, National Bureau of Economic Research, Inc.
    12. Francesco Manaresi & Nicola Pierri, 2018. "Credit supply and productivity growth," Temi di discussione (Economic working papers) 1168, Bank of Italy, Economic Research and International Relations Area.
    13. Cingano, Federico & Hassan, Fadi, 2020. "International financial flows and misallocation," LSE Research Online Documents on Economics 108460, London School of Economics and Political Science, LSE Library.
    14. Bashir Ahmad Joo & Simtiha Ishaq Mir, 2024. "Evolution of the Household Debt Narrative: A PRISMA-compliant Systematic Literature Review," Paradigm, , vol. 28(1), pages 84-100, June.
    15. Gustavo Joaquim & Bernardus Van Doornik & José Renato Ornelas, 2019. "Bank Competition, Cost of Credit and Economic Activity: evidence from Brazil," Working Papers Series 508, Central Bank of Brazil, Research Department.
    16. Anastasios Evgenidis & Anastasios G. Malliaris, 2022. "Monetary policy, financial shocks and economic activity," Review of Quantitative Finance and Accounting, Springer, vol. 59(2), pages 429-456, August.
    17. Peterson K. Ozili & Jide Oladipo & Paul Terhemba Iorember, 2022. "Effect of abnormal credit expansion and contraction on GDP per capita in ECOWAS countries," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 51(3), November.
    18. Alina Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 57, July.
    19. Kim, Jeong Ho (John) & Lee, Heebum & Lee, Sung Kwan, 2022. "Do credit supply shocks affect fertility choices?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    20. Thanh Nguyen & Arsenio Staer & Jing Yang, 2024. "Productivity Shocks of Dominant Companies and Local Housing Markets," International Real Estate Review, Global Social Science Institute, vol. 27(2), pages 203-247.
    21. Miguel Faria-e-Castro, 2019. "A Quantitative Analysis of Countercyclical Capital Buffers," Working Papers 2019-008, Federal Reserve Bank of St. Louis, revised 01 Jan 2020.
    22. John (Jianqiu) Bai & Daniel Carvalho & Gordon M. Phillips, 2017. "The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity," NBER Working Papers 24081, National Bureau of Economic Research, Inc.
    23. Francesco Manaresi & Mr. Nicola Pierri, 2019. "Credit Supply and Productivity Growth," IMF Working Papers 2019/107, International Monetary Fund.

  15. Atif Mian & Amir Sufi, 2016. "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt," NBER Working Papers 22256, National Bureau of Economic Research, Inc.

    Cited by:

    1. Björn Richter & Moritz Schularick & Paul Wachtel, 2021. "When to Lean against the Wind," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 5-39, February.
    2. Gianluca Cafiso, 2022. "Loans to Different Groups and Economic Activity at Times of Crisis and Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 594-623, June.
    3. Filipe Correia & Gustavo S. Cortes & Thiago C. Silva, 2021. "Is Corporate Credit Risk Propagated to Employees?," Working Papers Series 551, Central Bank of Brazil, Research Department.
    4. Charles Ka Yui Leung & Joe Cho Yiu Ng, 2018. "Macro Aspects of Housing," Globalization Institute Working Papers 340, Federal Reserve Bank of Dallas.
    5. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819.
    6. Daminato, Claudio & Pistaferri, Luigi, 2020. "Family labor supply and asset returns," European Economic Review, Elsevier, vol. 124(C).
    7. Lauren Peritz & Ryan Weldzius & Ronald Rogowski & Thomas Flaherty, 2022. "Enduring the great recession: Economic integration in the European Union," The Review of International Organizations, Springer, vol. 17(1), pages 175-203, January.
    8. S. Boragan Aruoba & Ronel Elul & Sebnem Kalemli Ozcan, 2022. "Housing Wealth and Consumption: The Role of Heterogeneous Credit Constraints," Working Papers 22-34, Federal Reserve Bank of Philadelphia.
    9. Nomatye, Anelisa & Phiri, Andrew, 2017. "Investigating the macroeconomic determinants of household debt in South Africa," MPRA Paper 83303, University Library of Munich, Germany.
    10. Wang, Bingbing, 2022. "Housing market volatility under COVID-19: Diverging response of demand in luxury and low-end housing markets," Land Use Policy, Elsevier, vol. 119(C).
    11. David Hendry & John Muellbauer, 2017. "The future of macroeconomics: Macro theory and models at the Bank of England," Economics Series Working Papers 832, University of Oxford, Department of Economics.
    12. Inhwa Kim, 2024. "Dreaming for unveiling housing inequality: mortgage lending disparities within the heartland of America," SN Business & Economics, Springer, vol. 4(10), pages 1-54, October.
    13. Sujata Saha, 2023. "Impact of House Price Changes on Durable and Non-Durable Consumption in the United States," International Real Estate Review, Global Social Science Institute, vol. 26(1), pages 73-93.
    14. Bielskis, Karolis & Lastauskas, Povilas, 2024. "The role of housing market and credit on household consumption dynamics: Evidence from the OECD countries," Journal of Economic Behavior & Organization, Elsevier, vol. 228(C).
    15. Turdaliev, Nurlan, 2019. "Monetary policy, heterogeneous population and inflation," Research in Economics, Elsevier, vol. 73(4), pages 277-292.
    16. Mr. Adrian Alter & Elizabeth M. Mahoney, 2020. "Household Debt and House Prices-at-risk: A Tale of Two Countries," IMF Working Papers 2020/042, International Monetary Fund.
    17. Kaplan, Greg & Mitman, Kurt & Violante, Giovanni L., 2020. "Non-durable consumption and housing net worth in the Great Recession: Evidence from easily accessible data," Journal of Public Economics, Elsevier, vol. 189(C).
    18. Adhikari, Tamanna, 2022. "Inflation and mortgage repayments: the household expenditure channel," Financial Stability Notes 6/FS/22, Central Bank of Ireland.
    19. Haliassos, Michael & Gomes, Francisco, 2020. "Household Finance," CEPR Discussion Papers 14502, Centre for Economic Policy Research.
    20. Jiaming Soh & Amanda Chong & Kue-Peng Chuah, 2017. "Household credit, growth and inequality in Malaysia: does the type of credit matter?," BIS Papers chapters, in: Bank for International Settlements (ed.), Financial systems and the real economy, volume 91, pages 39-59, Bank for International Settlements.
    21. Jung Sakong, 2026. "Who Buys High and Sells Low: Trading against Expected Returns and Wealth Inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 61, August.
    22. Jonathan Heathcote & Fabrizio Perri, 2018. "Wealth and Volatility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(4), pages 2173-2213.
    23. Konstantina Manou & Panagiotis Palaios & Evangelia Papapetrou, 2019. "Housing wealth, household debt and financial assets: are there implications for consumption?," Working Papers 263, Bank of Greece.
    24. Muellbauer, John, 2018. "The Future of Macroeconomics," INET Oxford Working Papers 2018-10, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    25. Brian S. Chen & Samuel G. Hanson & Jeremy C. Stein, 2017. "The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets," NBER Working Papers 23843, National Bureau of Economic Research, Inc.
    26. Fernando Alexandre & Hélder Costa & Miguel Portela & Miguel Rodrigues, 2018. "Asymmetric regional dynamics: from bust to recovery," NIPE Working Papers 17/2018, NIPE - Universidade do Minho.
    27. Alfred Duncan & Charles Nolan, 2017. "Financial Frictions in Macroeconomic Models," Studies in Economics 1719, School of Economics, University of Kent.
    28. Mr. Tobias Adrian & Andrea Deghi & Mitsuru Katagiri & Mr. Sohaib Shahid & Nico Valckx, 2020. "Predicting Downside Risks to House Prices and Macro-Financial Stability," IMF Working Papers 2020/011, International Monetary Fund.
    29. Alter, Adrian & Mahoney, Elizabeth M., 2021. "Local house-price vulnerability: Evidence from the U.S. and Canada," Journal of Housing Economics, Elsevier, vol. 54(C).

  16. Atif R. Mian & Amir Sufi, 2015. "Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005," NBER Working Papers 20947, National Bureau of Economic Research, Inc.

    Cited by:

    1. Kirti, Divya, 2018. "Lending standards and output growth," ESRB Working Paper Series 79, European Systemic Risk Board.
    2. Saadi, Vahid, 2016. "Mortgage supply and the US housing boom: The role of the community reinvestment act," IWH Discussion Papers 32/2016, Halle Institute for Economic Research (IWH).
    3. Schneider, Martin & Piazzesi, Monika, 2016. "Housing and macroeconomics," CEPR Discussion Papers 11519, Centre for Economic Policy Research.
    4. Kiana Basiri & Babak Mahmoudi, 2021. "Possible income misstatement on mortgage loan applications: Evidence from the Canadian housing market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(3), pages 917-935, September.
    5. James N. Conklin & Moussa Diop & Thao Le & Walter D’Lima, 2019. "The Importance of Originator-Servicer Affiliation in Loan Renegotiation," The Journal of Real Estate Finance and Economics, Springer, vol. 59(1), pages 56-89, July.
    6. Ronel Elul & Aaron Payne & Sebastian Tilson, 2023. "Owner-Occupancy Fraud and Mortgage Performance," Working Papers 23-01, Federal Reserve Bank of Philadelphia.
    7. Patir, Assaf, 2017. "Securitization, bank vigilance, leverage and sudden stops," MPRA Paper 81463, University Library of Munich, Germany.
    8. Begley, Taylor A. & Purnanandam, Amiyatosh, 2021. "Color and credit: Race, regulation, and the quality of financial services," Journal of Financial Economics, Elsevier, vol. 141(1), pages 48-65.
    9. Griffin, John M. & Kruger, Samuel & Maturana, Gonzalo, 2021. "What drove the 2003–2006 house price boom and subsequent collapse? Disentangling competing explanations," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1007-1035.
    10. Christopher L. Foote & Lara Loewenstein & Paul S. Willen, 2018. "Technological Innovation in Mortgage Underwriting and the Growth in Credit: 1985-2015," Working Papers (Old Series) 1816, Federal Reserve Bank of Cleveland.
    11. James Conklin & Moussa Diop & Mingming Qiu, 2022. "Religion and Mortgage Misrepresentation," Journal of Business Ethics, Springer, vol. 179(1), pages 273-295, August.
    12. Dou, Yiwei & Hung, Mingyi & She, Guoman & Wang, Lynn Linghuan, 2024. "Learning from peers: Evidence from disclosure of consumer complaints," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    13. Griffin, John M. & Kruger, Samuel & Maturana, Gonzalo, 2019. "Do labor markets discipline? Evidence from RMBS bankers," Journal of Financial Economics, Elsevier, vol. 133(3), pages 726-750.
    14. Brent W. Ambrose & Moussa Diop & Walter D’Lima & Mark Thibodeau, 2019. "Risk and Performance of Mutual Funds’ Securitized Mortgage Investments," The Journal of Real Estate Finance and Economics, Springer, vol. 59(4), pages 515-548, November.
    15. Cindy M. Vojtech & Benjamin S. Kay & John C. Driscoll, 2016. "The Real Consequences of Bank Mortgage Lending Standards," Working Papers 16-05, Office of Financial Research, US Department of the Treasury.
    16. Mikhed, Vyacheslav & Raina, Sahil & Scholnick, Barry & Zhang, Man, 2024. "Debtor income manipulation in consumer credit contracts," Journal of Financial Economics, Elsevier, vol. 157(C).
    17. Primiceri, Giorgio & Justiniano, Alejandro & Tambalotti, Andrea, 2017. "The Mortgage Rate Conundrum," CEPR Discussion Papers 12265, Centre for Economic Policy Research.
    18. Fatih Tuluk, 2021. "Collateral Misrepresentation, External Auditing, and Optimal Supervisory Policy," Open Economies Review, Springer, vol. 32(5), pages 975-1016, November.
    19. Samuel Kruger & Gonzalo Maturana, 2021. "Collateral Misreporting in the Residential Mortgage-Backed Security Market," Management Science, INFORMS, vol. 67(5), pages 2729-2750, May.
    20. Oleksandr Talavera & Haofeng Xu, 2018. "Role of Verification in Peer-to-Peer Lending," Working Papers 2018-25, Swansea University, School of Management.
    21. Brent W. Ambrose & James Conklin & Jiro Yoshida, 2016. "Credit Rationing, Income Exaggeration, and Adverse Selection in the Mortgage Market," Journal of Finance, American Finance Association, vol. 71(6), pages 2637-2686, December.
    22. Morris A. Davis & William D. Larson & Stephen D. Oliner & Benjamin Smith, 2019. "Mortgage Risk Since 1990," FHFA Staff Working Papers 19-02, Federal Housing Finance Agency.
    23. Wu, Di & Sam, Abdoul G. & Wang, Xiangrui, 2024. "Spillover effects of financial deregulation: The unintended consequences of the OCC preemption rule on mortgage lending practices," International Review of Financial Analysis, Elsevier, vol. 95(PC).
    24. Ronel Elul & Aaron Payne & Sebastian Tilson, 2023. "Owner‐occupancy fraud and mortgage performance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(5), pages 1137-1177, September.
    25. Tim Zhang, 2022. "Uniform Mortgage Regulation and Distortion in Capital Allocation [Loan originations and defaults in the mortgage crisis: the role of the middle class]," Review of Finance, European Finance Association, vol. 26(4), pages 1011-1050.
    26. Rojas, Alejandro, 2021. "Mortgage credit growth for lower-income borrowers during the 2000s housing boom: Evidence and implications," Journal of Empirical Finance, Elsevier, vol. 62(C), pages 220-233.
    27. Abdullah Yavas & Shuang Zhu, 2024. "Misreporting of second liens in portfolio mortgages and privately securitized mortgages," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 52(1), pages 73-109, January.
    28. Manthos D. Delis & Panagiotis Papadopoulos, 2019. "Mortgage Lending Discrimination Across the U.S.: New Methodology and New Evidence," Journal of Financial Services Research, Springer;Western Finance Association, vol. 56(3), pages 341-368, December.
    29. Manthos D. Delis & Iftekhar Hasan & Chris Tsoumas, 2019. "The income elasticity of mortgage loan demand," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 28(2), pages 115-139, May.
    30. Arthur Acolin & Xudong An & Raphael W. Bostic & Susan M. Wachter, 2017. "Homeownership and Nontraditional and Subprime Mortgages," Housing Policy Debate, Taylor & Francis Journals, vol. 27(3), pages 393-418, May.
    31. Slava Mikhed & Sahil Raina & Barry Scholnick & Man Zhang, 2022. "Debtor Fraud in Consumer Debt Renegotiation," Working Papers 22-35, Federal Reserve Bank of Philadelphia.
    32. Saadi, Vahid, 2019. "Mortgage supply and the US housing boom: The role of the Community Reinvestment Act," SAFE Working Paper Series 155, Leibniz Institute for Financial Research SAFE, revised 2019.
    33. Luis Arturo Lopez & Shawn J. McCoy & Vivek Sah, 2022. "Steering consumers to lenders in residential real estate markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1596-1641, November.
    34. Conklin, James N. & Frame, W. Scott & Gerardi, Kristopher & Liu, Haoyang, 2022. "Villains or scapegoats? The role of subprime borrowers in driving the U.S. housing boom," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    35. GUERRON-QUINTANA, Pablo A. & JINNAI, Ryo & 陣内, 了, 2015. "Financial Frictions, Trends, and the Great Recession," Discussion paper series HIAS-E-14, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    36. Zhao, Meiyu & Zhang, Bo, 2023. "Credit corruption, financial constraint and corporate innovation: Evidence on China," Finance Research Letters, Elsevier, vol. 53(C).
    37. Sumit Agarwal & Brent W. Ambrose & Vincent W. Yao, 2020. "Lender Steering in Residential Mortgage Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(2), pages 446-475, June.
    38. Christopher L. Foote & Lara Loewenstein & Paul S. Willen, 2019. "Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence and Implications," Working Papers 19-19, Federal Reserve Bank of Cleveland.
    39. Kaiji Chen & Qing Wang & Tong Xu & Tao Zha, 2025. "Aggregate and distributional impacts of LTV policy in China," Quantitative Economics, Econometric Society, vol. 16(4), pages 1361-1408, November.
    40. John M. Griffin & Samuel Kruger & Prateek Mahajan, 2023. "Did FinTech Lenders Facilitate PPP Fraud?," Journal of Finance, American Finance Association, vol. 78(3), pages 1777-1827, June.
    41. Sahiba Khan & Ranjit Singh & Jayashree Bhattacharjee, 2025. "Factors affecting the probability of funding success and default risk of borrowers in P2P lending: a social network analysis approach," Journal of Marketing Analytics, Palgrave Macmillan, vol. 13(3), pages 645-667, September.
    42. W. Scott Frame & Kristopher Gerardi & Erik J. Mayer & Billy Xu & Lawrence Zhao, 2024. "Government Litigation Risk and the Decline in Low-Income Mortgage Lending," FRB Atlanta Working Paper 2024-6, Federal Reserve Bank of Atlanta.
    43. Atif Mian & Amir Sufi, 2015. "Household Debt and Defaults from 2000 to 2010: Facts from Credit Bureau Data," NBER Working Papers 21203, National Bureau of Economic Research, Inc.

  17. Atif R. Mian & Amir Sufi & Emil Verner, 2015. "Household Debt and Business Cycles Worldwide," NBER Working Papers 21581, National Bureau of Economic Research, Inc.

    Cited by:

    1. Karlström, Peter, 2025. "Macroprudential policy and systemic risk: The role of corporate and household credit booms," Journal of Financial Stability, Elsevier, vol. 78(C).
    2. Ying’ai Piao & Meiru Li & Hongyuan Sun & Ying Yang, 2023. "Income Inequality, Household Debt, and Consumption Growth in the United States," Sustainability, MDPI, vol. 15(5), pages 1-13, February.
    3. Xavier Freixas & Luz Mary Pinzón, 2025. "Does Local Credit Matter? The Spanish Case," Working Papers 1512, Barcelona School of Economics.
    4. Cian Allen, 2018. "Revisiting External Imbalances: Insights from Sectoral Accounts," 2018 Papers pal913, Job Market Papers.
    5. Sarah Brown & Daniel Gray & Alberto Montagnoli, 2018. "Credit Supply Shocks and Household Leverage: Evidence from the US Banking Deregulation," Working Papers 2018009, The University of Sheffield, Department of Economics.
    6. Bationo, François d'Assises Babou & Murinde, Victor & Soumaré, Issouf, 2025. "Cross-border banking and the transmission of global shocks to credit cycles in developing economies: A commodity price cycles channel," International Review of Financial Analysis, Elsevier, vol. 106(C).
    7. Peydró, José-Luis & Rodriguez-Tous, Francesc & Tripathy, Jagdish & Uluc, Arzu, 2020. "Macroprudential Policy, Mortgage Cycles and Distributional Effects: Evidence from the UK," EconStor Preprints 223303, ZBW - Leibniz Information Centre for Economics.
    8. Hristov, Nikolay & Roth, Markus, 2019. "Uncertainty shocks and financial crisis indicators," Discussion Papers 36/2019, Deutsche Bundesbank.
    9. Lang, Jan Hannes & Welz, Peter, 2018. "Semi-structural credit gap estimation," Working Paper Series 2194, European Central Bank.
    10. Robin Greenwood & Samuel G. Hanson & Lawrence J. Jin, 2019. "Reflexivity in Credit Markets," NBER Working Papers 25747, National Bureau of Economic Research, Inc.
    11. Björn Richter & Moritz Schularick & Paul Wachtel, 2021. "When to Lean against the Wind," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 5-39, February.
    12. Yuting BAI & Jun Hyung KIM & Anqi LI & Shiko MARUYAMA & Zhe YANG, 2025. "A House for My Family: The impacts of down payment rate on marriage and fertility," Discussion papers 25056, Research Institute of Economy, Trade and Industry (RIETI).
    13. Mikel Bedayo & Gabriel Jiménez & José-Luis Peydró & Raquel Vegas, 2020. "Screening and loan origination time: lending standards, loan defaults and bank failures," Working Papers 2037, Banco de España.
    14. Matthew B. Canzoneri & Behzad T. Diba & Luca Guerrieri & Arsenii Mishin, 2020. "Optimal Dynamic Capital Requirements and Implementable Capital Buffer Rules," Finance and Economics Discussion Series 2020-056, Board of Governors of the Federal Reserve System (U.S.).
    15. Sala, Hector & Trivín, Pedro, 2022. "Family Finances and Debt Overhang: Evolving Consumption Patterns of Spanish Households," IZA Discussion Papers 15222, IZA Network @ LISER.
    16. Xavier Giroud & Holger M. Mueller, 2018. "Firm Leverage and Regional Business Cycles," NBER Working Papers 25325, National Bureau of Economic Research, Inc.
    17. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    18. Ыбраев Ж. // Ybrayev Zh., 2024. "Макроэкономическая активность и контр-циклический буфер капитала в Казахстане // Macroeconomic Activity and Countercyclical Capital Buffer in Kazakhstan," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 92-100.
    19. Coibion, Olivier & Gorodnichenko, Yuriy & Weber, Michael, 2020. "The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending," IZA Discussion Papers 13224, IZA Network @ LISER.
    20. Zheng Liu & Pengfei Wang & Tao Zha, 2019. "A Theory of Housing Demand Shocks," NBER Working Papers 25667, National Bureau of Economic Research, Inc.
    21. Emmanuel Carré & Guillaume L’œillet, 2018. "The Literature on the Finance–Growth Nexus in the Aftermath of the Financial Crisis: A Review," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(1), pages 161-180, March.
    22. Taylor, Alan M. & Benguria, Felipe, 2019. "After the Panic: Are Financial Crises Demand or Supply Shocks? Evidence from International Trade," CEPR Discussion Papers 13702, Centre for Economic Policy Research.
    23. Dimitrios Asteriou & Konstantinos Spanos, 2022. "Credit to private sector, household debt and economic growth: An empirical investigation of EU countries," Economics and Business Letters, Oviedo University Press, vol. 11(4), pages 34-142.
    24. Grohmann, Antonia & Hamdan, Jana S., 2020. "The Effect of Self-Control on Borrowing: Experimental Evidence," Rationality and Competition Discussion Paper Series 264, CRC TRR 190 Rationality and Competition.
    25. Manuel Adelino & William B. McCartney & Antoinette Schoar, 2020. "The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market," NBER Working Papers 27499, National Bureau of Economic Research, Inc.
    26. Khan, Salman & Azmat, Saad, 2020. "Debt externality in equity markets: Leveraged portfolios and Islamic indices," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 152-177.
    27. Lorenzo Bretscher & Alex Hsu & Andrea Tamoni, 2019. "Response of the Macroeconomy to Uncertainty Shocks:the Risk Premium Channel," 2019 Meeting Papers 1567, Society for Economic Dynamics.
    28. Turdaliev, Nurlan & Zhang, Yahong, 2019. "Household debt, macroprudential rules, and monetary policy," Economic Modelling, Elsevier, vol. 77(C), pages 234-252.
    29. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    30. Joana David Avritzer & Lídia Brochier, 2022. "Household credit-financed consumption and the debt service ratio: tackling endogenous autonomous demand in the Supermultiplier model," Working Papers PKWP2219, Post Keynesian Economics Society (PKES).
    31. Cronin, David & McQuinn, Kieran, 2022. "The housing net worth channel and the public finances: Evidence from a European country panel," Papers WP730, Economic and Social Research Institute (ESRI).
    32. Robin Greenwood & Samuel G. Hanson & Andrei Shleifer & Jakob Ahm Sørensen, 2020. "Predictable Financial Crises," NBER Working Papers 27396, National Bureau of Economic Research, Inc.
    33. David Loschiavo, 2016. "Household debt and income inequality: evidence from Italian survey data," Temi di discussione (Economic working papers) 1095, Bank of Italy, Economic Research and International Relations Area.
    34. Rüth, Sebastian K. & Simon, Camilla, 2022. "How do income and the debt position of households propagate fiscal stimulus into consumption?," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    35. Sala, Hector & Trivin, Pedro, 2024. "Household finances, debt overhang and consumption patterns," Economic Modelling, Elsevier, vol. 139(C).
    36. Deeksha Gupta & Itay Goldstein, 2016. "Sustainable Housing Policy," 2016 Meeting Papers 607, Society for Economic Dynamics.
    37. Hakan Kara, 2016. "A brief assessment of Turkey's macroprudential policy approach : 2011–2015," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 16(3), pages 85-92.
    38. Fraccaroli, Nicolò & Sowerbutts, Rhiannon & Whitworth, Andrew, 2025. "Does regulatory and supervisory independence affect financial stability?," Journal of Banking & Finance, Elsevier, vol. 170(C).
    39. Liu, Jiankun & He, Xiaobin & Dong, Yinxi, 2024. "Household debt and children’s psychological well-being in China: The mediating role of parent–child relations," Children and Youth Services Review, Elsevier, vol. 157(C).
    40. Caner, Mehmet & Fan, Qingliang & Grennes, Thomas, 2021. "Partners in debt: An endogenous non-linear analysis of the effects of public and private debt on growth," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 694-711.
    41. Helmut Herwartz & Christian Ochsner & Hannes Rohloff, 2021. "The Credit Composition of Global Liquidity," MAGKS Papers on Economics 202115, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    42. Georgescu, Oana-Maria & Martín, Diego Vila, 2021. "Do macroprudential measures increase inequality? Evidence from the euro area household survey," Working Paper Series 2567, European Central Bank.
    43. Müller, Karsten, 2019. "Electoral cycles in macroprudential regulation," ESRB Working Paper Series 106, European Systemic Risk Board.
    44. Berrak Bahadir & Inci Gumus, 2021. "Transmission of Household and Business Credit Shocks in Emerging Markets: The Role of Real Estate," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(S2), pages 587-617, September.
    45. Hodula, Martin & Janků, Jan & Pfeifer, Lukáš, 2023. "Macro-prudential policies to contain the effect of structural risks on financial downturns," Journal of Policy Modeling, Elsevier, vol. 45(6), pages 1204-1222.
    46. Paulo Maio, 2025. "Does Dividend Policy Lead the Economy?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(8), pages 2287-2308, December.
    47. Kristin J. Forbes, 2020. "The International Aspects of Macroprudential Policy," NBER Working Papers 27698, National Bureau of Economic Research, Inc.
    48. Yuan, Gecheng & Fang, Jie & Sun, Yongping, 2024. "The impact of Fintech on the nexus between household debt and financial crises: A global perspective," Economic Modelling, Elsevier, vol. 130(C).
    49. Giorgio Calcagnini & Federico Favaretto & Germana Giombini & Fabio Tramontana, 2025. "Household Financial Fragility, Debt and Income in a Dynamic Model," Computational Economics, Springer;Society for Computational Economics, vol. 65(2), pages 963-988, February.
    50. Carlos Garriga & Pedro Gete & Athena Tsouderou, 2023. "The economic effects of real estate investors," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(3), pages 655-685, May.
    51. Kukk, Merike & Levenko, Natalia, 2024. "Measuring the effects of borrower-based policies on new housing loans," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 666-684.
    52. Julien Pénasse & Luc Renneboog, 2022. "Speculative Trading and Bubbles: Evidence from the Art Market," Management Science, INFORMS, vol. 68(7), pages 4939-4963, July.
    53. Altavilla, Carlo & Laeven, Luc & Peydró, José-Luis, 2020. "Monetary and macroprudential policy complementarities: evidence from European credit registers," Working Paper Series 2504, European Central Bank.
    54. Gabriela Araujo & David Rivero Leiva & Hugo Rodríguez Mendizábal, 2026. "Endogenous Bank Risks and the Lending Channel of Monetary Policy," Working Papers 1549, Barcelona School of Economics.
    55. Wix, Carlo, 2017. "The long-run real effects of banking crises: Firm-level investment dynamics and the role of wage rigidity," SAFE Working Paper Series 189, Leibniz Institute for Financial Research SAFE.
    56. Murat Cakir, 2017. "A conceptual design of "what and how should a proper macro-prudential policy framework be?" A globalistic approach to systemic risk and procuring the data needed," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Uses of central balance sheet data offices' information, volume 45, Bank for International Settlements.
    57. Zhandos Ybrayev & Andrey Talakin & Yerlan Kairullayev & Talgat Zharkynbay, 2024. "Household debt service ratio in a developing economy: borrower-based analytical tools and macroprudential policy overview in Kazakhstan," Journal of Banking Regulation, Palgrave Macmillan, vol. 25(1), pages 58-72, March.
    58. Thomas Grjebine & Fabien Tripier, 2016. "Finance and Growth: From the Business Cycle to the Long Run," Working Papers 2016-28, CEPII research center.
    59. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    60. Zhang, Dongyang & Guo, Rui, 2020. "The consumption response to household leverage in China: The role of investment at household level," International Review of Financial Analysis, Elsevier, vol. 71(C).
    61. Mikhail Mamonov, 2023. "Measuring Fraud in Banking and its Impact on the Economy: A Quasi-Natural Experiment," CERGE-EI Working Papers wp755, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    62. Nina Boyarchenko & Giovanni Favara & Moritz Schularick, 2022. "Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges," Finance and Economics Discussion Series 2022-006, Board of Governors of the Federal Reserve System (U.S.).
    63. Uwe Vollmer, 2022. "Monetary policy or macroprudential policies: What can tame the cycles?," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1510-1538, December.
    64. Maria Elisa Farias & David R. Godoy, 2025. "More or Less Openness? The Credit Cycle, Housing, and Policy," Economies, MDPI, vol. 13(7), pages 1-46, July.
    65. Bo Li, 2024. "Household Leverage Cycle Around the Great Recession," Papers 2407.01539, arXiv.org.
    66. Gabriel Jiménez & Dmitry Kuvshinov & José-Luis Peydró & Bjoern Richter, 2022. "Monetary policy, inflation, and crises: New evidence from history and administrative data," Economics Working Papers 1854, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2023.
    67. Mark Gertler & Simon Gilchrist, 2018. "What Happened: Financial Factors in the Great Recession," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 3-30, Summer.
    68. Madalen Castells Jauregui & Björn Richter & Dmitry Kuvshinov & Victoria Vanasco, 2024. "Foreign Demand for Safety and Macroeconomic Instability," Working Papers 1438, Barcelona School of Economics.
    69. Beck, Thorsten & Peltonen, Tuomas & Perotti, Enrico & Sánchez Serrano, Antonio & Suarez, Javier, 2023. "Corporate credit and leverage in the EU: recent evolution, main drivers and financial stability implications," Report of the Advisory Scientific Committee 14, European Systemic Risk Board.
    70. Berrak Bahadir & Dora Gicheva, 2021. "Macroeconomic Implications of Student Debt: A State-Level Analysis," Working Papers 2126, Florida International University, Department of Economics.
    71. Òscar Jordà & Martin Kornejew & Moritz Schularick & Alan M. Taylor, 2020. "Zombies at large? Corporate debt overhang and the macroeconomy," ECONtribute Discussion Papers Series 042, University of Bonn and University of Cologne, Germany.
    72. Valentina Bruno & Hyun Song Shin, 2020. "Currency Depreciation and Emerging Market Corporate Distress," Management Science, INFORMS, vol. 66(5), pages 1935-1961, May.
    73. Valentina Aprigliano & Danilo Liberati, 2021. "Using Credit Variables to Date Business Cycle and to Estimate the Probabilities of Recession in Real Time," Manchester School, University of Manchester, vol. 89(S1), pages 76-96, September.
    74. Mikael Randrup Byrialsen & Hamid Raza, 2022. "Household debt and macroeconomic stability: An empirical stock‐flow consistent model for the Danish economy," Metroeconomica, Wiley Blackwell, vol. 73(1), pages 144-197, February.
    75. Funke, Michael & Kirkby, Robert & Mihaylovski, Petar, 2018. "House prices and macroprudential policy in an estimated DSGE model of New Zealand," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 152-171.
    76. Cengiz Tunc & Mustafa Kilinc, 2023. "Household Debt and Economic Growth: Debt Service Matters," Open Economies Review, Springer, vol. 34(1), pages 71-92, February.
    77. Joseph, Andreas & Kneer, Christiane & van Horen, Neeltje, 2022. "All You Need is Cash: Corporate Cash Holdings and Investment after the Financial Crisis," CEPR Discussion Papers 14199, Centre for Economic Policy Research.
    78. Masashige Hamano & Philip Schnattinger & Mototsugu Shintani & Iichiro Uesugi & Francesco Zanetti, 2025. "Credit Market Tightness and Zombie Firms: Theory and Evidence," Economics Series Working Papers 1065, University of Oxford, Department of Economics.
    79. Atif Mian & Ludwig Straub & Amir Sufi, 2020. "Indebted Demand," CESifo Working Paper Series 8210, CESifo.
    80. Braggion, Fabio & Manconi, Alberto & Zhu, Haikun, 2023. "Household credit and regulatory arbitrage: Evidence from online marketplace lending," Other publications TiSEM 9fbc0f2e-26f5-414f-8384-c, Tilburg University, School of Economics and Management.
    81. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.
    82. Cyril Couaillier & Valerio Scalone, 2020. "How does Financial Vulnerability amplify Housing and Credit Shocks?," Working papers 763, Banque de France.
    83. Siti Aminah Mainal, 2017. "Post Financial Crisis and Macroeconomic Fundamentals on Household Debt in Advanced Economies," GATR Journals jfbr133, Global Academy of Training and Research (GATR) Enterprise.
    84. Palma, J. G., 2019. "Why is inequality so unequal across the world? Part 2 The diversity of inequality in market income - and the increasing asymmetry between the distribution of income before and after taxes and transferences," Cambridge Working Papers in Economics 19100, Faculty of Economics, University of Cambridge.
    85. Atif Mian & Amir Sufi & Emil Verner, 2020. "How Does Credit Supply Expansion Affect the Real Economy? The Productive Capacity and Household Demand Channels," Journal of Finance, American Finance Association, vol. 75(2), pages 949-994, April.
    86. Fabio Braggion & Alberto Manconi & Haikun Zhu, 2023. "Household Credit and Regulatory Arbitrage: Evidence from Online Marketplace Lending," Management Science, INFORMS, vol. 69(10), pages 6271-6292, October.
    87. Yun K. Kim, 2020. "Household Debt Accumulation and the Great Recession of the United States: A Comparative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(1), pages 26-49, March.
    88. Yue Li & Mauro Mastrogiacomo, 2022. "Mortgage prepayments and tax-exempted intergenerational transfers: from rich parents to rich children?," Working Papers 751, DNB.
    89. David Longworth & Frank Milne, 2021. "Parallels Between Financial Regulation Prior to the Global Financial Crisis and Lack of Public Health Preparation Prior to Covid-19," Working Paper 1455, Economics Department, Queen's University.
    90. Robin Döttling & Enrico Perotti, 2020. "Secular Trends and Technological Progress," ECONtribute Discussion Papers Series 006, University of Bonn and University of Cologne, Germany.
    91. Vijverberg, Chu-Ping C., 2024. "Income inequality and household debt: A U.S. state-level spatial analysis," Economic Modelling, Elsevier, vol. 138(C).
    92. Nakajima, Jouchi, 2020. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 186-197.
    93. Davis, Leila & de Souza, Joao & Kim, YK. & Rella, Giacomo, 2023. "What are firms borrowing for? The role of financial assets," Economic Modelling, Elsevier, vol. 125(C).
    94. Pablo Guerrón-Quintana & Alexey Khazanov & Molin Zhong, 2023. "Financial and Macroeconomic Data Through the Lens of a Nonlinear Dynamic Factor Model," Finance and Economics Discussion Series 2023-027, Board of Governors of the Federal Reserve System (U.S.).
    95. Arigoni, Filippo & McCann, Fergal & Yao, Fang, 2022. "Mortgage credit and house prices: evidence to inform macroprudential policy," Financial Stability Notes 11/FS/22, Central Bank of Ireland.
    96. Pablo Pastory y Camarasa & Martien Lamers, 2023. "Do Actions Follow Words? How bank sentiment predicts credit growth," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 23/1073, Ghent University, Faculty of Economics and Business Administration.
    97. Grimm, Maximilian & Schularick, Moritz & Verner, Emil, 2026. "Financial liberalizations, booms, and crashes," Kiel Working Papers 2320, Kiel Institute for the World Economy.
    98. Cronin, David & McQuinn, Kieran, 2021. "Consumption and housing net worth: Cross-country evidence," Economics Letters, Elsevier, vol. 209(C).
    99. James Wood & Engelbert Stockhammer, 2020. "House prices, private debt and the macroeconomics of comparative political economy," Working Papers PKWP2005, Post Keynesian Economics Society (PKES).
    100. Адилханова З. // Adilkhanova Z., 2024. "Влияние жесткости заработных плат на инфляцию в рамках трансмиссионного механизма монетарной политики // Impact of Wage Rigidity on Inflation within the Framework of Monetary Policy Transmission Mechanism," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 45-59.
    101. De Schryder, Selien & Opitz, Frederic, 2021. "Macroprudential policy and its impact on the credit cycle," Journal of Financial Stability, Elsevier, vol. 53(C).
    102. Madalen Castells Jauregui & Dmitry Kuvshinov & Bjoern Richter & Victoria Vanasco, 2024. "Sectoral dynamics of safe assets in advanced economies," Economics Working Papers 1884, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2025.
    103. Antonia Grohmann & Jana Hamdan, 2021. "The Effect of Self-Control and Financial Literacy on Impulse Borrowing: Experimental Evidence," Discussion Papers of DIW Berlin 1950, DIW Berlin, German Institute for Economic Research.
    104. Mathias Drehmann & Mikael Juselius & Sarah Quincy, 2024. "Aggregate debt servicing and the limit on private credit," BIS Working Papers 1235, Bank for International Settlements.
    105. Viral V. Acharya & Lea Borchert & Maximilian Jager & Sascha Steffen, 2023. "Kicking the Can Down the Road: Government Interventions in the European Banking Sector," CRC TR 224 Discussion Paper Series crctr224_2023_446, University of Bonn and University of Mannheim, Germany.
    106. Ekinci, Mehmet Fatih & Omay, Tolga, 2020. "Current account and credit growth: The role of household credit and financial depth," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    107. Karel Mertens & Morten O. Ravn, 2018. "The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply to Jentsch and Lunsford," Working Papers 1805, Federal Reserve Bank of Dallas.
    108. Bahadir, Berrak & Gumus, Inci, 2016. "Credit decomposition and business cycles in emerging market economies," Journal of International Economics, Elsevier, vol. 103(C), pages 250-262.
    109. Park, Donghyun & Shin, Kwanho & Tian, Shu, 2023. "Debts and depth of recessions," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 468-485.
    110. Cronin, David & McQuinn, Kieran, 2021. "Labour market fluctuations and the housing net worth channel in the EU," Papers WP709, Economic and Social Research Institute (ESRI).
    111. Kuang, Pei & Mitra, Kaushik & Tang, Li & Xie, Shihan, 2026. "Macroprudential policy and housing market expectations," European Economic Review, Elsevier, vol. 181(C).
    112. Andreas Fagereng & Magnus A. H. Gulbrandsen & Martin B. Holm & Gisle J. Natvik, 2021. "How does monetary policy affect household indebtedness?," Working Paper 2021/5, Norges Bank.
    113. Marco J. Lombardi & Madhusudan Mohanty & Ilhyock Shim, 2022. "The relationship of household debt and growth in the short and long run," Empirical Economics, Springer, vol. 63(4), pages 1887-1911, October.
    114. Kilinc, Mustafa & Ulussever, Talat, 2024. "Changing landscape of the finance-growth nexus: Industry growth, credit types, and external financial dependence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    115. Viral V. Acharya & Soumya Bhadury & Jay Surti, 2020. "Financial Vulnerability and Risks to Growth in Emerging Markets," NBER Working Papers 27411, National Bureau of Economic Research, Inc.
    116. Martin Iseringhausen, 2024. "The housing supply channel of monetary policy," Working Papers 59, European Stability Mechanism, revised 05 Feb 2024.
    117. David Aikman & Andreas Lehnert & J. Nellie Liang & Michele Modugno, 2016. "Financial Vulnerabilities, Macroeconomic Dynamics, and Monetary Policy," Finance and Economics Discussion Series 2016-055, Board of Governors of the Federal Reserve System (U.S.).
    118. Keiichiro Kobayashi & Daichi Shirai, 2018. "Debt-Ridden Borrowers and Economic Slowdown," CIGS Working Paper Series 18-003E, The Canon Institute for Global Studies.
    119. Shijun Chai & Hao Qi, 2025. "Mobile Payments and Households’ Over-indebtedness: Micro Evidence Based on Subjective and Objective Perspectives," SAGE Open, , vol. 15(4), pages 21582440251, October.
    120. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2023. "Long-term debt propagation and real reversals," BIS Working Papers 1098, Bank for International Settlements.
    121. Lloyd, Simon & Fernández-Gallardo, Álvaro & Manuel, Ed, 2023. "The transmission of macroprudential policy in the tails: evidence from a narrative approach," ESRB Working Paper Series 145, European Systemic Risk Board.
    122. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    123. Yarovaya, Larisa & Brzeszczyński, Janusz & Goodell, John W. & Lucey, Brian & Lau, Chi Keung Marco, 2022. "Rethinking financial contagion: Information transmission mechanism during the COVID-19 pandemic," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
    124. Massimiliano Affinito & Raffaele Santioni & Luca Tomassetti, 2025. "Inside Household Debt: Disentangling Mortgages and Consumer Credit, and Household and Bank Factors. Evidence from Italy," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 11(2), pages 773-814, July.
    125. Giroud, Xavier & Mueller, Holger M., 2021. "Firm leverage and employment dynamics," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1381-1394.
    126. García, Concepción González, 2025. "Fiscal consolidation in heavily indebted economies," Journal of Economic Dynamics and Control, Elsevier, vol. 173(C).
    127. Zhu, Haikun, 2018. "Essays on political economy of finance and fintech," Other publications TiSEM 93f94423-e671-4041-bb24-8, Tilburg University, School of Economics and Management.
    128. Alimov, Behzod, 2019. "Private debt, public debt, and capital misallocation," IWH-CompNet Discussion Papers 7/2019, Halle Institute for Economic Research (IWH).
    129. Christian A. Conrad, 2019. "The Effects on Investment Behavior of Zero Interest Rate Policy¡ªEvidence From a Roulette Experiment," Applied Economics and Finance, Redfame publishing, vol. 6(4), pages 18-27, July.
    130. Funke, Michael & Li, Xiang & Zhong, Doudou, 2023. "Household indebtedness, financial frictions and the transmission of monetary policy to consumption: Evidence from China," Emerging Markets Review, Elsevier, vol. 55(C).
    131. Roberto Marfe & Julien Penasse, 2024. "Measuring Macroeconomic Tail Risk," Carlo Alberto Notebooks 715 JEL Classification: E, Collegio Carlo Alberto.
    132. Can Xu & Jan P. A. M. Jacobs & Jakob de Haan, 2023. "Does Household Borrowing Reduce the Trade Balance? Evidence from Developing and Developed Countries," Open Economies Review, Springer, vol. 34(4), pages 759-787, September.
    133. Kai Dong & Ching-Ter Chang & Shaonan Wang & Xiaoxi Liu, 2021. "The Dynamic Correlation among Financial Leverage, House Price, and Consumer Expenditure in China," Sustainability, MDPI, vol. 13(5), pages 1-18, March.
    134. Luca Barbaglia & Sebastiano Manzan & Elisa Tosetti, 2023. "Forecasting Loan Default in Europe with Machine Learning," Journal of Financial Econometrics, Oxford University Press, vol. 21(2), pages 569-596.
    135. Manconi, Alberto & Braggion, Fabio & Zhu, Haikun, 2018. "Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China," CEPR Discussion Papers 12668, Centre for Economic Policy Research.
    136. Manuel Adelino & W. Ben McCartney & Antoinette Schoar, 2020. "The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market," Working Papers 20-40, Federal Reserve Bank of Philadelphia.
    137. Vincenzo Cuciniello & Nicola Di Iasio, 2025. "Determinants of the Credit Cycle: A Flow Analysis of the Extensive Margin," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(5), pages 1275-1298, August.
    138. Nina Boyarchenko & Richard K. Crump & Keshav Dogra & Leonardo Elias & Ignacio Lopez Gaffney, 2024. "The Nonlinear Case Against Leaning Against the Wind," Staff Reports 1100, Federal Reserve Bank of New York.
    139. Francesco D'Acunto & Thomas Rauter & Christoph Scheuch & Michael Weber & Michael Weber, 2020. "Perceived Precautionary Savings Motives: Evidence from FinTech," CESifo Working Paper Series 8123, CESifo.
    140. Martin Gachter & Elias Hasler & Florian Huber, 2023. "A tale of two tails: 130 years of growth-at-risk," Papers 2302.08920, arXiv.org.
    141. Darmouni, Olivier & Geisecke, Oliver & Rodnyanky, Alexander, 2019. "The Bond Lending Channel of Monetary Policy," MPRA Paper 95141, University Library of Munich, Germany.
    142. Bielskis, Karolis & Lastauskas, Povilas, 2024. "The role of housing market and credit on household consumption dynamics: Evidence from the OECD countries," Journal of Economic Behavior & Organization, Elsevier, vol. 228(C).
    143. Acharya, Viral & Bergant, Katharina & Crosignani, Matteo & Eisert, Tim & McCann, Fergal, 2020. "The Anatomy of the Transmission of Macroprudential Policies," CEPR Discussion Papers 14959, Centre for Economic Policy Research.
    144. Toni Ahnert & Enrico Perotti, 2018. "Seeking Safety," Staff Working Papers 18-41, Bank of Canada.
    145. Gomes, João F. & Grotteria, Marco & Wachter, Jessica A., 2023. "Foreseen risks," Journal of Economic Theory, Elsevier, vol. 212(C).
    146. Bruno Albuquerque, 2019. "One Size Fits All? Monetary Policy and Asymmetric Household Debt Cycles in U.S. States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(5), pages 1309-1353, August.
    147. Carolin Pflueger & Emil Siriwardane & Adi Sunderam, 2019. "Financial Market Risk Perceptions and the Macroeconomy," NBER Working Papers 26290, National Bureau of Economic Research, Inc.
    148. David Finck & Paul Rudel, 2020. "Do Credit Supply Shocks Have Asymmetric Effects?," MAGKS Papers on Economics 202026, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    149. Ben-Rephael, Azi & Choi, Jaewon & Goldstein, Itay, 2021. "Mutual fund flows and fluctuations in credit and business cycles," Journal of Financial Economics, Elsevier, vol. 139(1), pages 84-108.
    150. Sangyup Choi & Kimoon Jeong & Jiseob Kim, 2023. "One Monetary Policy and Two Bank Lending Standards: A Tale of Two Europes," Working papers 2023rwp-209, Yonsei University, Yonsei Economics Research Institute.
    151. Mattia Guerini & Alessio Moneta & Mauro Napoletano & Andrea Roventini, 2017. "The Janus-faced nature of debt : results form a data driven cointegrated SVAR approach," Working Papers hal-03457555, HAL.
    152. Sim, Seung-Gyu & Lee, Saiah, 2020. "The cyclical behavior of household and corporate credit in emerging economies," Emerging Markets Review, Elsevier, vol. 45(C).
    153. Batini, Nicoletta & Melina, Giovanni & Villa, Stefania, 2019. "Fiscal buffers, private debt, and recession: The good, the bad and the ugly," Journal of Macroeconomics, Elsevier, vol. 62(C).
    154. Martin Kornejew & Chen Lian & Yueran Ma & Pablo Ottonello & Diego J. Perez, 2024. "Bankruptcy Resolution and Credit Cycles," NBER Chapters, in: NBER Macroeconomics Annual 2024, volume 39, pages 1-39, National Bureau of Economic Research, Inc.
    155. Andrew Filardo & Paul Hubert & Phurichai Rungcharoenkitkul Author-X-Name_First: Phurichai, 2019. "The reaction function channel of monetary policy and the financial cycle," BIS Working Papers 816, Bank for International Settlements.
    156. Sangyup Choi & Junhyeok Shin, 2020. "Household Indebtedness and the Macroeconomic Effects of Tax Changes," Working papers 2020rwp-178, Yonsei University, Yonsei Economics Research Institute.
    157. Wang, Ruohan & Xue, Yi & Zheng, Wenping, 2021. "Does high external debt predict lower economic growth? Role of sovereign spreads and institutional quality," Economic Modelling, Elsevier, vol. 103(C).
    158. Bezemer, Dirk & Samarina, Anna & Zhang, Lu, 2020. "Does mortgage lending impact business credit? Evidence from a new disaggregated bank credit data set," Journal of Banking & Finance, Elsevier, vol. 113(C).
    159. Knut Are Aastveit & Ragnar Enger Juelsrud & Ella Getz Wold, 2023. "The leverage-liquidity trade-of mortgage regulation," Working Papers 04/2023, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    160. Dieckelmann, Daniel, 2021. "Market sentiment, financial fragility, and economic activity: The role of corporate securities issuance," Discussion Papers 2021/6, Free University Berlin, School of Business & Economics.
    161. Grohmann, Antonia & Menkhoff, Lukas & Merkle, Christoph & Schmacker, Renke, 2025. "Earn More Tomorrow: Overconfidence, Income Expectations, and Consumer Indebtedness," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 57(5), pages 1071-1102.
    162. Manuel A. Muñoz & Frank Smets, 2025. "The positive neutral countercyclical capital buffer," Bank of England working papers 1128, Bank of England.
    163. Gross, Marco, 2022. "Beautiful cycles: A theory and a model implying a curious role for interest," Economic Modelling, Elsevier, vol. 106(C).
    164. Maximilian Boeck & Thomas O. Zörner, 2024. "The Impact of Credit Market Sentiment Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(7), pages 1645-1673, October.
    165. Adelino, Manuel & Schoar, Antoinette & Severino, Felipe, 2025. "Credit supply and house prices: Evidence from mortgage market segmentation," Journal of Financial Economics, Elsevier, vol. 163(C).
    166. Magnus A. H. Gulbrandsen, 2021. "Peer effects and debt accumulation: Evidence from lottery winnings," Working Paper 2021/10, Norges Bank.
    167. Filardo, Andrew & Hubert, Paul & Rungcharoenkitkul, Phurichai, 2022. "Monetary policy reaction function and the financial cycle," Journal of Banking & Finance, Elsevier, vol. 142(C).
    168. Castells-Jauregui, Madalen & Kuvshinov, Dmitry & Richter, Björn & Vanasco, Victoria, 2025. "Foreign demand for safety and macroeconomic instability," Working Paper Series 3126, European Central Bank.
    169. Knut Are Aastveit & Ragnar Enger Juelsrud & Ella Getz Wold, 2021. "The household effects of mortgage regulation," Working Papers No 07/2021, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    170. Herwartz, Helmut & Ochsner, Christian & Rohloff, Hannes, 2026. "How do credit supply conditions transmit across the globe?," Journal of International Money and Finance, Elsevier, vol. 161(C).
    171. Emmanuel Carré & Guillaume L’Œillet, 2017. "Une revue de la littérature récente sur le nexus finance-croissance après la crise : apports, limites et pistes de recherche," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 271-290.
    172. José Daniel Aromí, 2021. "Large Current Account Deficits and Neglected Vulnerabilities," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(4), pages 597-623, December.
    173. Giacomo Rella, 2021. "The Fed, housing and household debt over time," Department of Economics University of Siena 850, Department of Economics, University of Siena.
    174. Baron, Matthew & Laeven, Luc & Pénasse, Julien & Usenko, Yevhenii, 2021. "Investing in crises," Working Paper Series 2548, European Central Bank.
    175. David López-Salido & Jeremy C. Stein & Egon Zakrajšek, 2016. "Credit-Market Sentiment and the Business Cycle," NBER Working Papers 21879, National Bureau of Economic Research, Inc.
    176. Adrian, Tobias & Liang, Nellie & Grinberg, Federico & Malik, Sheherya, 2018. "The Term Structure of Growth-at-Risk," CEPR Discussion Papers 13349, Centre for Economic Policy Research.
    177. Chen, Xin & Qin, Yaohua & Xiao, He & Zhang, Yifei, 2019. "Microfinancing and Home-purchase Restrictions: Evidence from the Online “Peer-to-Peer” Lending in China," MPRA Paper 95375, University Library of Munich, Germany.
    178. Jasmien De Winne & Gert Peersman, 2019. "The Impact of Food Prices on Conflict Revisited," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 19/979, Ghent University, Faculty of Economics and Business Administration.
    179. Wang, Xiaoting & Hou, Siyuan & Kyaw, Khine & Xue, Xupeng & Liu, Xueqin, 2023. "Exploring the determinants of Fintech Credit: A comprehensive analysis," Economic Modelling, Elsevier, vol. 126(C).
    180. McIndoe-Calder, Tara, 2024. "Administrative meets survey data: measuring household indebtedness in Ireland," Research Technical Papers 2/RT/24, Central Bank of Ireland.
    181. Yunchao Cai & Selamah Abdullah Yusof & Ruzita Bt Mohd Amin & Mohd Nahar Mohd Arshad, 2021. "The Multi-dimensional Effect of Household Debt on Urban Individual Well-Being in Klang Valley Malaysia," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 158(1), pages 23-44, November.
    182. Yuan, Gecheng & Lu, Weijie & Wu, Xinyi & Zhou, Li, 2025. "The gig economy and household financial vulnerability," China Economic Review, Elsevier, vol. 94(PB).
    183. Christopher Hansman & Harrison Hong & Wenxi Jiang & Yu-Jane Liu & Juan-Juan Meng, 2018. "Effects of Credit Expansions on Stock Market Booms and Busts," NBER Working Papers 24586, National Bureau of Economic Research, Inc.
    184. Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2016. "Diagnostic Expectations and Credit Cycles," NBER Working Papers 22266, National Bureau of Economic Research, Inc.
    185. Massenot, Baptiste, 2020. "Credit cycles: Experimental evidence," SAFE Working Paper Series 104 [rev.], Leibniz Institute for Financial Research SAFE, revised 2020.
    186. Yang, Hu & Chen, Yu & Chen, Kedong & Wang, Haijun, 2024. "Temporal-spatial dependencies enhanced deep learning model for time series forecast," International Review of Financial Analysis, Elsevier, vol. 94(C).
    187. Engelbert Stockhammer & Giorgos Gouzoulis & Rob Calvert Jump, 2019. "Debt-driven business cycles in historical perspective: The cases of the USA (1889-2015) and UK (1882-2010)," Working Papers PKWP1907, Post Keynesian Economics Society (PKES).
    188. Drechsel-Grau, Moritz & Greimel, Fabian, 2018. "Falling Behind: Has Rising Inequality Fueled the American Debt Boom?," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181585, Verein für Socialpolitik / German Economic Association.
    189. Hodula, Martin & Pfeifer, Lukáš & Janků, Jan, 2022. "The effect of structural risks on financial downturns," ESRB Working Paper Series 138, European Systemic Risk Board.
    190. Behr,Daniela Monika & Chen,Lixue & Goel,Ankita & Haider,Khondoker Tanveer & Sandeep Singh & Zaman,Asad, 2023. "Estimating House Prices in Emerging Markets and Developing Economies : A Big Data Approach," Policy Research Working Paper Series 10301, The World Bank.
    191. Michael Gurkov & Osnat Zohar, 2022. "Growth at Risk: Forecast Distribution of GDP Growth in Israel," Bank of Israel Working Papers 2022.08, Bank of Israel.
    192. David Cronin & Kieran McQuinn, 2023. "Household Consumption and the Housing Net Worth Channel in Ireland," The Economic and Social Review, Economic and Social Studies, vol. 54(2), pages 125-147.
    193. Blickle, Kristian, 2022. "Local banks, credit supply, and house prices," Journal of Financial Economics, Elsevier, vol. 143(2), pages 876-896.
    194. Brandão-Marques, Luis & Chen, Qianying & Raddatz, Claudio & Vandenbussche, Jérôme & Xie, Peichu, 2022. "The riskiness of credit allocation and financial stability," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    195. Can Xu & Andreas Steiner & Jakob Haan, 2025. "Does uncertainty matter for private credit convergence?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 161(3), pages 1071-1112, August.
    196. Wadud, Mokhtarul & Ali Ahmed, Huson Joher & Tang, Xueli, 2020. "Factors affecting delinquency of household credit in the U.S.: Does consumer sentiment play a role?," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    197. Mueller, Holger & Giroud, Xavier, 2018. "Firm Leverage and Regional Business Cycles," CEPR Discussion Papers 13355, Centre for Economic Policy Research.
    198. Xuejun Jin & Xue Zhou & Xiaolan Yang, 2022. "How does economic policy uncertainty affect the relationship between household debt and consumption?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(5), pages 4783-4806, December.
    199. Bronson Argyle & Taylor Nadauld & Christopher Palmer & Ryan Pratt, 2021. "The Capitalization of Consumer Financing into Durable Goods Prices," Journal of Finance, American Finance Association, vol. 76(1), pages 169-210, February.
    200. Azmat, Saad & Ayub, Ahmad & Brown, Kym & Skully, Michael, 2020. "The inequality debate: Do financial markets matter?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
    201. Sjoerd Van Bekkum & Marc Gabarro & Rustom M. Irani & José-Luis Peydró, 2019. "Take It to the limit? The effects of household leverage caps," Economics Working Papers 1682, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2022.
    202. Filippo Gusella & Engelbert Stockhammer, 2021. "Testing fundamentalist–momentum trader financial cycles: An empirical analysis via the Kalman filter," Metroeconomica, Wiley Blackwell, vol. 72(4), pages 758-797, November.
    203. Dancho Petrov & Evgeniya Tonkova & Svetlana Todorova, 2020. "Structural and Value Dimensions of Household Indebtedness in Bulgaria," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 9(1), pages 17-25, April.
    204. Simona Malovaná & Josef Bajzík & Dominika Ehrenbergerová & Jan Janků, 2023. "A prolonged period of low interest rates in Europe: Unintended consequences," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 526-572, April.
    205. Tomohiro Hirano & Joseph E. Stiglitz, 2025. "Growth and Fluctuations Economies with Land Speculation," CIGS Working Paper Series 25-012E, The Canon Institute for Global Studies.
    206. Stefano Neri & Giuseppe Ferrero & Marco Gross, 2017. "On secular stagnation and low interest rates: demography matters," Temi di discussione (Economic working papers) 1137, Bank of Italy, Economic Research and International Relations Area.
    207. Woo‐Hyung Hong & Wongi Kim, 2024. "The effects of weather shock on income inequality: evidence from Asia‐Pacific Economic Cooperation (APEC) member economies," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 38(2), pages 75-101, November.
    208. Pan, Wei-Fong, 2023. "Household debt in the times of populism," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 202-215.
    209. Ажгалиева Д. // Azhgaliyeva D. & Капсалямова З. // Kapsalyamova Z., 2024. "Государственная поддержка в продвижении зеленых облигаций в Азии: эмпирические данные // Policy support in promoting green bonds in Asia: empirical evidence," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 63-64.
    210. Massimo Coletta & Riccardo De Bonis & Stefano Piermattei, 2019. "Household Debt in OECD Countries: The Role of Supply-Side and Demand-Side Factors," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 143(3), pages 1185-1217, June.
    211. Atif R. Mian & Ludwig Straub & Amir Sufi, 2020. "The Saving Glut of the Rich," NBER Working Papers 26941, National Bureau of Economic Research, Inc.
    212. Sonia Gilbukh & Andrew Haughwout & Rebecca J. Landau & Joseph Tracy, 2023. "The price‐to‐rent ratio: A macroprudential application," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(2), pages 503-532, March.
    213. Predelus, Wilner & Amine, Samir, 2020. "How employment insurance recipients make decision about insolvency?," Research in Economics, Elsevier, vol. 74(4), pages 344-348.
    214. Mircea Epure & Irina Mihai & Camelia Minoiu & José-Luis Peydró, 2024. "Global Financial Cycle, Household Credit, and Macroprudential Policies," Management Science, INFORMS, vol. 70(11), pages 8096-8115, November.
    215. Jean-Charles Bricongne & Leonor Coutinho & Alessandro Turrini & Stefan Zeugner, 2020. "Is Private Debt Excessive?," Open Economies Review, Springer, vol. 31(2), pages 471-512, April.
    216. Simona Malovana & Josef Bajzik & Dominika Ehrenbergerova & Jan Janku, 2020. "A Prolonged Period of Low Interest Rates: Unintended Consequences," Research and Policy Notes 2020/02, Czech National Bank, Research and Statistics Department.
    217. Guerrieri, V. & Uhlig, H., 2016. "Housing and Credit Markets," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1427-1496, Elsevier.
    218. David Finck & Paul Rudel, 2023. "Do credit supply shocks have asymmetric effects?," Empirical Economics, Springer, vol. 64(4), pages 1559-1597, April.
    219. Guo Xie & Kai Li, 2023. "Does resident leverage volatility affect corporate profitability?: An empirical study from Chinese A‐share listed companies," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(3), pages 1656-1668, April.
    220. Mathias Klein, 2017. "Austerity and Private Debt," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(7), pages 1555-1585, October.
    221. Andrea Ajello & Thomas Laubach & J. David López-Salido & Taisuke Nakata, 2016. "Financial Stability and Optimal Interest-Rate Policy," Finance and Economics Discussion Series 2016-067, Board of Governors of the Federal Reserve System (U.S.).
    222. Hristov, Nikolay & Roth, Markus, 2022. "Uncertainty shocks and systemic-risk indicators," Journal of International Money and Finance, Elsevier, vol. 122(C).
    223. John Muellbauer, 2019. "A Tale of Two Cities: is Overvaluation a Capital Issue?," Economics Series Working Papers 872, University of Oxford, Department of Economics.
    224. Xiaoqing Fu & Matthew C. Li & Philip Molyneux, 2021. "Credit default swap spreads: market conditions, firm performance, and the impact of the 2007–2009 financial crisis," Empirical Economics, Springer, vol. 60(5), pages 2203-2225, May.
    225. Berrak Bahadir & Neven Valev, 2023. "Global Liquidity and Household Credit Growth," Open Economies Review, Springer, vol. 34(5), pages 1039-1061, November.
    226. Moramarco, Graziano, 2024. "Financial-cycle ratios and medium-term predictions of GDP: Evidence from the United States," International Journal of Forecasting, Elsevier, vol. 40(2), pages 777-795.
    227. Qiankun Meng & Yupei Liu & Wei’an Li & Mingshan Yu, 2023. "Bonding or Indulgence? The Role of Overborrowing on Firms’ Innovation: Evidence from China," Sustainability, MDPI, vol. 15(2), pages 1-23, January.
    228. Paravee Maneejuk & Sopanid Teerachai & Atinuch Ratchakit & Woraphon Yamaka, 2021. "Analysis of Difference in Household Debt across Regions of Thailand," Sustainability, MDPI, vol. 13(21), pages 1-24, November.
    229. Giordano, Claire & Marinucci, Marco & Silvestrini, Andrea, 2019. "The macro determinants of firms' and households' investment: Evidence from Italy," Economic Modelling, Elsevier, vol. 78(C), pages 118-133.
    230. Bashir Ahmad Joo & Simtiha Ishaq Mir, 2024. "Evolution of the Household Debt Narrative: A PRISMA-compliant Systematic Literature Review," Paradigm, , vol. 28(1), pages 84-100, June.
    231. Ms. Elena Loukoianova & Yu Ching Wong & Ioana Hussiada, 2019. "Household Debt, Consumption, and Monetary Policy in Australia," IMF Working Papers 2019/076, International Monetary Fund.
    232. Kirti, Divya, 2025. "Lending standards and output growth," Journal of Financial Stability, Elsevier, vol. 76(C).
    233. Kenneth S. Rogoff & Yuanchen Yang, 2020. "Peak China Housing," NBER Working Papers 27697, National Bureau of Economic Research, Inc.
    234. Mikael Juselius & Anton Korinek & Mathias Drehmann, 2017. "Debt Service: The Painful Legacy of Credit Booms," 2017 Meeting Papers 1258, Society for Economic Dynamics.
    235. Indrani Manna & Martin Suster & Biswajit Banerjee, 2022. "House Price Expectations, Household Indebtedness and Macroprudential Policy in Slovakia," Working and Discussion Papers WP 5/2022, Research Department, National Bank of Slovakia.
    236. Claudio Borio, 2017. "Secular stagnation or financial cycle drag?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(2), pages 87-98, April.
    237. Еселева-Пионка М. // Yesseleva-Pionka М. & Кенжегаранова М. // Kenzhegaranova М. & Азимбекова А. // Azimbekova А. & Кусниева А. // Kusniyeva А. & Байбекова А. // Baibekova А., 2024. "Противодействие финансовым мошенничествам, в частности пирамидам, интернет и телефонным мошенничествам // Combating Fnancial Fraud, in Particular Pyramid, Internet and Telephone Fraud," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 86-89.
    238. Marzinotto, Benedicta, 2022. "Euro area current account imbalances: A tale of two financial liberalizations," Journal of International Money and Finance, Elsevier, vol. 120(C).
    239. Braun, Matías & Marcet, Francisco & Raddatz, Claudio, 2024. "The good, the bad, and the not-so-ugly of credit booms?: capital allocation and financial constraints," Journal of Banking & Finance, Elsevier, vol. 161(C).
    240. Jung Sakong, 2026. "Who Buys High and Sells Low: Trading against Expected Returns and Wealth Inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 61, August.
    241. Абилов Н. // Abilov N., 2024. "Риск действительно имеет значение: шоки неопределенности в условиях малой экономики страны – экспортера нефти // Risk indeed matters: uncertainty shocks in a small oil-exporting economy," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 7-23.
    242. Josh Davis & Alan M. Taylor, 2019. "The Leverage Factor: Credit Cycles and Asset Returns," NBER Working Papers 26435, National Bureau of Economic Research, Inc.
    243. Martin Hodula & Simona Malovana & Lukas Pfeifer, 2026. "When Monetary and Macroprudential Policies Tighten Together: Evidence from the Czech Mortgage Market," Working Papers 2026/02, Czech National Bank, Research and Statistics Department.
    244. Daisy J. Pacheco-Bernal & Santiago D. Segovia-Baquero & Ana M. Yaruro-Jaime, 2017. "Vulnerabilidades financieras de los hogares en Colombia," Borradores de Economia 1026, Banco de la Republica de Colombia.
    245. Jonathan Bridges & Christopher Jackson & Daisy McGregor, 2017. "Down in the slumps: the role of credit in five decades of recessions," Bank of England working papers 659, Bank of England.
    246. Azizjon Alimov, 2021. "The Impact of Government Borrowing on Corporate Acquisitions: International Evidence," Working Papers 2021-ACF-04, IESEG School of Management, revised Mar 2023.
    247. Akıncı, Özge & Chahrour, Ryan, 2018. "Good news is bad news: Leverage cycles and sudden stops," Journal of International Economics, Elsevier, vol. 114(C), pages 362-375.
    248. Perotti, Enrico & Döttling, Robin, 2019. "Redistributive Growth," CEPR Discussion Papers 13984, Centre for Economic Policy Research.
    249. Yi, Xingjian & Liu, Sheng & Wu, Zhouheng, 2022. "What drives credit expansion worldwide?——An empirical investigation with long-term cross-country panel data," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 225-242.
    250. Konrad Adler & Frederic Boissay, 2020. "Dealing with bank distress: Insights from a comprehensive database," BIS Working Papers 909, Bank for International Settlements.
    251. Herwartz, Helmut & Rohloff, Hannes & Wang, Shu, 2020. "Proxy SVAR identification of monetary policy shocks: MonteCarlo evidence and insights for the US," University of Göttingen Working Papers in Economics 404, University of Goettingen, Department of Economics.
    252. Paul Rudel, 2024. "Loan Supply Shocks, Prudential Regulation, and the Business Cycle," MAGKS Papers on Economics 202409, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    253. Yun Jung Kim & Jing Zhang, 2020. "The Relationship between Debt and Output," Working Paper Series WP-2020-30, Federal Reserve Bank of Chicago.
    254. Bahadir, Berrak & Valev, Neven, 2017. "Catching up or drifting apart: Convergence of household and business credit in Europe," International Review of Economics & Finance, Elsevier, vol. 47(C), pages 101-114.
    255. Damane, Moeti, 2024. "Quantile Regression Analysis of the Economic Impact of Business and Household Credit in Lesotho," MPRA Paper 121954, University Library of Munich, Germany.
    256. Lim, Jamus Jerome, 2019. "Growth in the shadow of debt," Journal of Banking & Finance, Elsevier, vol. 103(C), pages 98-112.
    257. Unger, Robert, 2018. "Revisiting the finance and growth nexus: A deeper look at sectors and instruments," Discussion Papers 55/2018, Deutsche Bundesbank.
    258. Rossi, Stefano & Gulen, Huseyin & Ion, Mihai, 2019. "Credit Cycles, Expectations, and Corporate Investment," CEPR Discussion Papers 13679, Centre for Economic Policy Research.
    259. Roman Kozlov, 2023. "The Effect of Interest Rate Changes on Consumption: An Age-Structured Approach," Economies, MDPI, vol. 11(1), pages 1-25, January.
    260. Atif Mian & Amir Sufi, 2016. "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt," NBER Working Papers 22256, National Bureau of Economic Research, Inc.
    261. Mate Rosan & Krunoslav Zauder, 2020. "Which Loans do We Take? A Micro-Level Analysis of Croatian Households’ Debt Participation," Working Papers 61, The Croatian National Bank, Croatia.
    262. Sapci, Ayse & Vu, Nam, 2017. "Housing Wealth Reallocation Between Subprime and Prime Borrowers During Recessions," Working Papers 2017-03, Department of Economics, Colgate University, revised 19 Sep 2017.
    263. Sakuragawa, Masaya & Tobe, Satoshi & Zhou, Mengyuan, 2021. "Chinese housing market and bank credit," Journal of Asian Economics, Elsevier, vol. 76(C).
    264. Alfred Duncan & Charles Nolan, 2015. "Objectives and Challenges of Macroprudential Policy," Working Papers 2015_22, Business School - Economics, University of Glasgow.
    265. Xiangfa Li & Zhe Zhang & Weixian Xue & Hua Wang, 2022. "The Effects of Household Debt and Oil Price Shocks on Economic Growth in the Shadow of the Pandemic," Sustainability, MDPI, vol. 14(22), pages 1-16, November.
    266. Mikhail Mamonov & Anna Pestova, 2021. "Credit Supply Shocks and Household Defaults," CERGE-EI Working Papers wp691, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    267. Nicholas Apergis & Sayantan Ghosh Dastidar, 2022. "The determinants of aggregate fluctuations: The role of firm‐borrowing channels," Manchester School, University of Manchester, vol. 90(1), pages 20-34, January.
    268. Lara Coulier & Selien De Schryder & Milan van den Heuvel & Tobias Verlaeckt, 2026. "Pushing the Limit: How Borrowers Tackle an LTV Cap," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 26/1138, Ghent University, Faculty of Economics and Business Administration.
    269. Яндиев М. // Yandiyev М., 2024. "Феномен недооценки при первичном размещении акций объясняется алчностью финансовых спекулянтов // The Phenomenon of Underpricing during Initial Public Offering is Explained by the Greed of Financial Speculators," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 65-85.
    270. Aida Caldera Sánchez & Filippo Gori, 2016. "Can Reforms Promoting Growth Increase Financial Fragility?: An Empirical Assessment," OECD Economics Department Working Papers 1340, OECD Publishing.
    271. Yu, Wenbo, 2024. "Consumption, exchange rate, and external adjustment during a crisis," Journal of International Economics, Elsevier, vol. 151(C).
    272. Abd Samad, Khairunnisa & Mohd Daud, Siti Nurazira & Mohd Dali, Nuradli Ridzwan Shah, 2020. "Early Warning Indicators for Systemic Banking Crises: Household Debt and Property Prices," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 54(1), pages 121-134.
    273. Mircea Epure & Irina Mihai & Ms. Camelia Minoiu & José-Luis Peydró, 2018. "Household Credit, Global Financial Cycle, and Macroprudential Policies: Credit Register Evidence from an Emerging Country," IMF Working Papers 2018/013, International Monetary Fund.
    274. Varadi, Alexandra, 2024. "Identifying the transmission channels of credit supply shocks to household debt: Price and non-price effects," European Economic Review, Elsevier, vol. 166(C).
    275. Azad, A.S.M.S. & Azmat, Saad & Chazi, Abdelaziz & Ahsan, Amirul, 2018. "Sailing with the non-conventional stocks when there is no place to hide," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 57(C), pages 1-16.
    276. Bahadir, Berrak & Gumus, Inci & Tatar Taspinar, Zeren, 2025. "House prices and sectoral output: A cross-country analysis," Economics Letters, Elsevier, vol. 248(C).
    277. Luca Moller, 2026. "A composite indicator of systemic risk related to the Italian financial cycle," Questioni di Economia e Finanza (Occasional Papers) 1007, Bank of Italy, Economic Research and International Relations Area.
    278. Michael Smolyansky & Gustavo A. Suarez, 2021. "Non-monetary news in Fed announcements: Evidence from the corporate bond market," Finance and Economics Discussion Series 2021-010r1, Board of Governors of the Federal Reserve System (U.S.), revised 31 Jan 2025.
    279. Albuquerque, Bruno & Cerutti, Eugenio & Kido, Yosuke & Varghese, Richard, 2026. "Not all housing cycles are created equal: Macroeconomic consequences of housing booms," Journal of International Money and Finance, Elsevier, vol. 161(C).
    280. Blickle, Kristian & Santos, João A.C., 2024. "The costs of corporate debt overhang," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    281. Cañizares Martínez, Carlos, 2025. "Dating housing booms fueled by credit: A Markov switching approach," Journal of Financial Stability, Elsevier, vol. 78(C).
    282. V. A. Pankova, 2022. "Modeling the Dynamics of Retail Lending in Russia: a Relationship with the Dynamics of Household Savings, Incomes, and Expenses," Studies on Russian Economic Development, Springer, vol. 33(6), pages 723-735, December.
    283. Berrak Bahadir & Neven Valev, 2021. "Credit information sharing and the shift in bank lending towards households," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 60-72, January.
    284. Wang, Bo & Xiao, Yang, 2023. "The term effect of financial cycle variables on GDP growth," Journal of International Money and Finance, Elsevier, vol. 139(C).
    285. Juniours Marire, 2024. "Interactive influence of house prices and the repo rate on household debt in South Africa," Journal of Economic Analysis, Anser Press, vol. 3(1), pages 58-78, March.
    286. Norman Loayza & Amine Ouazad & Romain Rancière, 2018. "Financial Development, Growth, and Crisis: Is There a Trade-Off?," NBER Working Papers 24474, National Bureau of Economic Research, Inc.
    287. Maximilian Grimm, 2024. "The Effect of Monetary Policy on Systemic Bank Funding Stability," ECONtribute Discussion Papers Series 341, University of Bonn and University of Cologne, Germany.
    288. Nyholm, Juho & Voutilainen, Ville, 2021. "Quantiles of growth: Household debt and growth vulnerabilities in Finland," BoF Economics Review 2/2021, Bank of Finland.
    289. Randal K. Quarles, 2019. "Monetary Policy and Financial Stability : a speech at \"Developments in Empirical Macroeconomics,\" a research conference sponsored by the Federal Reserve Board and the Federal Reserve Bank of New York, Washington, D.C., May 30, 2019," Speech 1068, Board of Governors of the Federal Reserve System (U.S.).
    290. Özer Karagedikli & Anella Munro, 2018. "Interview with Atif Mian, Princeton University," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 81, pages 1-19, March.
    291. Berrak Bahadir & Neven Valev, 2020. "Institutions, Household Credit Composition, And The Business Cycle," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1401-1413, July.
    292. Fadoua Joudar & Omar El Ghmari, 2025. "The Impact of Financial Inclusion on Financial Stability: Evidence from MENA and African Countries Analyzed Using Hierarchical Multiple Regression," Economies, MDPI, vol. 13(5), pages 1-20, April.
    293. Bo Li, 2024. "Testing Business Cycle Theories: Evidence from the Great Recession," Papers 2403.04104, arXiv.org.
    294. Cheol Eun & Lingling Wang & Tim Zhang, 2022. "House Price Growth Synchronization and Business Cycle Alignment," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 675-710, November.
    295. Acharya, Viral & Steffen, Sascha & Steinruecke, Lea & Jager, Maximilian, 2020. "Kicking the can down the road: government interventions in the European banking sector," CEPR Discussion Papers 15009, Centre for Economic Policy Research.
    296. Konstantina Manou & Panagiotis Palaios & Evangelia Papapetrou, 2019. "Housing wealth, household debt and financial assets: are there implications for consumption?," Working Papers 263, Bank of Greece.
    297. Keiichiro KOBAYASHI & Daichi SHIRAI, 2024. "Debt-Ridden Borrowers and Persistent Stagnation," CIGS Working Paper Series 23-001E, The Canon Institute for Global Studies.
    298. Matthew Baron & Emil Verner & Wei Xiong, 2020. "Banking Crises without Panics," NBER Working Papers 26908, National Bureau of Economic Research, Inc.
    299. Atif Mian & Ludwig Straub & Amir Sufi, 2020. "The Saving Glut of the Rich and the Rise in Household Debt," CESifo Working Paper Series 8201, CESifo.
    300. Fengqin Freya Chen & Walid Saffar & Longfei Shang, 2025. "Local Agglomeration and Household Mortgage Debt," Management Science, INFORMS, vol. 71(6), pages 5001-5021, June.
    301. Yeo Joon Yoon & Wongi Kim, 2022. "Dynamic analysis of antidumping using impulse responses: a case between the United States and China," Empirical Economics, Springer, vol. 63(2), pages 671-694, August.
    302. Pedrosa, Ítalo & Brochier, Lídia & Freitas, Fabio, 2023. "Debt hierarchy: Autonomous demand composition, growth and indebtedness in a Supermultiplier model," Economic Modelling, Elsevier, vol. 126(C).
    303. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "La política monetaria cercada por un movimiento de pinzas," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(2), pages 004-044, August.
    304. Jiseob Kim, 2016. "Why household debt held by Korean seniors is problematic: An international comparison," Economics Bulletin, AccessEcon, vol. 36(4), pages 2080-2093.
    305. Carvalho, Daniel & Gao, Janet & Ma, Pengfei, 2023. "Loan spreads and credit cycles: The role of lenders’ personal economic experiences," Journal of Financial Economics, Elsevier, vol. 148(2), pages 118-149.
    306. Gary Gorton & Ping He, 2023. "Optimal monetary policy in a collateralized economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(1), pages 55-89, January.
    307. Borio, Claudio & Drehmann, Mathias & Xia, Fan Dora, 2020. "Forecasting recessions: the importance of the financial cycle," Journal of Macroeconomics, Elsevier, vol. 66(C).
    308. Claes Bäckman & Peter van Santen, 2020. "The Amortization Elasticity of Mortgage Demand," Economics Working Papers 2020-16, Department of Economics and Business Economics, Aarhus University.
    309. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2017. "Accounting for debt service: the painful legacy of credit booms," BIS Working Papers 645, Bank for International Settlements.
    310. François Geerolf & Thomas Grjebine, 2018. "Property Tax Shocks and Macroeconomics," Working Papers 2018-03, CEPII research center.
    311. Giannetti, Mariassunta & Jang, Yeejin, 2021. "Who Lends Before Banking Crises? Evidence from the International Syndicated Loan Market," CEPR Discussion Papers 15737, Centre for Economic Policy Research.
    312. Chiara Mussida & Dario Sciulli, 2025. "A Dynamic Analysis of Arrears and Income Poverty in Italy," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 11(2), pages 725-743, July.
    313. Andersen, Henrik Yde, 2021. "Pension taxation, household debt and the real economy," Nationaløkonomisk tidsskrift, Nationaløkonomisk Forening, vol. 2021(1), pages 1-14.
    314. Nina Boyarchenko & Leonardo Elias, 2024. "The Global Credit Cycle," Staff Reports 1094, Federal Reserve Bank of New York.
    315. Martin Hodula & Jan Janku & Lukas Pfeifer, 2021. "Interaction of Cyclical and Structural Systemic Risks: Insights from Around and After the Global Financial Crisis," Research and Policy Notes 2021/03, Czech National Bank, Research and Statistics Department.
    316. Barci, Giovanni, 2025. "The effects of monetary policy on macroeconomic downside risk: state-dependence matters," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
    317. Muellbauer, John, 2018. "The Future of Macroeconomics," INET Oxford Working Papers 2018-10, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    318. Mikhail Mamonov, 2020. "Maturity Structure of Banking Transactions and Its Role in Predicting Negative Net Worth of Banks," Russian Journal of Money and Finance, Bank of Russia, vol. 79(2), pages 70-100, June.
    319. Song Joonhyuk & Ryu Doojin, 2021. "Houses as Collateral and Household Debt Deleveraging in Korea," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 15(1), pages 3-27, January.
    320. Sarah Kuypers & Gerlinde Verbist, 2022. "Over-indebtedness and poverty : Patterns across household types and policy effects," Working Paper Research 420, National Bank of Belgium.
    321. Kim, Soyoung & Mehrotra, Aaron, 2022. "Examining macroprudential policy and its macroeconomic effects – Some new evidence," Journal of International Money and Finance, Elsevier, vol. 128(C).
    322. Laeven, Luc & Perez-Quiros, Gabriel & Rivas, María Dolores Gadea, 2020. "Growth-and-risk trade-off," Working Paper Series 2397, European Central Bank.
    323. Рысбаева Ә. Б. // Rysbayeva A.B. & Ханет А. Б. // Khanet А. B., 2024. "Фискальные мультипликаторы в Казахстане // Fiscal Multipliers in Kazakhstan," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 24-44.
    324. Xavier Freixas & Luz Mary Pinzón, 2025. "Does local credit matter? The Spanish case," Economics Working Papers 1919, Department of Economics and Business, Universitat Pompeu Fabra.
    325. Milan Szabo & Zlatuse Komarkova & Martin Casta, 2020. "Vulnerable growth: Bayesian GDP-at-Risk," Occasional Publications - Chapters in Edited Volumes,, Czech National Bank, Research and Statistics Department.
    326. Hongxia Zhang & Heeho Kim, 2024. "Urbanization and the excess mortgage risk – an optimal mortgage model," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-10, December.
    327. Maximilian Grimm & Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2023. "Loose Monetary Policy and Financial Instability," Working Paper Series 2023-06, Federal Reserve Bank of San Francisco.
    328. Holm-Hadulla, Fédéric & Thürwächter, Claire, 2024. "Granular shocks to corporate leverage and the macroeconomic transmission of monetary policy," Working Paper Series 2891, European Central Bank.
    329. Gillitzer, Christian & Prasad, Nalini, 2025. "The effects of macroprudential policy restricting housing investor credit supply," Journal of Urban Economics, Elsevier, vol. 149(C).
    330. William Gatt, 2024. "Loan‐to‐value limits as a macroprudential policy tool: Developments in theory and practice," Journal of Economic Surveys, Wiley Blackwell, vol. 38(1), pages 232-267, February.
    331. Beutel, Johannes & Emter, Lorenz & Metiu, Norbert & Prieto, Esteban & Schüler, Yves, 2025. "The global financial cycle and macroeconomic tail risks," Journal of International Money and Finance, Elsevier, vol. 156(C).
    332. Pablo Guerron-Quintana & Alexey Khazanov & Molin Zhong, 2026. "A Nonlinear Dynamic Factor Model for Financial and Macroeconomic Data," Boston College Working Papers in Economics 1106, Boston College Department of Economics.
    333. Bruno Albuquerque, 2024. "Corporate debt booms, financial constraints, and the investment nexus," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 39(5), pages 766-789, August.
    334. David Aikman & Jonathan Bridges & Anil Kashyap & Caspar Siergert, 2018. "Would macroprudential regulation have prevented the last crisis?," Bank of England working papers 747, Bank of England.
    335. Jonathan Kearns & Mike Major & David Norman, 2021. "How Risky Is Australian Household Debt?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 54(3), pages 313-330, September.
    336. Geršl, Adam & Jašová, Martina, 2018. "Credit-based early warning indicators of banking crises in emerging markets," Economic Systems, Elsevier, vol. 42(1), pages 18-31.
    337. Cesa-Bianchi, Ambrogio & Eguren Martin, Fernando & Thwaites, Gregory, 2019. "Foreign booms, domestic busts: The global dimension of banking crises," Journal of Financial Intermediation, Elsevier, vol. 37(C), pages 58-74.
    338. Bezemer, Dirk & Zhang, Lu, 2019. "Credit composition and the severity of post-crisis recessions," Journal of Financial Stability, Elsevier, vol. 42(C), pages 52-66.
    339. Samba Mbaye & Ms. Marialuz Moreno Badia & Kyungla Chae, 2018. "Bailing Out the People? When Private Debt Becomes Public," IMF Working Papers 2018/141, International Monetary Fund.
    340. Jieun Lee & Ilhyock Shim, 2026. "Lending to vulnerable households and consumption: evidence from Korea," BIS Working Papers 1331, Bank for International Settlements.
    341. Gaffney, Edward & McCann, Fergal, 2022. "The economics of debt relief during a pandemic: lessons from the experience in Ireland," ESRB Occasional Paper Series 20, European Systemic Risk Board.
    342. Oezer Karagedikli & Ole Rummel, 2020. "Weighing up the Credit-to-GDP gap: A cautionary note," MAGKS Papers on Economics 202022, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    343. Sevim Kösem, 2021. "Income inequality, mortgage debt and house prices," Bank of England working papers 921, Bank of England.
    344. Jiang, Ruishi & Ruan, Jia & Long, Keru & Ni, Jianhui, 2024. "Monetary policy, corporate credit and digital transformation," Finance Research Letters, Elsevier, vol. 67(PA).
    345. Widiantoro, Dimas Mukhlas, 2022. "Countercyclical capital buffer: building the resilience or taming the rapid financial cycle?," MPRA Paper 113507, University Library of Munich, Germany.
    346. Emter, Lorenz, 2023. "Leverage cycles, growth shocks, and sudden stops in capital inflows," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 711-731.
    347. Sonan Memon, 2023. "Expectation Shocks and Business Cycles," PIDE-Working Papers 2023:2, Pakistan Institute of Development Economics.
    348. Mattia Guerini & Alessio Moneta & Mauro Napoletano & Andrea Roventini, 2017. "The Janus-faced nature of debt : result from a data-driven cointegrated SVAR approach," Documents de Travail de l'OFCE 2017-02, Observatoire Francais des Conjonctures Economiques (OFCE).
    349. Keunbae Ahn, 2021. "Predictable Fluctuations in the Cross-Section and Time-Series of Asset Prices," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 1-2021, January-A.
    350. Kern, Andreas & Reinsberg, Bernhard & Rau-Göhring, Matthias, 2019. "IMF conditionality and central bank independence," European Journal of Political Economy, Elsevier, vol. 59(C), pages 212-229.
    351. Horvath, Jaroslav & Rothman, Philip, 2021. "Mortgage spreads, asset prices, and business cycles in emerging countries," Journal of International Money and Finance, Elsevier, vol. 115(C).
    352. Silvo, Aino & Verona, Fabio, 2020. "The Aino 3.0 model," Bank of Finland Research Discussion Papers 9/2020, Bank of Finland.
    353. Harashima, Taiji, 2020. "A Theory of the Credit-to-GDP Gap: Using Credit Gaps to Predict Financial Crises," MPRA Paper 111732, University Library of Munich, Germany.
    354. Grzegorz Wałęga & Agnieszka Wałęga, 2021. "Over-indebted Households in Poland: Classification Tree Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 153(2), pages 561-584, January.
    355. Ambrocio, Gene, 2019. "Measuring household uncertainty in EU countries," Bank of Finland Research Discussion Papers 17/2019, Bank of Finland.
    356. Coccia, Samantha & Gallegati, Mauro & Russo, Alberto, 2025. "Macroprudential and monetary policies to deal with inequality," Structural Change and Economic Dynamics, Elsevier, vol. 75(C), pages 895-912.
    357. Ziwei Mei & Liugang Sheng & Zhentao Shi, 2023. "Nickell Bias in Panel Local Projection: Financial Crises Are Worse Than You Think," Papers 2302.13455, arXiv.org, revised Jan 2026.
    358. Chadha, Jagjit S. & Corrado, Germana & Corrado, Luisa & De Lorenzo Buratta, Ivan, 2026. "The role of macroprudential policy in times of trouble," European Economic Review, Elsevier, vol. 181(C).
    359. Kenneth Rogoff & Yuanchen Yang, 2021. "Has China's Housing Production Peaked?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 29(1), pages 1-31, January.
    360. Mathias Drehmann & James Yetman, 2018. "Why you should use the Hodrick-Prescott filter - at least to generate credit gaps," BIS Working Papers 744, Bank for International Settlements.
    361. Gu, Yanwei & Guo, Jing & Liang, Xiao & Zhao, Yajun, 2022. "Does the debt-growth link differ across private and public debt? Evidence from China," Economic Modelling, Elsevier, vol. 114(C).
    362. Enrico Perotti & Magdalena Rola-Janicka, 2022. "The Good, the Bad, and the Missed Boom," The Review of Financial Studies, Society for Financial Studies, vol. 35(11), pages 5025-5056.
    363. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2017. "Nonfinancial debt and economic growth in euro-area countries," IREA Working Papers 201714, University of Barcelona, Research Institute of Applied Economics, revised Jul 2017.
    364. Gächter, Martin & Hasler, Elias & Scharler, Johann, 2023. "Kicking the can down the road: A historical growth-at-risk perspective," Economics Letters, Elsevier, vol. 228(C).
    365. Valérie Chauvin & John Muellbauer, 2018. "Consumption, household portfolios and the housing market in France," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 500-501-5, pages 157-178.
    366. Dalia Mansour-Ibrahim, 2023. "Are the Eurozone Financial and Business Cycles Convergent Across Time and Frequency?," Computational Economics, Springer;Society for Computational Economics, vol. 61(1), pages 389-427, January.
    367. Atif Mian & Amir Sufi & Emil Verner, 2017. "How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s," NBER Working Papers 23802, National Bureau of Economic Research, Inc.
    368. Andrieş, Alin Marius & Ongena, Steven & Sprincean, Nicu, 2025. "Sectoral credit allocation and systemic risk," Journal of Financial Stability, Elsevier, vol. 76(C).
    369. Bank for International Settlements, 2022. "Private sector debt and financial stability," CGFS Papers, Bank for International Settlements, number 67.
    370. Giuzio, Margherita & Kapadia, Sujit & Kaufmann, Christoph & Storz, Manuela & Weistroffer, Christian, 2025. "Macroprudential policy, monetary policy and non-bank financial intermediation," Working Paper Series 3130, European Central Bank.
    371. Aydın, Deniz, 2021. "Consumption Response to Credit Expansions: Evidence from Experimental Assignment of 45,307 Credit Lines," EconStor Preprints 222359, ZBW - Leibniz Information Centre for Economics.
    372. James Cloyne & Òscar Jordà & Sanjay R. Singh & Alan M. Taylor, 2025. "Asset Prices and Credit with Diagnostic Expectations," Working Paper Series 2025-15, Federal Reserve Bank of San Francisco.
    373. Moritz Schularick, 2021. "Corporate indebtedness and macroeconomic stabilisation from a long-term perspective," ECONtribute Policy Brief Series 024, University of Bonn and University of Cologne, Germany.
    374. Rüth, Sebastian K. & Simon, Camilla, 2020. "How Do Income and the Debt Position of Households Propagate Public into Private Spending?," Working Papers 0676, University of Heidelberg, Department of Economics.
    375. Mariarosaria Comunale, 2020. "New synchronicity indices between real and financial cycles: Is there any link to structural characteristics and recessions in European Union countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(4), pages 617-641, October.
    376. Алдашев А. // Aldashev А. & Баткеев Б. // Batkeyev В., 2024. "Задолженность домохозяйств, гетерогенность и финансовая стабильность на примере Казахстана // Household debt, heterogeneity and financial stability: Evidence from Kazakhstan," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 90-91.
    377. Bahadir, Berrak & De, Kuhelika & Lastrapes, William D., 2020. "Household debt, consumption and inequality," Journal of International Money and Finance, Elsevier, vol. 109(C).
    378. Alter, Adrian & Mahoney, Elizabeth M., 2021. "Local house-price vulnerability: Evidence from the U.S. and Canada," Journal of Housing Economics, Elsevier, vol. 54(C).
    379. Helmut Herwartz & Christian Ochsner & Hannes Rohloff, 2021. "Global Credit Shocks and Real Economies," MAGKS Papers on Economics 202116, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    380. Demirel, Ufuk Devrim, 2021. "The short-term effects of tax changes: The role of state dependence," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 918-934.
    381. Bahadir, Berrak & Gumus, Inci & Schaffer, Matthew, 2024. "Does relaxing household credit constraints hurt small business lending? Evidence from a policy change in Texas," Journal of Corporate Finance, Elsevier, vol. 89(C).
    382. Juselius, Mikael & Drehmann, Mathias, 2016. "Leverage dynamics and the burden of debt," Bank of Finland Research Discussion Papers 3/2016, Bank of Finland.
    383. Agarwal, Sumit & Chomsisengphet, Souphala & Meier, Stephan & Zou, Xin, 2020. "In the mood to consume: Effect of sunshine on credit card spending," Journal of Banking & Finance, Elsevier, vol. 121(C).
    384. Ristolainen, Kim, 2026. "Quantifying Minsky cycles," Bank of Finland Research Discussion Papers 3/2026, Bank of Finland.
    385. Svensson, Lars E.O., 2020. "Macroprudential Policy and Household Debt: What is Wrong with Swedish Macroprudential Policy?," CEPR Discussion Papers 14585, Centre for Economic Policy Research.
    386. Raphaël Cardot-Martin & Fabien Labondance & Catherine Refait-Alexandre, 2021. "Capital ratios and banking crises in the European Union," Working Papers 2021-05, CRESE.
    387. Richard Carson, 2020. "Inclusiveness, Growth, and Political Support," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 46(4), pages 557-575, October.
    388. Ítalo Pedrosa & Dany Lang, 2021. "To what extent does aggregate leverage determine financial fragility? New insights from an agent-based stock-flow consistent model," Journal of Evolutionary Economics, Springer, vol. 31(4), pages 1221-1275, September.
    389. Татибеков Б. // Tatibekov B. & Абдразакова А. // Abdrazakova А., 2024. "Особенности взаимосвязи рынка труда и инфляционных процессов в экономике Казахстана в период 2001-2021 гг.: теория и практика реализации // Specifics of Relationship between the Labor Market and Inflationary Processes in the Kazakh Economy in 2001-20," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 60-61.
    390. Saka, Orkun & Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei & Martelli, Angelo, 2019. "Financial Crises and Liberalization: Progress or Reversals?," IZA Discussion Papers 12393, IZA Network @ LISER.
    391. Stockhammer, Engelbert & Calvert Jump, Robert & Kohler, Karsten & Cavallero, Julian, 2019. "Short and medium term financial-real cycles: An empirical assessment," Journal of International Money and Finance, Elsevier, vol. 94(C), pages 81-96.
    392. Yuriy Bilan & Maryna Brychko & Anna Buriak & Tetyana Vasilyeva, 2019. "Financial, business and trust cycles: the issues of synchronization," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 37(1), pages 113-138.
    393. Hyun Hak Kim, 2022. "A dynamic analysis of household debt using a self-organizing map," Empirical Economics, Springer, vol. 62(6), pages 2893-2919, June.
    394. Ritwik Banerjee & Priyama Majumdar, 2023. "Exponential growth bias in the prediction of COVID‐19 spread and economic expectation," Economica, London School of Economics and Political Science, vol. 90(358), pages 653-689, April.
    395. Mr. Adrian Alter & Alan Xiaochen Feng & Nico Valckx, 2018. "Understanding the Macro-Financial Effects of Household Debt: A Global Perspective," IMF Working Papers 2018/076, International Monetary Fund.
    396. Peter Karlström, 2023. "Macroprudential Policy, Credit Booms, and Banks' Systemic Risk," CEMLA Working Paper Series 03/2023, CEMLA.
    397. Lixin Sun, 2023. "Debt and real interest rates: Evidence from G20 countries," Review of International Economics, Wiley Blackwell, vol. 31(4), pages 1528-1551, September.
    398. Romanos Priftis & Anastasia Theofilakou, 2021. "Growth effects of corporate balance sheet adjustments in the EU," Empirical Economics, Springer, vol. 60(2), pages 773-801, February.
    399. Chaudry, Atif Saeed & Azmat, Saad & Sohail, Maryam, 2018. "State contingent and conventional banking: The optimal banking choice model," Economic Modelling, Elsevier, vol. 68(C), pages 167-177.
    400. Hodula, Martin & Melecký, Martin & Pfeifer, Lukáš & Szabo, Milan, 2023. "Cooling the mortgage loan market: The effect of borrower-based limits on new mortgage lending," Journal of International Money and Finance, Elsevier, vol. 132(C).
    401. Nina Boyarchenko & Leonardo Elias, 2024. "Financing Private Credit," Staff Reports 1111, Federal Reserve Bank of New York.
    402. Jeremy C. Stein, 2021. "Can Policy Tame the Credit Cycle?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 5-22, March.
    403. Li, Rui & Li, Jianping & Zhu, Xiaoqian, 2025. "Downside belief disagreements and financial instability: Evidence from risk factor disclosures in U.S. financial institutions’ 10-K filings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    404. Samir AMINE & Wilner PREDELUS, 2023. "Financial difficulties and economic recession: Evidence from Canadian seniors," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(634), S), pages 227-238, Spring.
    405. Martin Hodula & Milan Szabo & Lukas Pfeifer & Martin Melecky, 2022. "Cooling the Mortgage Loan Market: The Effect of Recommended Borrower-Based Limits on New Mortgage Lending," Working Papers 2022/3, Czech National Bank, Research and Statistics Department.
    406. Nelson Camanho & Toni dos Santos & Jesús Gorrín & Bernardo Ricca, 2025. "Household Debt Composition and Labor Market Outcomes," Working Papers Series 616, Central Bank of Brazil, Research Department.
    407. Zhou, Xue & Yang, Xiaolan & Jin, Xuejun & Zhang, Lele, 2025. "Enhancing optimal consumption: Experimental insights into nudging borrowing behavior via a life cycle model," China Economic Review, Elsevier, vol. 90(C).
    408. Michal Skara & Ladislava Issever Grochova, 2025. "Do inequality and fiscal redistribution matter when credit bites back?," MENDELU Working Papers in Business and Economics 2025-108, Mendel University in Brno, Faculty of Business and Economics.
    409. SUI, Qing-yuan, 2025. "Impact of Quantitative Easing on Bank Lending to Different Industries or Sectors," Discussion paper series HIAS-E-144, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.

  18. Atif Mian & Amir Sufi & Nasim Khoshkhou, 2015. "Government Economic Policy, Sentiments, and Consumption," NBER Working Papers 21316, National Bureau of Economic Research, Inc.

    Cited by:

    1. Francesco D'Acunto & Ulrike M. Malmendier & Juan Ospina & Michael Weber & Michael Weber, 2019. "Exposure to Daily Price Changes and Inflation Expectations," CESifo Working Paper Series 7798, CESifo.
    2. Jess Benhabib & Mark M. Spiegel, 2016. "Sentiments and Economic Activity: Evidence from U.S. States," Working Paper Series 2016-19, Federal Reserve Bank of San Francisco.
    3. Julie Berry Cullen & Nicholas Turner & Ebonya L. Washington, 2018. "Political Alignment, Attitudes Toward Government and Tax Evasion," NBER Working Papers 24323, National Bureau of Economic Research, Inc.
    4. Shu-Heng Chen & Ragupathy Venkatachalam, 2017. "Information aggregation and computational intelligence," Evolutionary and Institutional Economics Review, Springer, vol. 14(1), pages 231-252, June.
    5. Xu, Zhiwei & Zhou, Fei & Zhou, Jing, 2022. "Sentiments and real business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    6. Al-Thaqeb, Saud Asaad & Algharabali, Barrak Ghanim, 2019. "Economic policy uncertainty: A literature review," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).
    7. Ghosh, Arkadev & Mitra, Aruni & Mukherji, Ronit, 2025. "Consumer Sentiment and Identity Politics: Evidence from India," MPRA Paper 124881, University Library of Munich, Germany.

  19. Atif Mian & Amir Sufi, 2015. "Household Debt and Defaults from 2000 to 2010: Facts from Credit Bureau Data," NBER Working Papers 21203, National Bureau of Economic Research, Inc.

    Cited by:

    1. Athiphat Muthitacharoen & Krislert Samphantharak & Sommarat Chantarat, 2019. "Fiscal stimulus and debt burden: evidence from Thailand’s first-car-buyer tax rebate program," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 26(6), pages 1383-1415, December.
    2. Gregory Bauer & Gurnain Pasricha & Rodrigo Sekkel & Yaz Terajima, 2016. "The Global Financial Cycle, Monetary Policies and Macroprudential Regulations in Small, Open Economies," Staff Working Papers 16-38, Bank of Canada.
    3. Albanesi, Stefania & DeGiorgi, Giacomo & Nosal, Jaromir, 2022. "Credit growth and the financial crisis: A new narrative," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 118-139.
    4. Nelson Lind, 2017. "Credit Regimes and the Seeds of Crisis," 2017 Meeting Papers 1474, Society for Economic Dynamics.
    5. Kaelo Mpho Ntwaepelo, 2021. "The Effects of Macroprudential and Monetary Policy Shocks in BRICS economies," Economics Discussion Papers em-dp2021-20, Department of Economics, University of Reading.
    6. Jiseob Kim, 2016. "Why household debt held by Korean seniors is problematic: An international comparison," Economics Bulletin, AccessEcon, vol. 36(4), pages 2080-2093.
    7. Sommarat Chantarat & Athiphat Muthitacharoen & Krislert Samphantharak, 2017. "Fiscal Stimulus and Household Debt: Evidence from Thailand's First-Car Buyer Tax Rebate," PIER Discussion Papers 60, Puey Ungphakorn Institute for Economic Research.
    8. Olivier Mesly & David W. Shanafelt & Nicolas Huck, 2020. "Dysfunctional markets: A spray of prey perspective," Working Papers of BETA 2020-34, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    9. Allen N. Berger & Onesime Epouhe & Raluca Roman, 2021. "A Tale of Two Bailouts: Effects of TARP and PPP on Subprime Consumer Debt," Working Papers 21-32, Federal Reserve Bank of Philadelphia.
    10. Sommarat Chantarat & Atchana Lamsam & Krislert Samphantharak & Bhumjai Tangsawasdirat, 2017. "Thailand's Household Debt through the Lens of Credit Bureau Data: Debt and Delinquency," PIER Discussion Papers 61, Puey Ungphakorn Institute for Economic Research.

  20. Atif Mian & Amir Sufi, 2014. "House Price Gains and U.S. Household Spending from 2002 to 2006," NBER Working Papers 20152, National Bureau of Economic Research, Inc.

    Cited by:

    1. Cengiz Tunc & Abdullah Yavas, 2017. "Collateral Damage: The Impact of Mortgage Debt on U.S. Savings," Housing Policy Debate, Taylor & Francis Journals, vol. 27(5), pages 712-733, September.
    2. Sami Alpanda & Sarah Zubairy, 2014. "Addressing Household Indebtedness: Monetary, Fiscal or Macroprudential Policy?," Staff Working Papers 14-58, Bank of Canada.
    3. Kim, Jiseob, 2020. "Macroeconomic effects of the mortgage refinance and the home equity lines of credit," Journal of Economic Dynamics and Control, Elsevier, vol. 121(C).
    4. Rafiq, Shuddhasattwa, 2022. "How did house and stock prices respond to different crisis episodes since the 1870s?," Economic Modelling, Elsevier, vol. 114(C).
    5. Khorunzhina, Natalia, 2018. "Intratemporal Nonseparability between Housing and Nondurable Consumption: Evidence from Reinvestment in Housing Stock," MPRA Paper 93920, University Library of Munich, Germany, revised 14 May 2019.
    6. Shuguang Xiao & Xinglin Lai & Jiamin Peng, 2021. "China's Easily Overlooked Monetary Transmission Mechanism: Monetary Reservoir," Papers 2111.15327, arXiv.org, revised Mar 2022.
    7. Juan Luo & Limin Xu & Ralf Zurbruegg, 2017. "The Impact of Housing Wealth on Stock Liquidity," Review of Finance, European Finance Association, vol. 21(6), pages 2315-2352.
    8. Rémi Bazillier & Jérôme Héricourt & Samuel Ligonnière, 2019. "Structure of Income Inequality and Household Leverage: Theory and Cross-Country Evidence," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-02079212, HAL.
    9. Stratton, Leslie S., 2017. "Housing Prices, Unemployment Rates, Disadvantage, and Progress toward a Degree," IZA Discussion Papers 10941, IZA Network @ LISER.
    10. Branch, William A. & Petrosky-Nadeau, Nicolas & Rocheteau, Guillaume, 2016. "Financial frictions, the housing market, and unemployment," Journal of Economic Theory, Elsevier, vol. 164(C), pages 101-135.
    11. Jaesang Sung & Qihua Qiu, 2020. "The Impact of Housing Prices on Health in the United States Before, During, and After the Great Recession," Southern Economic Journal, John Wiley & Sons, vol. 86(3), pages 910-940, January.
    12. Wei Fan & Yun He & Liang Hao & Fan Wu, 2024. "Do high house prices promote the development of China’s real economy? Empirical evidence based on the decomposition of real estate price," PLOS ONE, Public Library of Science, vol. 19(1), pages 1-25, January.
    13. Bielskis, Karolis & Lastauskas, Povilas, 2024. "The role of housing market and credit on household consumption dynamics: Evidence from the OECD countries," Journal of Economic Behavior & Organization, Elsevier, vol. 228(C).
    14. Lancastre, Manuel, 2016. "Inequality and Real Interest Rates," MPRA Paper 85047, University Library of Munich, Germany.
    15. Martin Beraja & Andreas Fuster & Erik Hurst & Joseph Vavra, 2015. "Regional heterogeneity and the refinancing channel of monetary policy," Staff Reports 731, Federal Reserve Bank of New York.
    16. Taejun Lim, 2018. "Housing as Collateral, Financial Constraints, and Small Businesses," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 68-85, October.
    17. Sung, Jaesang, 2017. "The Impact of Housing Prices on Health in U.S. Before, During and After the Great Recession," MPRA Paper 78831, University Library of Munich, Germany.
    18. Brett McCully & Karen M. Pence & Daniel J. Vine, 2015. "How Much Are Car Purchases Driven by Home Equity Withdrawal?," Finance and Economics Discussion Series 2015-106, Board of Governors of the Federal Reserve System (U.S.).
    19. Kim, Youngju & Lim, Hyunjoon, 2020. "Transmission of monetary policy in times of high household debt," Journal of Macroeconomics, Elsevier, vol. 63(C).
    20. Stockhammer, Engelbert & Bengtsson, Erik, 2019. "Financial effects in historic consumption and investment functions," Lund Papers in Economic History 188, Lund University, Department of Economic History.
    21. Biljanovska, Nina & Chen, Sophia, 2025. "Differential effects of macroprudential policy," Journal of Banking & Finance, Elsevier, vol. 176(C).
    22. Bénédicte Apouey & Isabelle Chort, 2018. "Are rising house prices really good for your brain? House value and cognitive functioning among older Europeans," Working Papers hal-02141060, HAL.
    23. Atif Mian & Amir Sufi, 2016. "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt," NBER Working Papers 22256, National Bureau of Economic Research, Inc.
    24. Xiangfa Li & Zhe Zhang & Weixian Xue & Hua Wang, 2022. "The Effects of Household Debt and Oil Price Shocks on Economic Growth in the Shadow of the Pandemic," Sustainability, MDPI, vol. 14(22), pages 1-16, November.
    25. Albuquerque, Bruno & Cerutti, Eugenio & Kido, Yosuke & Varghese, Richard, 2026. "Not all housing cycles are created equal: Macroeconomic consequences of housing booms," Journal of International Money and Finance, Elsevier, vol. 161(C).
    26. Rodney Ramcharan & Amir Kermani & Marco Di Maggio, 2015. "Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging," 2015 Meeting Papers 256, Society for Economic Dynamics.
    27. Deniz Aydin, 2015. "The Marginal Propensity to Consume out of Liquidity," Discussion Papers 15-010, Stanford Institute for Economic Policy Research.
    28. Paolo Gelain & Kevin J. Lansing & Gisele J. Natvik, 2015. "Explaining the Boom-Bust Cycle in the U.S. Housing Market: A Reverse-Engineering Approach," Working Paper Series 2015-2, Federal Reserve Bank of San Francisco.
    29. Figuerola-Ferretti, Isabel & Cueto, José Manuel & Márquez, Javier & Bermejo, Ramón, 2025. "Firm-level analysis of bubble formation in Chinese real estate equities," Economic Modelling, Elsevier, vol. 151(C).
    30. Paul Frijters & Benno Torgler & Christian Gillitzer & Jin Cong Wang, 2016. "Housing Wealth Effects: Cross-sectional Evidence from New Vehicle Registrations," The Economic Record, The Economic Society of Australia, vol. 92, pages 30-51, June.
    31. Ricardo J. Caballero & Alp Simsek, 2020. "Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect," NBER Working Papers 27712, National Bureau of Economic Research, Inc.
    32. Snyder, Tricia Coxwell & Vale, Sofia, 2022. "House prices and household credit in the Eurozone: A single monetary policy with dissonant transmission mechanisms," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 243-256.
    33. Xiaoqing Zhou, 2022. "Mortgage borrowing and the boom-bust cycle in consumption and residential investment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 244-268, April.

  21. Atif R. Mian & Amir Sufi & Francesco Trebbi, 2012. "Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises," NBER Working Papers 17831, National Bureau of Economic Research, Inc.

    Cited by:

    1. Manuel Funke & Christoph Trebesch, 2017. "Financial Crises and the Populist Right," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(04), pages 06-09, December.
    2. John V. Duca & Jason L. Saving, 2016. "Income Inequality and Political Polarization: Time Series Evidence Over Nine Decades," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(3), pages 445-466, September.
    3. Autor, David & Dorn, David & Hanson, Gordon & Majlesi, Kaveh, 2016. "Importing Political Polarization? The Electoral Consequences of Rising Trade Exposure," Working Papers 2016:21, Lund University, Department of Economics.
    4. Joshua Aizenman & Yothin Jinjarak & Mark M. Spiegel, 2022. "Fiscal Capacity and Commercial Bank Lending Under COVID-19," NBER Working Papers 29882, National Bureau of Economic Research, Inc.
    5. Alessandra Bonfiglioli & Gino Gancia, 2018. "Economic Uncertainty and Structural Reforms," Working Papers 877, Queen Mary University of London, School of Economics and Finance.
    6. Orkun Saka & Yuemei Ji & Paul De Grauwe, 2021. "Financial Policymaking after Crises: Public vs. Private Interests," CESifo Working Paper Series 9131, CESifo.
    7. Trebbi, Francesco & Canen, Nathan & Kendall, Chad, 2020. "Unbundling Polarization," CEPR Discussion Papers 14291, Centre for Economic Policy Research.
    8. Rafiq, Shuddhasattwa, 2022. "How did house and stock prices respond to different crisis episodes since the 1870s?," Economic Modelling, Elsevier, vol. 114(C).
    9. Saka, O. & Ji, Y. & Minaudier, C., 2024. "Political Accountability during Crises: Evidence from 40 years of Financial Policies," Working Papers 24/01, Department of Economics, City St George's, University of London.
    10. Bettarelli, Luca & Furceri, Davide & Pizzuto, Pietro & Yarveisi, Khatereh, 2024. "Crises and energy markets reforms," Energy Economics, Elsevier, vol. 136(C).
    11. Jon D. Wisman & Michael Cauvel, 2016. "Why Has Labor Not Demanded Guaranteed Employment?," Working Papers 2016-02, American University, Department of Economics.
    12. Barry Eichengreen & Orkun Saka & Cevat Giray Aksoy, 2020. "The Political Scar of Epidemics," NBER Working Papers 27401, National Bureau of Economic Research, Inc.
    13. van Dijk, Mathijs & van Dalen, Hendrik Peter & Hyde, Martin, 2019. "Who Bears the Brunt? The Impact of Banking Crises on Younger and Older Workers," Other publications TiSEM 3874c7cc-7e0c-4471-b73c-2, Tilburg University, School of Economics and Management.
    14. Bodea, Cristina & Houle, Christian & Kim, Hyunwoo, 2021. "Do financial crises increase income inequality?," World Development, Elsevier, vol. 147(C).
    15. Choi, Jaerim & Lim, Sunghun, 2022. "Tariffs, Agricultural Subsidies, and the 2020 US Presidential Election," 96th Annual Conference, April 4-6, 2022, K U Leuven, Belgium 321168, Agricultural Economics Society - AES.
    16. De Haas, Ralph & Djourelova, Milena & Nikolova, Elena, 2016. "The Great Recession and social preferences: Evidence from Ukraine," Journal of Comparative Economics, Elsevier, vol. 44(1), pages 92-107.
    17. Voth, Hans-Joachim & Doerr, Sebastian & Gissler, Stefan & Peydró, José-Luis, 2018. "Financial crises and political radicalization: How failing banks paved Hitler's path to power," CEPR Discussion Papers 12806, Centre for Economic Policy Research.
    18. Tuomas Malinen & Olli Ropponen, 2022. "To default or not? The aftermath of sovereign defaults and IMF programs in economic crises," The World Economy, Wiley Blackwell, vol. 45(7), pages 2052-2083, July.
    19. Augusto Cerqua & Chiara Ferrante & Marco Letta, 2021. "Electoral earthquake: natural disasters and the geography of discontent," Discussion Paper series in Regional Science & Economic Geography 2021-03, Gran Sasso Science Institute, Social Sciences, revised Mar 2021.
    20. Frieden, Jeffry, 2015. "The political economy of adjustment and rebalancing," Journal of International Money and Finance, Elsevier, vol. 52(C), pages 4-14.
    21. Andrea Goldstein & Alessia Amighini & Jeffry A. Frieden, 2016. "Macroeconomic Rebalancing in China and the G20," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 24(4), pages 15-33, July.
    22. Guirola, Luis, 2025. "Economic expectations under the shadow of party polarization: Evidence from 135 government changes," European Economic Review, Elsevier, vol. 171(C).
    23. David Lodge & Marta Rodriguez-Vives, 2013. "How long can austerity persist? The factors that sustain fiscal consolidations," European Journal of Government and Economics, Europa Grande, vol. 2(1), pages 5-24, June.
    24. Abuka, Charles & Alinda, Ronnie K. & Minoiu, Camelia & Peydró, José-Luis & Presbitero, Andrea F., 2019. "Monetary Policy and Bank Lending in Developing Countries: Loan Applications, Rates, and Real Effects," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 139, pages 185-202.
    25. Federico Favaretto & Donato Masciandaro, 2022. "Populism, financial crises and banking policies: Economics and psychology," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(4), pages 441-464, September.
    26. Alexander J. Stewart & Nichola Raihani, 2022. "Group reciprocity and the evolution of stereotyping," Papers 2205.12652, arXiv.org.
    27. Rafiq, Shuddhasattwa, 2020. "Projecting post-crisis house and equity prices since the 1870s:not all crises are alike," MPRA Paper 103164, University Library of Munich, Germany.
    28. Francesco Trebbi & Kairong Xiao, 2015. "Regulation and Market Liquidity," NBER Working Papers 21739, National Bureau of Economic Research, Inc.
    29. Carolina Arteaga & Victoria Barone, 2023. "Democracy and The Opioid Epidemic," Working Papers tecipa-765, University of Toronto, Department of Economics.
    30. Juan S. Morales, 2017. "Legislating during war: Conflict and politics in Colombia," HiCN Working Papers 261, Households in Conflict Network.
    31. Alessandra Bonfiglioli & Rosario Crinò & Gino Gancia, 2022. "Economic uncertainty and structural reforms: Evidence from stock market volatility," Quantitative Economics, Econometric Society, vol. 13(2), pages 467-504, May.
    32. Giuliano, Paola & Spilimbergo, Antonio, 2024. "Aggregate Shocks and the Formation of Preferences and Beliefs," IZA Discussion Papers 17110, IZA Network @ LISER.
    33. Ms. Valerie Cerra & Ms. Sweta Chaman Saxena, 2017. "Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications," IMF Working Papers 2017/250, International Monetary Fund.
    34. Tabellini, Guido & Panunzi, Fausto & Pavoni, Nicola, 2020. "Economic Shocks and Populism: The Political Implications of Reference-Dependent Preferences," CEPR Discussion Papers 15213, Centre for Economic Policy Research.
    35. Nan Li & Chris Papageorgiou & Tong Xu & Tao Zha, 2026. "Policy Contagion: What Do We Learn From Financial Reforms?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 67(1), pages 59-78, February.
    36. Helder Ferreira de Mendonça & Matheus Souza Peçanha, 2020. "Fiscal management performance and local economic development: evidence from a large emerging economy," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 48(3), pages 641-659, July.
    37. Kang, Youngho & Kim, Byung-Yeon & Lee, Dongwon, 2025. "Political polarization, state capacity, and economic growth," Economic Systems, Elsevier, vol. 49(4).
    38. Francesco Di Comite & Thomas Lambert, 2020. "Reforming Finance Under Fragmented Governments," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(1), pages 105-148, March.
    39. Trebbi, Francesco & Canen, Nathan & Kendall, Chad, 2020. "Political Parties as Drivers of U.S. Polarization: 1927-2018," CEPR Discussion Papers 15607, Centre for Economic Policy Research.
    40. Alberton Montagnoli & Mirko Moro & Georgios A Panos & Robert E Wright, 2016. "Financial literacy and political orientation in Great Britain," Working Papers 1614, University of Strathclyde Business School, Department of Economics.
    41. Florian Dorn & Clemens Fuest & Lea Immel & Florian Neumeier, 2020. "Economic Deprivation and Radical Voting: Evidence from Germany," ifo Working Paper Series 336, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    42. Jamie Bologna & Andrew T. Young, 2014. "Crises and Government: Some Empirical Evidence," Working Papers 14-36, Department of Economics, West Virginia University.
    43. Nan Li & Chris Papageorgiou & Tao Zha, 2021. "The S-curve: Understanding the Dynamics of Worldwide Financial Liberalization," FRB Atlanta Working Paper 2021-19, Federal Reserve Bank of Atlanta.
    44. Puspa D. Amri & Eric M. P. Chiu & Jacob M. Meyer & Greg M. Richey & Thomas D. Willett, 2022. "Correlates of Crisis Induced Credit Market Discipline: The Roles of Democracy, Veto Players, and Government Turnover," Open Economies Review, Springer, vol. 33(1), pages 61-87, February.
    45. Claudia I. Dobre & Costin I. Răsăuţeanu, 2016. "Global Economic Crisis and Government Intervention," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 14-19, February.
    46. Zahid Mehmood Akhtar & Dr. Faid Gul & Dr. Fauzia Mubarak, 2024. "Economic Growth and Financial Intermediation Nexus in Pakistan: An ARDL Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 542-551.
    47. Banerjee, Ryan & Blickle, Kristian, 2021. "Financial frictions, real estate collateral and small firm activity in Europe," European Economic Review, Elsevier, vol. 138(C).
    48. Silvia Marchesi & Giovanna Marcolongo, 2023. "Knockin' on H(e)aven's door. Financial crises and hidden wealth," Working Papers 518, University of Milano-Bicocca, Department of Economics.
    49. Alexander J. Stewart & Nolan McCarty & Joanna J. Bryson, 2018. "Polarization under rising inequality and economic decline," Papers 1807.11477, arXiv.org, revised Apr 2020.
    50. Gerald Carlino & Nicholas Zarra & Robert Inman & Thorsten Drautzburg, 2019. "Fiscal Policy in Monetary Unions: State Partisanship and its Macroeconomic Effects," 2019 Meeting Papers 434, Society for Economic Dynamics.
    51. Gunes Gokmen & Massimiliano Gaetano Onorato & Tommaso Nannicini & Chris Papageorgiou, 2017. "Policies in Hard Times: Assessing the Impact of Financial Crises on Structural Reforms," Working Papers 605, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    52. Estefania-Flores, Julia & Furceri, Davide & Ostry, Jonathan D. & Steinberg, Federico, 2025. "What drives trade policy reform?," Journal of Policy Modeling, Elsevier, vol. 47(4), pages 805-829.
    53. Dorn, Florian & Fuest, Clemens & Immel, Lea & Neumeier, Florian, 2018. "Inequality and Extremist Voting: Evidence from Germany," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181598, Verein für Socialpolitik / German Economic Association.
    54. José-Luis Peydró [AP BACKUP – NOW EXTERNAL] & Stefan Gissler & Sebastian Doerr & Hans-Joachim Voth & José-Luis Peydró, 2019. "From Finance to Fascism," Working Papers 1092, Barcelona School of Economics.
    55. Stephanie Lo & Kenneth Rogoff, 2015. "Secular stagnation, debt overhang and other rationales for sluggish growth, six years on," BIS Working Papers 482, Bank for International Settlements.
    56. Fetzer, Thiemo & Sen, Srinjoy & Souza, Pedro CL, 2019. "Housing insecurity, homelessness and populism: Evidence from the UK," CEPR Discussion Papers 14184, Centre for Economic Policy Research.
    57. Massimo Bordignon & Nicolò Gatti & Massimiliano Gaetano Onorato, 2023. "Getting Closer or Falling Apart? Euro Area Countries After the Sovereign Debt Crisis," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(2), pages 191-220, June.
    58. Kim, Dong-Hyeon & Liu, Peiyao & Lin, Shu-Chin, 2025. "Nonlinearity in the nexus between financial development and wealth inequality," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    59. Bombardini, Matilde & Li, Bingjing & Trebbi, Francesco, 2020. "Did U.S. Politicians Expect the China Shock?," CEPR Discussion Papers 15441, Centre for Economic Policy Research.
    60. Ernesto Crivelli & Mr. Sanjeev Gupta & Mr. Carlos Mulas-Granados & Carolina Correa-Caro, 2016. "Fragmented Politics and Public Debt," IMF Working Papers 2016/190, International Monetary Fund.
    61. Alexis Antoniades & Charles W. Calomiris, 2018. "Mortgage Market Credit Conditions and U.S. Presidential Elections," NBER Working Papers 24459, National Bureau of Economic Research, Inc.
    62. Solé-Ollé, Albert & Sorribas-Navarro, Pilar, 2018. "Trust no more? On the lasting effects of corruption scandals," European Journal of Political Economy, Elsevier, vol. 55(C), pages 185-203.
    63. Puspa Amri & Eric M.P. Chiu & Greg Richey & Thomas D. Willett, 2017. "Do financial crises discipline future credit growth?," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 9(3), pages 284-301, August.
    64. Arbatli Saxegaard, Elif C. & Davis, Steven J. & Ito, Arata & Miake, Naoko, 2022. "Policy uncertainty in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 64(C).
    65. Carmen M. Reinhart & Christoph Trebesch, 2015. "Sovereign Debt Relief and its Aftermath," CESifo Working Paper Series 5422, CESifo.
    66. Jan Libich & Liam Lenten, 2022. "Hero or villain? The financial system in the 21st century," Journal of Economic Surveys, Wiley Blackwell, vol. 36(1), pages 3-40, February.
    67. Octavia Foarta, 2016. "Politically Feasible Public Bailouts," 2016 Meeting Papers 1479, Society for Economic Dynamics.
    68. Pia Hüttl & Simon Baumgartner, 2023. "When Credit Turns Political: Evidence from the Spanish Financial Crisis," Discussion Papers of DIW Berlin 2042, DIW Berlin, German Institute for Economic Research.
    69. Steven J. Davis, 2019. "Rising Policy Uncertainty," NBER Working Papers 26243, National Bureau of Economic Research, Inc.
    70. Maximilian Grimm, 2024. "The Effect of Monetary Policy on Systemic Bank Funding Stability," ECONtribute Discussion Papers Series 341, University of Bonn and University of Cologne, Germany.
    71. Romain Duval & Davide Furceri & Jakob Miethe, 2021. "Robust political economy correlates of major product and labor market reforms in advanced economies: Evidence from BAMLE for logit models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 36(1), pages 98-124, January.
    72. Can Sever, 2022. "Financial crises and institutional quality," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 1510-1525, January.
    73. Huynh, Tran & Uebelmesser, Silke, 2024. "Early warning models for systemic banking crises: Can political indicators improve prediction?," European Journal of Political Economy, Elsevier, vol. 81(C).
    74. Fulong Xiao & Zini Liang & Yongbin Lv & Wei Wang, 2024. "The effect of government‐guided funds on target industries in development zones – Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(5), pages 4701-4722, December.
    75. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2025. "Structural reforms and economic performance: the experience of advanced economies," LSE Research Online Documents on Economics 120870, London School of Economics and Political Science, LSE Library.
    76. François Facchini & Louis Jaeck, 2021. "Populism and the rational choice model: The case of the French National Front," Rationality and Society, , vol. 33(2), pages 196-228, May.
    77. Bauernschuster, Stefan & Blum, Matthias & Hornung, Erik & Koenig, Christoph, 2025. "The political effects of the 1918 influenza pandemic in Weimar Germany," Explorations in Economic History, Elsevier, vol. 96(C).
    78. Hansen, Ole-Petter Moe & Legge, Stefan, 2015. "Trading off Welfare and Immigration in Europe," Discussion Paper Series in Economics 22/2015, Norwegian School of Economics, Department of Economics.
    79. Yotam Margalit, 2019. "Economic Insecurity and the Causes of Populism, Reconsidered," Journal of Economic Perspectives, American Economic Association, vol. 33(4), pages 152-170, Fall.
    80. Matteo Gamalerio & Massimo Morelli & Carlos Sanz & Albert Solé-Ollé & Pilar Sorribas-Navarro & Olle Folke & Johanna Rickne, 2020. "The Rise of New Political Parties in Western Democracies / El auge de nuevos partidos políticos en las democracias occidentales / L’ascens de nous partits polítics en les democràcies occidentals," IEB Reports ieb_report_2_2020, Institut d'Economia de Barcelona (IEB).
    81. Thanh Cong Nguyen & Vítor Castro & Justine Wood, 2022. "Political economy of financial crisis duration," Public Choice, Springer, vol. 192(3), pages 309-330, September.
    82. Prato, Carlo & Wolton, Stephane, 2018. "Rational ignorance, populism, and reform," European Journal of Political Economy, Elsevier, vol. 55(C), pages 119-135.
    83. Florian Haelg & Niklas Potrafke & Jan-Egbert Sturm, 2022. "The determinants of social expenditures in OECD countries," Public Choice, Springer, vol. 193(3), pages 233-261, December.
    84. Cerqua, Augusto & Ferrante, Chiara & Letta, Marco, 2023. "Electoral earthquake: Local shocks and authoritarian voting," European Economic Review, Elsevier, vol. 156(C).
    85. Nauro F. Campos & Paul De Grauwe & Yuemei Ji, 2025. "Structural Reforms and Economic Performance: The Experience of Advanced Economies," Journal of Economic Literature, American Economic Association, vol. 63(1), pages 111-163, March.
    86. Proaño Acosta, Christian & Peña, Juan Carlos & Saalfeld, Thomas, 2019. "Inequality, macroeconomic performance and political polarization: An empirical analysis," BERG Working Paper Series 149, Bamberg University, Bamberg Economic Research Group.
    87. Prato, Carlo & Wolton, Stephane, 2013. "Rational Ignorance, Elections, and Reform," MPRA Paper 68638, University Library of Munich, Germany, revised 10 Dec 2015.
    88. Naoyuki Yoshino & Prachi Gupta, 2019. "How to Avoid Household Debt Overhang? An Analytical Framework and Analysis for India," ADBI Working Papers 975, Asian Development Bank Institute.
    89. I. Ramsay & T. Williams, 2020. "Peering Forward, 10 Years After: International Policy and Consumer Credit Regulation," Journal of Consumer Policy, Springer, vol. 43(1), pages 209-226, March.
    90. Manuel Funke & Moritz Schularick & Christoph Trebesch, 2015. "Going to Extremes: Politics after Financial Crises, 1870-2014," CESifo Working Paper Series 5553, CESifo.
    91. Peydró, José-Luis & Abuka, Charles & Alinda, Ronnie & , & Minoiu, Camelia, 2017. "Financial Development and Monetary Policy: Loan Applications, Rates, and Real Effects," CEPR Discussion Papers 12171, Centre for Economic Policy Research.
    92. Farooq, Imran & Mavrotas, George & Cassimon, Danny, 2026. "Fiscal response in the presence of aid heterogeneity under political regime change: new evidence from Pakistan," IOB Working Papers 2026.01, Universiteit Antwerpen, Institute of Development Policy (IOB).
    93. Andrea Mattozzi & M. Nakaguma, 2017. "Public versus Secret Voting in Committees," Levine's Bibliography 786969000000001662, UCLA Department of Economics.
    94. Dalibor Rohac & Sahana Kumar & Andreas Johansson Heinö, 2017. "The wisdom of demagogues: institutions, corruption and support for authoritarian populists," Economic Affairs, Wiley Blackwell, vol. 37(3), pages 382-396, October.
    95. Oksana Kramarenko, 2015. "The Development of Strategic Bank Lending Industries in the Context of Globalization," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 228-241.
    96. Davide Romelli, 2018. "The political economy of reforms in central bank design: evidence from a new dataset," Trinity Economics Papers tep0918, Trinity College Dublin, Department of Economics.
    97. Jihad Dagher, 2018. "Regulatory Cycles: Revisiting the Political Economy of Financial Crises," IMF Working Papers 2018/008, International Monetary Fund.
    98. Ondrej Rolnik, 2022. "The influence of economic disparities of regions on political polarization in Czech Republic," MENDELU Working Papers in Business and Economics 2022-84, Mendel University in Brno, Faculty of Business and Economics.
    99. Győző Gyöngyösi & Emil Verner, 2022. "Financial Crisis, Creditor‐Debtor Conflict, and Populism," Journal of Finance, American Finance Association, vol. 77(4), pages 2471-2523, August.
    100. Marchesi, Silvia & Marcolongo, Giovanna, 2025. "Knockin’ on H(e)aven’s door. Financial crises and offshore wealth," Journal of International Economics, Elsevier, vol. 158(C).
    101. Proaño Acosta, Christian & Peña, Juan Carlos & Saalfeld, Thomas, 2020. "Inequality, macroeconomic performance and political polarization: A panel analysis of 20 advanced democracies," BERG Working Paper Series 157, Bamberg University, Bamberg Economic Research Group.
    102. Aaron Hedlund, 2019. "Pork-Barrel Politics and Polarization," Review, Federal Reserve Bank of St. Louis, vol. 101(1), pages 57-68.
    103. Saka, Orkun & Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei & Martelli, Angelo, 2019. "Financial Crises and Liberalization: Progress or Reversals?," IZA Discussion Papers 12393, IZA Network @ LISER.
    104. Antoniades, Alexis & Calomiris, Charles W., 2020. "Mortgage market credit conditions and U.S. Presidential elections," European Journal of Political Economy, Elsevier, vol. 64(C).
    105. Gyongyosi, Gyozo & Verner, Emil, 2018. "Financial Crisis, Creditor-Debtor Conflict, and Political Extremism," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181587, Verein für Socialpolitik / German Economic Association.

  22. Atif R. Mian & Amir Sufi, 2012. "What explains high unemployment? The aggregate demand channel," NBER Working Papers 17830, National Bureau of Economic Research, Inc.

    Cited by:

    1. Giovanni Dosi & Marcelo Pereira & Andrea Roventini & Maria Enrica Virgillito, 2018. "What if supply-side policies are not enough ? The perverse interaction of flexibility and austerity," Sciences Po Economics Publications (main) hal-03458460, HAL.
    2. Robert E. Hall, 2016. "Macroeconomics of Persistent Slumps," NBER Working Papers 22230, National Bureau of Economic Research, Inc.
    3. Martin C. Schmalz & David A. Sraer & David Thesmar, 2013. "Housing Collateral and Entrepreneurship," NBER Working Papers 19680, National Bureau of Economic Research, Inc.
    4. Wang, Hao & Xu, Ning & Yin, Haiyan & Ji, Hao, 2022. "The dynamic impact of monetary policy on financial stability in China after crises," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
    5. E. Mark Curtis, 2014. "Who Loses Under Power Plant Cap-and-Trade Programs?," NBER Working Papers 20808, National Bureau of Economic Research, Inc.
    6. Philippe Martin & Thomas Philippon, 2014. "Inspecting the Mechanism Leverage and the Great Recession in the Eurozone," Working Papers hal-03460217, HAL.
    7. Serena Ng & Jonathan H. Wright, 2013. "Facts and Challenges from the Great Recession for Forecasting and Macroeconomic Modeling," NBER Working Papers 19469, National Bureau of Economic Research, Inc.
    8. William A. Branch & Nicolas Petrosky-Nadeau & Guillaume Rocheteau, 2014. "Financial Frictions, the Housing Market, and Unemployment," Working Paper Series 2014-26, Federal Reserve Bank of San Francisco.
    9. Meta Brown & Sarah Stein & Basit Zafar, 2015. "The Impact of Housing Markets on Consumer Debt: Credit Report Evidence from 1999 to 2012," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 175-213, March.
    10. Mr. Anton Korinek & Alp Simsek, 2014. "Liquidity Trap and Excessive Leverage," IMF Working Papers 2014/129, International Monetary Fund.
    11. Adrian, Tobias & Liang, Nellie, 2016. "Monetary Policy, Financial Conditions, and Financial Stability," CEPR Discussion Papers 11394, Centre for Economic Policy Research.
    12. Harashima, Taiji, 2024. "Macroeconomics Is Still Useful and Necessary: A Mechanism to Explain the Condition when Strict Convexity is Unsatisfied," MPRA Paper 121168, University Library of Munich, Germany.
    13. Merike Kukk, 2015. "How Did Household Indebtedness Hamper Consumption during the Recession? Evidence from Micro Data," a/ Working Papers Series 1505, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    14. Sumit Agarwal & Gene Amromin & Itzhak Ben-David & Souphala Chomsisengphet & Tomasz Piskorski & Amit Seru, 2013. "Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program," Working Paper Series WP-2013-27, Federal Reserve Bank of Chicago.
    15. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2012. "House prices, credit growth, and excess volatility: implications for monetary and macroprudential policy," Working Paper Series 2012-11, Federal Reserve Bank of San Francisco.
    16. Coen Teulings, 2014. "Unemployment and house price crises: Lessons for Fiscal Policy from the Dutch Recession," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 3(1), pages 1-19, December.
    17. Li, Xianghong & Zhao, Xinlei, 2016. "Strategic Default Induced by Loan Modification Programs," MPRA Paper 73594, University Library of Munich, Germany.
    18. Gauti B. Eggertsson & Neil R. Mehrotra, 2015. "A Model of Secular Stagnation," IMES Discussion Paper Series 15-E-09, Institute for Monetary and Economic Studies, Bank of Japan.
    19. Thorsten Drautzburg, 2014. "A Narrative Approach to a Fiscal DSGE Model," 2014 Meeting Papers 791, Society for Economic Dynamics.
    20. Małecki, Witold, . "Finansjalizacja cykli koniunkturalnych i jej konsekwencje dla polityki stabilizacyjnej," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2016(4).
    21. Kai-Uwe Kuhn & Francine Lafontaine & Ying Fan, 2013. "Financial Constraints and Franchising Decisions," 2013 Meeting Papers 933, Society for Economic Dynamics.
    22. Matthew Rognlie & Andrei Shleifer & Alp Simsek, 2014. "Investment Hangover and the Great Recession," NBER Working Papers 20569, National Bureau of Economic Research, Inc.
    23. Haltenhof, Samuel & Jung Lee, Seung & Stebunovs, Viktors, 2014. "The credit crunch and fall in employment during the Great Recession," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 31-57.
    24. Shai Bernstein & Emanuele Colonnelli & Davide Malacrino & Timothy McQuade, 2018. "Who Creates New Firms When Local Opportunities Arise?," NBER Working Papers 25112, National Bureau of Economic Research, Inc.
    25. Kyle Herkenhoff & Gordon Phillips & Ethan Cohen-Cole, 2017. "The Impact of Consumer Credit Access on Employment, Earnings, and Entrepreneurship," Working Papers 2017-011, Human Capital and Economic Opportunity Working Group.
    26. Deniz Aydin, 2015. "The marginal propensity to consume out of liquidity: Evidence from a randomized controlled trial," 2015 Meeting Papers 270, Society for Economic Dynamics.
    27. Pender, Casey, 2024. "Is deflation cause for panic? Evidence from the National Banking era," Journal of Macroeconomics, Elsevier, vol. 82(C).
    28. Tommaso Monacelli & Vincenzo Quadrini & Antonella Trigari, 2011. "Financial Markets and Unemployment," NBER Working Papers 17389, National Bureau of Economic Research, Inc.
    29. Fornaro, Luca, 2015. "International Debt Deleveraging," CEPR Discussion Papers 10469, Centre for Economic Policy Research.
    30. Dmitriy Sergeyev & Neil Mehrotra, 2015. "Financial Shocks and Job Flows," 2015 Meeting Papers 520, Society for Economic Dynamics.
    31. Johnston, Andrew C. & Mas, Alexandre, 2020. "Potential Unemployment Insurance Duration and Labor Supply: The Individual and Market-Level Response to a Benefit Cut," IZA Discussion Papers 13331, IZA Network @ LISER.
    32. Kim, Yeonghyeon & Lee, Junyong & Lee, Kyounghun & Oh, Frederick Dongchuhl, 2024. "Corporate disclosure behavior during financial crises: Evidence from Korea," Journal of Financial Stability, Elsevier, vol. 73(C).
    33. Nguyen, Ha & Qian, Rong, 2014. "Demand collapse or credit crunch to firms? Evidence from the World Bank's financial crisis survey in Eastern Europe," Journal of International Money and Finance, Elsevier, vol. 44(C), pages 125-144.
    34. Karpestam, Peter & Johansson, Sebastian, 2019. "Interest-only-mortgages and housing market fluctuations in Denmark," Journal of Housing Economics, Elsevier, vol. 46(C).
    35. Ryan Niladri Banerjee & Kristian S Blickle, 2016. "Housing collateral and small firm activity in Europe," BIS Working Papers 575, Bank for International Settlements.
    36. Ms. Sally Chen & Minsuk Kim & Marijn Otte & Kevin Wiseman & Ms. Aleksandra Zdzienicka, 2015. "Private Sector Deleveraging and Growth Following Busts," IMF Working Papers 2015/035, International Monetary Fund.
    37. Luke Petach, 2020. "Local financialization, household debt, and the great recession," Papers in Regional Science, Wiley Blackwell, vol. 99(3), pages 807-839, June.
    38. Kühn, Kai-Uwe & Lafontaine, Francine & Fan, Ying, 2013. "Financial Constraints and Moral Hazard: The Case of Franchising," CEPR Discussion Papers 9728, Centre for Economic Policy Research.
    39. William D. Lastrapes & Ian Schmutte & Thor Watson, 2022. "Home equity lending, credit constraints and small business in the US," Economic Inquiry, Western Economic Association International, vol. 60(1), pages 43-63, January.
    40. Harashima, Taiji, 2024. "Numerical Simulation of Economic Depression," MPRA Paper 120508, University Library of Munich, Germany.
    41. Manuel Adelino & Song Ma & David T. Robinson, 2014. "Firm Age, Investment Opportunities, and Job Creation," NBER Working Papers 19845, National Bureau of Economic Research, Inc.
    42. Zhen Huo & Jose-Victor Rios-Rull, 2020. "Demand Induced Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 99-117, August.
    43. Jonathan Zinman, 2014. "Consumer Credit: Too Much or Too Little (or Just Right)?," The Journal of Legal Studies, University of Chicago Press, vol. 43(S2), pages 209-237.
    44. Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Upjohn Working Papers 14-214, W.E. Upjohn Institute for Employment Research.
    45. Jajati Keshari Parida & Shiba Shankar Pattayat, 2024. "Constraints on the Labour Market Trajectory of Youth and Growth of NEET in India," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 49(3), pages 477-503, August.
    46. John G. Fernald, 2014. "Productivity and Potential Output Before, During, and After the Great Recession," Working Paper Series 2014-15, Federal Reserve Bank of San Francisco.
    47. Stumpner, Sebastian, 2019. "Trade and the geographic spread of the great recession," Journal of International Economics, Elsevier, vol. 119(C), pages 169-180.
    48. Curtis, E. Mark, 2020. "Reevaluating the ozone nonattainment standards: Evidence from the 2004 expansion," Journal of Environmental Economics and Management, Elsevier, vol. 99(C).
    49. Robert E. Hall, 2012. "Monitoring the Financial Condition and Expenditures of Households," NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 175-182, National Bureau of Economic Research, Inc.
    50. William R. White, 2012. "Ultra easy monetary policy and the law of unintended consequences," Globalization Institute Working Papers 126, Federal Reserve Bank of Dallas.
    51. Amir Sufi, 2012. "Commentary: redistributive monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 385-396.
    52. Xing, Xiaoyun & Xiong, Wanting & Guo, Jinzhong & Wang, Yougui, 2021. "The role of debt in aggregate demand," Finance Research Letters, Elsevier, vol. 39(C).
    53. Harashima, Taiji, 2019. "A Pareto Inefficient Path to Steady State in Recession," MPRA Paper 93216, University Library of Munich, Germany.
    54. Todd Messer & Michael Siemer & Francois Gourio, 2016. "A Missing Generation of Firms? Aggregate Effects of the Decline in New Business Formation," 2016 Meeting Papers 752, Society for Economic Dynamics.
    55. Sebastian Jauch & Sebastian Watzka, 2012. "The Effect of Household Debt on Aggregate Demand - The Case of Spain," CESifo Working Paper Series 3924, CESifo.
    56. Curtis Simon, 2014. "Sectoral Change And Unemployment During The Great Recession, In Historical Perspective," Journal of Regional Science, Wiley Blackwell, vol. 54(5), pages 828-855, November.
    57. Cao, Dan & L’Huillier, Jean-Paul, 2018. "Technological revolutions and the Three Great Slumps: A medium-run analysis," Journal of Monetary Economics, Elsevier, vol. 96(C), pages 93-108.
    58. Mark Bils & Peter J. Klenow & Benjamin A. Malin, 2012. "Testing for Keynesian Labor Demand," NBER Chapters, in: NBER Macroeconomics Annual 2012, Volume 27, pages 311-349, National Bureau of Economic Research, Inc.
    59. Sara Moreira, 2017. "Firm Dynamics, Persistent Effects of Entry Conditions, and Business Cycles," Working Papers 17-29, Center for Economic Studies, U.S. Census Bureau.
    60. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Engineering a paradox of thrift recession," FRB Atlanta CQER Working Paper 2013-03, Federal Reserve Bank of Atlanta.
    61. Harashima, Taiji, 2016. "The Cause of the Great Recession: What Caused the Downward Shift of the GDP Trend in the United States?," MPRA Paper 69215, University Library of Munich, Germany.
    62. J. L. Hotchkiss & M. M. Pitts & F. Rios-Avila, 2014. "A search for evidence of skill mismatch in the aftermath of the great recession," Applied Economics Letters, Taylor & Francis Journals, vol. 21(9), pages 587-592, June.
    63. Youngjoo Choi & Jong Chil Son, 2016. "Nonlinear Effect of Household Debt on Consumption: Evidence from Household-level Panel Data in Korea," Economics Bulletin, AccessEcon, vol. 36(2), pages 1083-1094.
    64. Kerwin Kofi Charles & Erik Hurst & Matthew J. Notowidigdo, 2013. "Housing Booms, Manufacturing Decline, and Labor Market Outcomes," NBER Working Papers 18949, National Bureau of Economic Research, Inc.
    65. Juan Laborda & Cristina Suárez, 2024. "Heterogeneity in household consumption behavior: The role of inequality and financial instability," Journal of Evolutionary Economics, Springer, vol. 34(1), pages 63-88, January.
    66. Eden, Maya, 2013. "International liquidity rents," Policy Research Working Paper Series 6462, The World Bank.
    67. Liang Wu & Lei Zhang & Zhiming Fu, 2015. "Deleveraging, short sale constraints and market crash," Papers 1511.03777, arXiv.org.
    68. Wix, Carlo & Schüwer, Ulrich, 2016. "Monetary Policy and Bank Lending: A Natural Experiment from the US Mortgage Market," VfS Annual Conference 2016 (Augsburg): Demographic Change 145943, Verein für Socialpolitik / German Economic Association.
    69. David Aikman & Jonathan Bridges & Anil Kashyap & Caspar Siergert, 2018. "Would macroprudential regulation have prevented the last crisis?," Bank of England working papers 747, Bank of England.
    70. Jonathan Kearns & Mike Major & David Norman, 2021. "How Risky Is Australian Household Debt?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 54(3), pages 313-330, September.
    71. Issam Samiri, 2021. "Macroeconomic Effects of Firms' Underspending in Times of Abundant Credit," BCAM Working Papers 2102, Birkbeck Centre for Applied Macroeconomics.
    72. Yıldırım Mustafa Ozan & Yıldırım Ahmet Eren, 2017. "The Influence of Consumption and Investment on Unemployment in Turkey: A Svar Approach," Ekonomika (Economics), Sciendo, vol. 96(1), pages 74-92, January.
    73. Peter H. Egger & Johannes Schwarzer & Anirudh Shingal, 2018. "Labour market effects of currency appreciation: The case of Switzerland," RSCAS Working Papers 2018/30, European University Institute.
    74. Martin Gächter & Martin Geiger & Florentin Glötzl & Helene Schuberth, 2015. "Sectoral Deleveraging in Europe and Its Economic Implications," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 8-23.
    75. Tao Zha & Jianjun Miao & Zheng Liu, 2015. "Land Prices and Unemployment," 2015 Meeting Papers 1118, Society for Economic Dynamics.
    76. Megha Patnaik, 2017. "The Impact of Credit Shocks: Micro versus Small Firms," Discussion Papers 17-06, Indian Statistical Institute, Delhi.
    77. Atif R. Mian, 2013. "Monetary policy and macro-prudential regulation: the risk-sharing paradigm," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 16(2), pages 54-66, August.
    78. Andersson, Fredrik & Mayock, Tom, 2015. "The microdynamics of household credit use through a boom–bust cycle," Journal of Housing Economics, Elsevier, vol. 27(C), pages 22-36.
    79. Vyacheslav Mikhed & Barry Scholnick, 2016. "The Causes of Household Bankruptcy: The Interaction of Income Shocks and Balance Sheets," Working Papers 16-19, Federal Reserve Bank of Philadelphia.
    80. Michael Siemer, 2014. "Firm Entry and Employment Dynamics in the Great Recession," Finance and Economics Discussion Series 2014-56, Board of Governors of the Federal Reserve System (U.S.).
    81. Martin Harding & Mathias Klein, 2022. "Monetary policy and household net worth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 125-151, April.
    82. Laamanen, Jani-Petri, 2013. "Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation," MPRA Paper 55256, University Library of Munich, Germany.
    83. Schlegel, Jonas & Watzka, Sebastian, 2016. "The Effect of the Household Balance Sheet on Unemployment – Evidence from Spanish Provinces," VfS Annual Conference 2016 (Augsburg): Demographic Change 145911, Verein für Socialpolitik / German Economic Association.
    84. Iva Tomić, 2014. "Regional matching (in)efficiency on the Croatian labour market," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 64(3), pages 287-312, September.
    85. Kahle, Kathleen M. & Stulz, René M., 2013. "Access to capital, investment, and the financial crisis," Journal of Financial Economics, Elsevier, vol. 110(2), pages 280-299.
    86. Witold Małecki, 2016. "Finansjalizacja cykli koniunkturalnych i jej konsekwencje dla polityki stabilizacyjnej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 4, pages 47-68.

  23. Atif Mian & Amir Sufi & Francesco Trebbi, 2011. "Foreclosures, House Prices, and the Real Economy," IMES Discussion Paper Series 11-E-27, Institute for Monetary and Economic Studies, Bank of Japan.

    Cited by:

    1. Caloia, Francesco G., 2024. "Borrower-based measures, house prices and household debt," Journal of International Money and Finance, Elsevier, vol. 143(C).
    2. Autor, David & Dorn, David & Hanson, Gordon & Majlesi, Kaveh, 2016. "Importing Political Polarization? The Electoral Consequences of Rising Trade Exposure," Working Papers 2016:21, Lund University, Department of Economics.
    3. Zhimin Li & Leslie Sheng Shen & Calvin Zhang, 2020. "Capital Flows, Asset Prices, and the Real Economy: A "China Shock" in the U.S. Real Estate Market," International Finance Discussion Papers 1286, Board of Governors of the Federal Reserve System (U.S.).
    4. Rajan, Uday & Seru, Amit & Vig, Vikrant, 2015. "The failure of models that predict failure: Distance, incentives, and defaults," Journal of Financial Economics, Elsevier, vol. 115(2), pages 237-260.
    5. Fabiano Schivardi & Enrico Sette & Guido Tabellini, 2017. "Credit Misallocation During the European Financial Crisis," BAFFI CAREFIN Working Papers 1753, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    6. Saadi, Vahid, 2016. "Mortgage supply and the US housing boom: The role of the community reinvestment act," IWH Discussion Papers 32/2016, Halle Institute for Economic Research (IWH).
    7. Qian, Wei, 2023. "House price expectations and household consumption," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    8. Alaina Barca & Larry Santucci & Leigh-Ann Schultz, 2022. "Foreclosure Kids: Examining the Early Adult Credit Usage of Adolescents Affected by Foreclosure," Working Papers 22-21, Federal Reserve Bank of Philadelphia.
    9. Ha, Jongrim & Kose, M. Ayhan & Otrok, Christopher & Prasad, Eswar, 2020. "Global Macro-Financial Cycles and Spillovers," IZA Discussion Papers 13000, IZA Network @ LISER.
    10. Mu Lin & Jingxin Gao & Yongjie Du & Pengyu Ren, 2023. "Mismatch in Urban Construction Land Use and Economic Growth: Empirical Evidence from China," Land, MDPI, vol. 12(2), pages 1-21, February.
    11. Aiello, Darren & Bernstein, Asaf & Kargar, Mahyar & Lewis, Ryan & Schwert, Michael, 2025. "The marginal value of public pension wealth: Evidence from border house prices," Journal of Financial Economics, Elsevier, vol. 172(C).
    12. Rebecca Diamond & Adam Guren & Rose Tan, 2020. "The Effect of Foreclosures on Homeowners, Tenants, and Landlords," NBER Working Papers 27358, National Bureau of Economic Research, Inc.
    13. Jihad Dagher & Yangfan Sun, 2014. "Borrower Protection and the Supply of Credit: Evidence from Foreclosure Laws," IMF Working Papers 2014/212, International Monetary Fund.
    14. Yilan Xu, 2020. "Foreclosed American Dream? Parental Foreclosure and Young Adult Children’s Homeownership," Journal of Family and Economic Issues, Springer, vol. 41(3), pages 458-471, September.
    15. Joshua Aizenman & Yothin Jinjarak & Huanhuan Zheng, 2019. "Housing Bubbles, Economic Growth, and Institutions," Open Economies Review, Springer, vol. 30(4), pages 655-674, September.
    16. Chu, Yongqiang, 2018. "Banking deregulation and credit supply: Distinguishing the balance sheet and the competition channels," Journal of Financial Intermediation, Elsevier, vol. 35(PA), pages 102-119.
    17. Qin, Fei & Ma, Meilin, 2022. "Unit Pricing Regulation and Non-Price Responses of Retailers: Evidence from the U.S. Yogurt Market," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322243, Agricultural and Applied Economics Association.
    18. Richard Chamboko & Jorge Miguel Bravo, 2020. "A Multi-State Approach to Modelling Intermediate Events and Multiple Mortgage Loan Outcomes," Risks, MDPI, vol. 8(2), pages 1-29, June.
    19. Dzsamila Vonnak, 2015. "Decomposing the Riskiness of Corporate Foreign Currency Lending: the Case of Hungary," KRTK-KTI WORKING PAPERS 1528, Institute of Economics, Centre for Economic and Regional Studies.
    20. Jiseob Kim, 2020. "How Unsecured Credit Policies Influence Mortgage and Unsecured Loan Defaults," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(5), pages 1271-1304, August.
    21. Quinn Curtis, 2014. "State Foreclosure Laws and Mortgage Origination in the Subprime," The Journal of Real Estate Finance and Economics, Springer, vol. 49(3), pages 303-328, October.
    22. Xavier Giroud & Holger M. Mueller, 2017. "Firms' Internal Networks and Local Economic Shocks," NBER Working Papers 23176, National Bureau of Economic Research, Inc.
    23. Cheng, Hua & Gawande, Kishore & Ongena, Steven & Qi, Shusen, 2021. "Connected banks and economic policy uncertainty," Journal of Financial Stability, Elsevier, vol. 56(C).
    24. Egle Jakucionyte & Swapnil Singh, 2020. "Bowling Alone, Buying Alone: The Decline of Co-Borrowers in the US Mortgage Market," Bank of Lithuania Working Paper Series 78, Bank of Lithuania.
    25. Lerbs, Oliver & Teske, Markus, 2016. "The house price-vacancy curve," ZEW Discussion Papers 16-082, ZEW - Leibniz Centre for European Economic Research.
    26. Barile, Lory & Guin, Benjamin & Sandi, Eleni, 2025. "House price externalities of a Minimum Energy Effciency Standard (MEES)," The Warwick Economics Research Paper Series (TWERPS) 1562, University of Warwick, Department of Economics.
    27. Xavier Giroud & Holger M. Mueller, 2016. "Redistribution of Local Labor Market Shocks through Firms’ Internal Networks," NBER Working Papers 22396, National Bureau of Economic Research, Inc.
    28. Yoo, Jinhyuk, 2017. "Capital injection to banks versus debt relief to households," IMFS Working Paper Series 111, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    29. Yair Listokin, 2019. "A Theoretical Framework for Law and Macroeconomics," American Law and Economics Review, American Law and Economics Association, vol. 21(1), pages 46-80.
    30. Adam M. Guren & Arvind Krishnamurthy & Timothy J. McQuade, 2018. "Mortgage Design in an Equilibrium Model of the Housing Market," NBER Working Papers 24446, National Bureau of Economic Research, Inc.
    31. Wagner, Wolf & Bongaerts, Dion & Mazzola, Francesco, 2021. "Fire Sale Risk and Credit," CEPR Discussion Papers 15798, Centre for Economic Policy Research.
    32. Xiaoying Deng & Chong Liu & Seow Eng Ong, 2024. "Shadow Bank, Risk-Taking, and Real Estate Financing: Evidence from the Online Loan Market," The Journal of Real Estate Finance and Economics, Springer, vol. 68(1), pages 1-27, January.
    33. Sumit Agarwal & Gene Amromin & Itzhak Ben-David & Souphala Chomsisengphet & Tomasz Piskorski & Amit Seru, 2013. "Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program," Working Paper Series WP-2013-27, Federal Reserve Bank of Chicago.
    34. Dirk Krueger, 2012. "Housing and the Macroeconomy: The Role of Bailout Guarantees for Government Sponsored Enterprises," 2012 Meeting Papers 102, Society for Economic Dynamics.
    35. Stockhammer, Engelbert & Wildauer, Rafael, 2017. "Expenditure Cascades, Low Interest Rates or Property Booms? Determinants of Household Debt in OECD countries," Greenwich Papers in Political Economy 18276, University of Greenwich, Greenwich Political Economy Research Centre.
    36. Aidong Adam Ding & Shaonan Tian & Yan Yu & Xinlei Zhao, 2022. "Does judicial foreclosure procedure help delinquent subprime mortgage borrowers?," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 19(2), pages 382-422, June.
    37. Soyoung Lee, 2023. "The Macroeconomic Effects of Debt Relief Policies During Recessions," Staff Working Papers 23-48, Bank of Canada.
    38. Gene Amromin & Jennifer Huang & Clemens Sialm & Edward Zhong, 2018. "Complex Mortgages [Why don’t lenders renegotiate more home mortgages? Redefaults, self-cures, and securitization]," Review of Finance, European Finance Association, vol. 22(6), pages 1975-2007.
    39. Yun K. Kim, 2020. "Household Debt Accumulation and the Great Recession of the United States: A Comparative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(1), pages 26-49, March.
    40. Piero Montebruno & Olmo Silva & Nikodem Szumilo, 2021. "Judge Dread: court severity, repossession risk and demand in mortgage and housing markets," CEP Discussion Papers dp1766, Centre for Economic Performance, LSE.
    41. Huo, Zhen, 2016. "Financial Frictions, Asset Prices, and the Great Recession," CEPR Discussion Papers 11544, Centre for Economic Policy Research.
    42. Mauricio Villamizar‐Villegas & Freddy A. Pinzon‐Puerto & Maria Alejandra Ruiz‐Sanchez, 2022. "A comprehensive history of regression discontinuity designs: An empirical survey of the last 60 years," Journal of Economic Surveys, Wiley Blackwell, vol. 36(4), pages 1130-1178, September.
    43. Therese C. Scharlemann & Stephen H. Shore, 2022. "The effect of changing mortgage payments on default and prepayment: Evidence from HAMP resets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(5), pages 1231-1256, September.
    44. Kelly, Robert & McCann, Fergal, 2015. "Some defaults are deeper than others: Understanding long-term mortgage arrears," Research Technical Papers 05/RT/15, Central Bank of Ireland.
    45. Jennifer Brown & David A. Matsa, 2016. "Locked in by Leverage: Job Search during the Housing Crisis," NBER Working Papers 22929, National Bureau of Economic Research, Inc.
    46. Dagher, Jihad & Sun, Yangfan, 2016. "Borrower protection and the supply of credit: Evidence from foreclosure laws," Journal of Financial Economics, Elsevier, vol. 121(1), pages 195-209.
    47. Zhu, Haikun, 2018. "Essays on political economy of finance and fintech," Other publications TiSEM 93f94423-e671-4041-bb24-8, Tilburg University, School of Economics and Management.
    48. Mandi Xu & Hefan Zheng & Jing Wu, 2024. "Are Online-Only Real Estate Marketplaces Viable? Evidence from China," The Journal of Real Estate Finance and Economics, Springer, vol. 68(4), pages 583-623, May.
    49. Gerardi, Kristopher & Lambie-Hanson, Lauren & Willen, Paul S., 2013. "Do borrower rights improve borrower outcomes? Evidence from the foreclosure process," Journal of Urban Economics, Elsevier, vol. 73(1), pages 1-17.
    50. Marcus T. Allen & Justin D. Benefield & Christopher L. Cain & Norman Maynard, 2024. "Distressed Property Sales: Differences and Similarities Across Types of Distress," The Journal of Real Estate Finance and Economics, Springer, vol. 68(2), pages 318-353, February.
    51. Manconi, Alberto & Braggion, Fabio & Zhu, Haikun, 2018. "Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China," CEPR Discussion Papers 12668, Centre for Economic Policy Research.
    52. Adam M. Guren & Timothy J. McQuade, 2019. "How Do Foreclosures Exacerbate Housing Downturns?," NBER Working Papers 26216, National Bureau of Economic Research, Inc.
    53. William Hedberg & John Krainer, 2012. "Housing supply and foreclosures," Working Paper Series 2012-20, Federal Reserve Bank of San Francisco.
    54. Sumit Agarwal & Michael J. Seiler & Ralph Siebert, 2022. "Do as Essay, Not as I Do? How Inflated List Prices of Unsold Essayer Homes Affect the Price Discovery Process," CESifo Working Paper Series 10069, CESifo.
    55. Jardim, Ekaterina & Long, Mark C. & Plotnick, Robert & Vigdor, Jacob & Wiles, Emma, 2024. "Local minimum wage laws, boundary discontinuity methods, and policy spillovers," Journal of Public Economics, Elsevier, vol. 234(C).
    56. Sá, Ana Isabel, 2023. "Recourse restrictions and judicial foreclosures: Effects of mortgage law on loan price and collateralization," International Review of Law and Economics, Elsevier, vol. 75(C).
    57. Piskorski, Tomasz & Seru, Amit, 2021. "Debt relief and slow recovery: A decade after Lehman," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1036-1059.
    58. Mueller, Holger & Giroud, Xavier, 2016. "Redistribution of Local Demand Shocks through Firms' Internal Networks," CEPR Discussion Papers 11384, Centre for Economic Policy Research.
    59. Hadiye Aslan, 2022. "Personal Financial Distress, Limited Attention," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 60(1), pages 97-128, March.
    60. Colleen Honigsberg & Sharon P. Katz & Sunay Mutlu & Gil Sadka, 2021. "State contract law and the use of accounting information in debt contracts," Review of Accounting Studies, Springer, vol. 26(1), pages 124-171, March.
    61. Vincent Yao & Tomasz Piskorski & Amit Seru & Benjamin Keys, 2015. "Mortgage Rates, Household Balance Sheets, and the Real Economy," 2015 Meeting Papers 705, Society for Economic Dynamics.
    62. Martin C. Arnold & Thilo Reinschlussel, 2024. "Bootstrap Adaptive Lasso Solution Path Unit Root Tests," Papers 2409.07859, arXiv.org.
    63. Tzu-Ting Yang, 2016. "Family Labor Supply and the Timing of Cash Transfers: Evidence from the Earned Income Tax Credit," IEAS Working Paper : academic research 16-A012, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    64. Taejun Lim, 2018. "Housing as Collateral, Financial Constraints, and Small Businesses," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 68-85, October.
    65. Lawrence R. Cordell & Liang Geng & Laurie Goodman & Lidan Yang, 2013. "The cost of delay," Working Papers 13-15, Federal Reserve Bank of Philadelphia.
    66. David H. Autor & Christopher J. Palmer & Parag A. Pathak, 2014. "Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts," Journal of Political Economy, University of Chicago Press, vol. 122(3), pages 661-717.
    67. Chernick, Howard & Reschovsky, Andrew & Newman, Sandra, 2021. "The effect of the housing crisis on the finances of central cities," Journal of Housing Economics, Elsevier, vol. 54(C).
    68. Anna Pestova & Alexander Popov, 2026. "Housing Bust and Long-Term Human Capital Scarring in the U.S," CERGE-EI Working Papers wp817, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    69. Milonas, Kristoffer, 2017. "The effect of foreclosure laws on securitization: Evidence from U.S. states," Journal of Financial Stability, Elsevier, vol. 33(C), pages 1-22.
    70. Blickle, Kristian, 2022. "Local banks, credit supply, and house prices," Journal of Financial Economics, Elsevier, vol. 143(2), pages 876-896.
    71. Tingyu Zhou & John M Clapp & Ran Lu‐Andrews, 2022. "Examining omitted variable bias in anchoring premium estimates: Evidence based on assessed value," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(3), pages 789-828, September.
    72. Kyle F. Herkenhoff & Lee E. Ohanian, 2015. "The Impact of Foreclosure Delay on U.S. Employment," NBER Working Papers 21532, National Bureau of Economic Research, Inc.
    73. Atif R. Mian & Amir Sufi, 2018. "Finance and Business Cycles: The Credit-Driven Household Demand Channel," NBER Working Papers 24322, National Bureau of Economic Research, Inc.
    74. Atif R. Mian & Amir Sufi & Francesco Trebbi, 2012. "Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises," NBER Working Papers 17831, National Bureau of Economic Research, Inc.
    75. Chang, Yuk Ying & Anderson, Hamish & Shi, Song, 2018. "China and international housing price growth," China Economic Review, Elsevier, vol. 50(C), pages 294-312.
    76. Pintus, P. A. & Jacek Suda, 2013. "Learning Leverage Shocks and the Great Recession," Working papers 440, Banque de France.
    77. Erik Hurst & Benjamin J. Keys & Amit Seru & Joseph Vavra, 2016. "Regional Redistribution through the US Mortgage Market," American Economic Review, American Economic Association, vol. 106(10), pages 2982-3028, October.
    78. Wang, Lei & Li, Shouwei & Wang, Jining & Meng, Yi, 2020. "Real estate bubbles in a bank-real estate loan network model integrating economic cycle and macro-prudential stress testing," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 542(C).
    79. Hiller, Norbert & Lerbs, Oliver W., 2016. "Aging and urban house prices," Regional Science and Urban Economics, Elsevier, vol. 60(C), pages 276-291.
    80. Jeske, Karsten & Krueger, Dirk & Mitman, Kurt, 2013. "Housing, mortgage bailout guarantees and the macro economy," Journal of Monetary Economics, Elsevier, vol. 60(8), pages 917-935.
    81. Jeffrey P. Cohen & Cletus C. Coughlin & Vincent W. Yao, 2016. "Sales of Distressed Residential Property: What Have We Learned from Recent Research?," Review, Federal Reserve Bank of St. Louis, vol. 98(3), pages 159-188.
    82. Matthieu Chavaz, 2016. "Dis-integrating credit markets: diversification, securitization, and lending in a recovery," Bank of England working papers 617, Bank of England.
    83. Will Dobbie & Jae Song, 2016. "Debt Relief or Debt Restructuring? Evidence from an Experiment with Distressed Credit Card Borrowers," Working Papers 599, Princeton University, Department of Economics, Industrial Relations Section..
    84. Rohan Ganduri & Steven Chong Xiao & Serena Wenjing Xiao, 2023. "Tracing the source of liquidity for distressed housing markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(2), pages 408-440, March.
    85. Brunner, Eric J. & Hoen, Ben & Rand, Joe & Schwegman, David, 2024. "Commercial wind turbines and residential home values: New evidence from the universe of land-based wind projects in the United States," Energy Policy, Elsevier, vol. 185(C).
    86. Alin Marius Andries & Anca Copaciu & Radu Popa & Razvan Vlahu, 2021. "Recourse and (strategic) mortgage defaults: Evidence from changes in housing market laws," Working Papers 727, DNB.
    87. Kerr, Sari Pekkala & Kerr, William R. & Nanda, Ramana, 2022. "House prices, home equity and entrepreneurship: Evidence from U.S. census micro data," Journal of Monetary Economics, Elsevier, vol. 130(C), pages 103-119.
    88. Xavier Giroud & Holger M. Mueller, 2017. "Redistribution of Local Labor Market Shocks through Firms’ Internal Networks," Working Papers 17-03, Center for Economic Studies, U.S. Census Bureau.
    89. Bashir Ahmad Joo & Simtiha Ishaq Mir, 2024. "Evolution of the Household Debt Narrative: A PRISMA-compliant Systematic Literature Review," Paradigm, , vol. 28(1), pages 84-100, June.
    90. Nikolaos Antonakakis & Ioannis Chatziantoniou & David Gabauer, 2021. "A regional decomposition of US housing prices and volume: market dynamics and Portfolio diversification," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 66(2), pages 279-307, April.
    91. Albanesi, Stefania & DeGiorgi, Giacomo & Nosal, Jaromir, 2022. "Credit growth and the financial crisis: A new narrative," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 118-139.
    92. Wong, Francis & Kermani, Amir, 2022. "Racial Disparities in Housing Returns," VfS Annual Conference 2022 (Basel): Big Data in Economics 264099, Verein für Socialpolitik / German Economic Association.
    93. Saengchote, Kanis, 2024. "Developers’ leverage, capital market financing, and fire sale externalities✰," Finance Research Letters, Elsevier, vol. 63(C).
    94. Geoffrey K. Turnbull & Arno J. van der Vlist, 2024. "Foreclosures and housing prices: does neighborhood configuration matter?," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 72(2), pages 407-433, February.
    95. Michele Loberto, 2021. "Foreclosures and house prices," Temi di discussione (Economic working papers) 1325, Bank of Italy, Economic Research and International Relations Area.
    96. Fanelli, Sebastián & Gonzalez-Eiras, Martín, 2021. "Resolution of financial crises," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    97. Schuetz, Jenny & Spader, Jonathan & Cortes, Alvaro, 2016. "Have distressed neighborhoods recovered? Evidence from the neighborhood stabilization program," Journal of Housing Economics, Elsevier, vol. 34(C), pages 30-48.
    98. Stephen L. Ross & Yuan Wang, 2022. "Mortgage Lenders and the Geographic Concentration of Foreclosures," Working Papers 2022-001, Human Capital and Economic Opportunity Working Group.
    99. Surico, Paolo & Cloyne, James & Ferreira, Clodomiro, 2015. "Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism," CEPR Discussion Papers 11023, Centre for Economic Policy Research.
    100. Damian Damianov & Cheng Yan & Xiangdong Wang, 2018. "Measures of mortgage default risk and local house price dynamics ," ERES eres2018_163, European Real Estate Society (ERES).
    101. Arnab Biswas & Hamilton Fout & Anthony Pennington-Cross, 2023. "Mortgage Losses under Alternative Property Disposition Approaches: Deed-in-Lieu, Short Sales, and Foreclosure Sales," The Journal of Real Estate Finance and Economics, Springer, vol. 66(3), pages 603-635, April.
    102. Rogers, William H. & Winkler, Anne E., 2013. "The Relationship between the Housing & Labor Market Crises and Doubling-Up: An MSA-Level Analysis, 2005-2010," IZA Discussion Papers 7263, IZA Network @ LISER.
    103. Xu, Yilan, 2014. "Does mortgage deregulation increase foreclosures? Evidence from Cleveland," Regional Science and Urban Economics, Elsevier, vol. 46(C), pages 126-139.
    104. Thom Malone & Christian L. Redfearn, 2022. "To measure globally, aggregate locally: Urban land, submarkets, and biased estimates of the housing stock," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(3), pages 656-671, September.
    105. Philip Cohen, 2014. "Recession and Divorce in the United States, 2008–2011," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 33(5), pages 615-628, October.
    106. Anthony Yezer, 2016. "Testing the Association between Foreclosure and Nearby House Values: Can Differences Deceive?," Working Papers 2016-29, The George Washington University, Institute for International Economic Policy.
    107. Artavanis, Nikolaos & Spyridopoulos, Ioannis, 2023. "Determinants of strategic behavior: Evidence from a foreclosure moratorium," Journal of Financial Intermediation, Elsevier, vol. 56(C).
    108. DeFusco, Anthony A. & Nathanson, Charles G. & Zwick, Eric, 2022. "Speculative dynamics of prices and volume," Journal of Financial Economics, Elsevier, vol. 146(1), pages 205-229.
    109. Jacob W. Faber & Peter M. Rich, 2018. "Financially Overextended: College Attendance as a Contributor to Foreclosures During the Great Recession," Demography, Springer;Population Association of America (PAA), vol. 55(5), pages 1727-1748, October.
    110. Michael Minnis & Andrew Sutherland, 2017. "Financial Statements as Monitoring Mechanisms: Evidence from Small Commercial Loans," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(1), pages 197-233, March.
    111. Amir Kermani & Francis Wong, 2026. "Racial Disparities in Housing Returns," American Economic Review, American Economic Association, vol. 116(1), pages 287-331, January.
    112. Si, Deng-Kui & Wang, Meng & Yu, Yong, 2025. "Does the housing purchase restriction policy promote entrepreneurship? Evidence from China," China Economic Review, Elsevier, vol. 90(C).
    113. Kurt Mitman, 2012. "Macroeconomic Effects of Bankruptcy and Foreclosure Policies," 2012 Meeting Papers 563, Society for Economic Dynamics.
    114. Sabine Winkler, 2017. "Housing, Finance, Policy and the Wider Economy," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 7(2), pages 45-64, June.
    115. Sebastián Fanelli & Martín Gonzalez-Eiras, 2021. "Resolution of Final Crises," Working Papers wp2021_2113, CEMFI.
    116. Cheol Eun & Lingling Wang & Tim Zhang, 2022. "House Price Growth Synchronization and Business Cycle Alignment," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 675-710, November.
    117. Nam, Tong-yob & Oh, Seungjoon, 2021. "Non-recourse mortgage law and housing speculation," Journal of Banking & Finance, Elsevier, vol. 133(C).
    118. Hua Cheng & Kishore Gawande & Steven Ongena & Shusen Qi, 2020. "Get beyond policy uncertainty: Evidence from political connections," Swiss Finance Institute Research Paper Series 20-77, Swiss Finance Institute.
    119. Steven J. Davis & John C. Haltiwanger, 2019. "Dynamism Diminished: The Role of Housing Markets and Credit Conditions," NBER Working Papers 25466, National Bureau of Economic Research, Inc.
    120. James Alm & J. Sebastian Leguizamon, 2018. "The Housing Crisis, Foreclosures, and Local Tax Revenues," Working Papers 1803, Tulane University, Department of Economics.
    121. Saadi, Vahid, 2019. "Mortgage supply and the US housing boom: The role of the Community Reinvestment Act," SAFE Working Paper Series 155, Leibniz Institute for Financial Research SAFE, revised 2019.
    122. Charters, Thomas J. & Harper, Sam & Strumpf, Erin C. & Subramanian, S.V. & Arcaya, Mariana & Nandi, Arijit, 2016. "The effect of metropolitan-area mortgage delinquency on health behaviors, access to health services, and self-rated health in the United States, 2003–2010," Social Science & Medicine, Elsevier, vol. 161(C), pages 74-82.
    123. Anthony Yezer & Yishen Liu, 2017. "Can Differences Deceive? The Case of “Foreclosure Externalities"," Working Papers 2017-29, The George Washington University, Institute for International Economic Policy.
    124. Kanis Saengchote, 2023. "Developers' Leverage, Capital Market Financing, and Fire Sale Externalities Evidence from the Thai Condominium Market," Papers 2312.05013, arXiv.org.
    125. Ganduri, Rohan & Maturana, Gonzalo, 2024. "Do property rehabs affect neighboring property prices?," Journal of Urban Economics, Elsevier, vol. 143(C).
    126. Hongxia Zhang & Heeho Kim, 2024. "Urbanization and the excess mortgage risk – an optimal mortgage model," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-10, December.
    127. John Y. Campbell, 2012. "Mortgage Market Design," NBER Working Papers 18339, National Bureau of Economic Research, Inc.
    128. Jean-Pierre Dubé & Günter J. Hitsch & Peter E. Rossi, 2018. "Income and Wealth Effects on Private-Label Demand: Evidence from the Great Recession," Marketing Science, INFORMS, vol. 37(1), pages 22-53, January.
    129. Sandi, Eleni, 2023. "Estimating the Impact of the Minimum Energy Efficiency Standard on Property Prices," Warwick-Monash Economics Student Papers 47, Warwick Monash Economics Student Papers.
    130. Yilmazer, Tansel & Babiarz, Patryk & Liu, Fen, 2015. "The impact of diminished housing wealth on health in the United States: Evidence from the Great Recession," Social Science & Medicine, Elsevier, vol. 130(C), pages 234-241.
    131. Simlai, Prodosh, 2019. "Subprime credit, idiosyncratic risk, and foreclosures," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 175-189.
    132. John M. Clapp & Ran Lu‐Andrews & Tingyu Zhou, 2020. "Anchoring to Purchase Price and Fundamentals: Application of Salience Theory to Housing Cycle Diagnosis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(4), pages 1274-1317, December.
    133. Stanley Fischer, 2017. "Housing and Financial Stability : a speech at the DNB-Riksbank Macroprudential Conference Series, Amsterdam, Netherlands, June 20, 2017," Speech 956, Board of Governors of the Federal Reserve System (U.S.).
    134. Gazi I. Kara & Youngsuk Yook, 2023. "Policy Uncertainty and Bank Mortgage Credit," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 783-823, June.
    135. Joshua Aizenman & Yothin Jinjarak & Huanhuan Zheng, 2016. "House Valuations and Economic Growth: Some International Evidence," NBER Working Papers 22699, National Bureau of Economic Research, Inc.
    136. Yishen Liu & Anthony M. Yezer, 2021. "Foreclosure Externalities: Have We Confused the Cure with the Disease?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(S2), pages 428-460, September.
    137. David Berger & Nicholas Turner & Eric Zwick, 2016. "Stimulating Housing Markets," NBER Working Papers 22903, National Bureau of Economic Research, Inc.
    138. Gene Amromin & Caitlin Kearns, 2014. "Access to Refinancing and Mortgage Interest Rates: HARPing on the Importance of Competition," Working Paper Series WP-2014-25, Federal Reserve Bank of Chicago.
    139. Jennifer Lewis Buell & Kimberly Burnett & Larry Buron & Alvaro Cortes & Michael DiDomenico & Anna Jefferson & Christian Redfearn & Jenny Schuetz & Jonathan Spader & Stephen Whitlow, 2015. "Which Way to Recovery? Housing Market Outcomes and the Neighborhood Stabilization Program," Finance and Economics Discussion Series 2015-4, Board of Governors of the Federal Reserve System (U.S.).
    140. Nikolaos Antonakakis & Ioannis Chatziantoniou & David Gabauer, 2019. "A Regional Decomposition of US Housing Prices and Volume: Market Dynamics and Economic Diversification Opportunities," Working Papers in Economics & Finance 2019-06, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    141. Makridis, Christos A., 2022. "The social transmission of economic sentiment on consumption," European Economic Review, Elsevier, vol. 148(C).
    142. Alessandro Sovera, 2025. "When Integration Backfires: Examining the Effects of Mandatory Inter-Municipal Cooperation on Local Housing Markets," Working Papers 40, Finnish Centre of Excellence in Tax Systems Research.
    143. Jean-Pierre Dubé & Günter J. Hitsch & Peter E. Rossi, 2015. "Income and Wealth Effects on Private-Label Demand: Evidence From the Great Recession," NBER Working Papers 21446, National Bureau of Economic Research, Inc.
    144. Andrew Linn & Ronan Lyons, 2019. "Three triggers? Negative equity, income shocks and institutions as determinants of mortgage default," Bank of England working papers 812, Bank of England.
    145. Biswas, Arnab & Cunningham, Chris & Gerardi, Kristopher & Sexton, Daniel, 2021. "Foreclosure externalities and Vacant Property Registration Ordinances," Journal of Urban Economics, Elsevier, vol. 123(C).
    146. Benjamin J. Keys & Tomasz Piskorski & Amit Seru & Vikrant Vig, 2012. "Mortgage Financing in the Housing Boom and Bust," NBER Chapters, in: Housing and the Financial Crisis, pages 143-204, National Bureau of Economic Research, Inc.
    147. Michael Ellington & Chris Florackis & Costas Milas, 2016. "Liquidity Shocks and Real GDP Growth: Evidence from a Bayesian Time-varying Parameter VAR," Working Paper series 16-28, Rimini Centre for Economic Analysis.
    148. Olsen, Edgar O. & Zabel, Jeffrey E., 2015. "US Housing Policy," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 887-986, Elsevier.
    149. Christos A. Makridis & Michael Ohlrogge, 2022. "Foreclosure spillovers and individual well‐being: Evidence from the Great Recession," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 122-146, March.
    150. Sehwa Kim, 2022. "Delays in Banks’ Loan Loss Provisioning and Economic Downturns: Evidence from the U.S. Housing Market," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 60(3), pages 711-754, June.
    151. Yuming Fu & Song Shi, 2022. "Barriers to urban spatial development: Evidence from the 2010–2011 Christchurch earthquakes," Journal of Regional Science, Wiley Blackwell, vol. 62(1), pages 218-245, January.
    152. Stuart A. Gabriel & Matteo Iacoviello & Chandler Lutz, 2020. "A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession," Finance and Economics Discussion Series 2020-053, Board of Governors of the Federal Reserve System (U.S.).
    153. Kishore, Kaushalendra & Kulkarni, Nirupama & Roy, Saurabh, 2025. "Zombie lending due to the fear of fire sales," Journal of Corporate Finance, Elsevier, vol. 91(C).
    154. Chen-Yin Lee & Pao-Huan Chen & Yen-Kuang Lin, 2021. "An Exploratory Study of the Association between Housing Price Trends and Antidepressant Use in Taiwan: A 10-Year Population-Based Study," IJERPH, MDPI, vol. 18(9), pages 1-17, April.
    155. Carlos Garriga & Aaron Hedlund, 2019. "Crises in the Housing Market: Causes, Consequences, and Policy Lessons," Working Papers 2019-33, Federal Reserve Bank of St. Louis.
    156. Philip Mulder & Yanjun Liao, 2024. "What’s at Stake? Understanding the Role of Home Equity in Flood Insurance Demand," Working Papers 24-06, Office of Financial Research, US Department of the Treasury.
    157. Chintal Desai & Gregory Elliehausen & Jevgenijs Steinbuks, 2013. "Effects of Bankruptcy Exemptions and Foreclosure Laws on Mortgage Default and Foreclosure Rates," The Journal of Real Estate Finance and Economics, Springer, vol. 47(3), pages 391-415, October.
    158. Chi-Wei SU & Zong-Liang YAO & Hsu-Ling CHANG, 2016. "The relationship between output and asset prices: A time – and frequency – varying approach," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(606), S), pages 57-76, Spring.
    159. Sheng Huang & Anjan V. Thakor, 2024. "Political Influence, Bank Capital, and Credit Allocation," Management Science, INFORMS, vol. 70(11), pages 8134-8162, November.
    160. Kanis Saengchote, 2023. "Developers’ Leverage, Capital Market Financing, and Fire Sale Externalities: Evidence from the Thai Condominium Market," PIER Discussion Papers 212, Puey Ungphakorn Institute for Economic Research.
    161. Joanne W. Hsu & David A. Matsa & Brian T. Melzer, 2014. "Positive Externalities of Social Insurance: Unemployment Insurance and Consumer Credit," NBER Working Papers 20353, National Bureau of Economic Research, Inc.

  24. Atif R. Mian & Amir Sufi, 2010. "Household Leverage and the Recession of 2007 to 2009," NBER Working Papers 15896, National Bureau of Economic Research, Inc.

    Cited by:

    1. Gropp, Reint E. & Krainer, John & Laderman, Elizabeth, 2014. "Did consumers want less debt? Consumer credit demand versus supply in the wake of the 2008-2009 financial crisis," SAFE Working Paper Series 42, Leibniz Institute for Financial Research SAFE.
    2. Òscar Jordà & Moritz HP. Schularick & Alan M. Taylor, 2013. "Sovereigns versus Banks: Credit, Crises, and Consequences," NBER Working Papers 19506, National Bureau of Economic Research, Inc.
    3. Mary A. Burke, 2014. "Rhode Island in the Great Recession: factors contributing to its sharp downturn and slow recovery," Current Policy Perspectives 14-9, Federal Reserve Bank of Boston.
    4. Baglan, Deniz & Ege Yazgan, M. & Yilmazkuday, Hakan, 2016. "Relative price variability and inflation: New evidence," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 263-282.
    5. Hamilton Fout & Nuno Mota & Eric Rosenblatt, 2022. "When Appraisers Go Low, Contracts Go Lower: The Impact of Expert Opinions on Transaction Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 65(3), pages 451-491, October.
    6. Luis Angeles, 2020. "Four Phases in the History of Money," Working Papers 2020_24, Business School - Economics, University of Glasgow.
    7. Tullio Jappelli & Luigi Pistaferri, 2014. "Fiscal Policy and MPC Heterogeneity," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(4), pages 107-136, October.
    8. Georges Dionne & Geneviève Gauthier & Khemais Hammami & Mathieu Maurice & Jean-Guy Simonato, 2010. "A Reduced Form Model of Default Spreads with Markov-Switching Macroeconomic Factors," Cahiers de recherche 1042, CIRPEE.
    9. Eleni Iliopulos & Thepthida Sopraseuth, 2011. "L'intermédiation financière dans l'analyse macroéconomique : le défi de la crise," Documents de travail du Centre d'Economie de la Sorbonne 11046, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    10. Jaison R. Abel & Richard Deitz, 2016. "Underemployment in the Early Careers of College Graduates Following the Great Recession," NBER Working Papers 22654, National Bureau of Economic Research, Inc.
    11. Atif Mian & Amir Sufi, 2010. "The Great Recession: Lessons from Microeconomic Data," American Economic Review, American Economic Association, vol. 100(2), pages 51-56, May.
    12. Ha Nguyen, 2017. "Demand-driven Propagation: Evidence from the Great Recession," 2017 Meeting Papers 397, Society for Economic Dynamics.
    13. Sumit Agarwal & Itzhak Ben-David & Vincent Yao, 2013. "Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market," NBER Working Papers 19606, National Bureau of Economic Research, Inc.
    14. David Aikman & Jonathan Bridges & Stephen Burgess & Richard Galletly & Iren Levina & Cian O'Neill & Alexandra Varadi, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.
    15. Zhang, Xuanyu & Fan, Xiaoyun, 2025. "The impact of household debt on the wealth distribution and inequality in China," China Economic Review, Elsevier, vol. 94(PC).
    16. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2012. "House prices, credit growth, and excess volatility: implications for monetary and macroprudential policy," Working Paper Series 2012-11, Federal Reserve Bank of San Francisco.
    17. Coen Teulings, 2014. "Unemployment and house price crises: Lessons for Fiscal Policy from the Dutch Recession," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 3(1), pages 1-19, December.
    18. Laura Jaramillo & Alexandre Chailloux, 2015. "It’s Not All Fiscal: Effects of Income, Fiscal Policy, and Wealth on Private Consumption," IMF Working Papers 2015/112, International Monetary Fund.
    19. Carter, Justin & Moore, Winston & Jackman, Mahalia, 2012. "Is the Magnitude of Household Debt in Barbados a Concern?," MPRA Paper 47791, University Library of Munich, Germany.
    20. Dimitris Christelis & Michael Ehrmann & Dimitris Georgarakos, 2015. "Exploring Differences in Household Debt Across Euro Area Countries and the United States," Staff Working Papers 15-16, Bank of Canada.
    21. Marco J. Lombardi & Madhusudan Mohanty & Ilhyock Shim, 2022. "The relationship of household debt and growth in the short and long run," Empirical Economics, Springer, vol. 63(4), pages 1887-1911, October.
    22. Rafiq, Shuddhasattwa, 2020. "Projecting post-crisis house and equity prices since the 1870s:not all crises are alike," MPRA Paper 103164, University Library of Munich, Germany.
    23. Andreas Fuster & Benedict Guttman-Kenney & Andrew F. Haughwout, 2018. "Tracking and stress-testing U.S. household leverage," Economic Policy Review, Federal Reserve Bank of New York, issue 24-1, pages 35-63.
    24. Janet Currie & Erdal Tekin, 2011. "Is there a Link Between Foreclosure and Health?," NBER Working Papers 17310, National Bureau of Economic Research, Inc.
    25. Nicholas Kacher & Luke Petach, 2021. "Boon or Burden? Evaluating the Competing Effects of House-Price Shocks on Regional Entrepreneurship," Economic Development Quarterly, , vol. 35(4), pages 287-304, November.
    26. Joachim Keller, 2011. "The BCBS proposal for a countercyclical capital buffer : an application to Belgium," Financial Stability Review, National Bank of Belgium, vol. 9(1), pages 121-132, June.
    27. Javier Andrés & José Boscá & Francisco Ferri, 2012. "Household leverage and fiscal multipliers," Working Papers 1215, Banco de España.
    28. Kartik Athreya, 2014. "Labor Market Upheaval, Default Regulations, and Consumer Debt," 2014 Meeting Papers 273, Society for Economic Dynamics.
    29. Alessandra Fogli & Enoch Hill & Fabrizio Perri, 2012. "The Geography of the Great Recession," NBER Chapters, in: NBER International Seminar on Macroeconomics 2012, pages 305-331, National Bureau of Economic Research, Inc.
    30. Karpestam, Peter & Johansson, Sebastian, 2019. "Interest-only-mortgages and housing market fluctuations in Denmark," Journal of Housing Economics, Elsevier, vol. 46(C).
    31. Oscar Jorda & Moritz HP. Schularick & Alan M. Taylor, 2012. "When Credit Bites Back: Leverage, Business Cycles and Crises," Working Papers Series 20, Institute for New Economic Thinking.
    32. Herwartz, Helmut & Ochsner, Christian & Rohloff, Hannes, 2026. "How do credit supply conditions transmit across the globe?," Journal of International Money and Finance, Elsevier, vol. 161(C).
    33. Taejun Lim, 2018. "Housing as Collateral, Financial Constraints, and Small Businesses," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 68-85, October.
    34. Nebiye Yamak & Sinem Kocak & Fatma Kolcu, 2016. "Causal Relationship Between Relative Price Variability and Inflation in Turkey: Evidence from Panel Data," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 19(61), pages 193-210, September.
    35. Jappelli, Tullio & Christelis, Dimitris & Georgarakos, Dimitris & Van Rooij, Maarten & Pistaferri, Luigi, 2017. "Asymmetric Consumption Effects of Transitory Income Shocks," CEPR Discussion Papers 12025, Centre for Economic Policy Research.
    36. Atif R. Mian & Amir Sufi & Francesco Trebbi, 2012. "Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises," NBER Working Papers 17831, National Bureau of Economic Research, Inc.
    37. Dimitris Christelis & Michael Ehrmann & Dimitris Georgarakos, 2017. "Exploring Differences in Household Debt Across the United States and Euro Area Countries," CSEF Working Papers 465, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    38. Atif R. Mian & Amir Sufi, 2012. "What explains high unemployment? The aggregate demand channel," NBER Working Papers 17830, National Bureau of Economic Research, Inc.
    39. H. Evren Damar & Reint Gropp & Adi Mordel, 2014. "Banks’ Financial Distress, Lending Supply and Consumption Expenditure," Staff Working Papers 14-7, Bank of Canada.
    40. Goel, Anand M. & Song, Fenghua & Thakor, Anjan V., 2014. "Correlated leverage and its ramifications," Journal of Financial Intermediation, Elsevier, vol. 23(4), pages 471-503.
    41. Amir Sufi, 2012. "Commentary: redistributive monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 385-396.
    42. Atif R. Mian & Amir Sufi, 2015. "Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005," NBER Working Papers 20947, National Bureau of Economic Research, Inc.
    43. Angeles, Luis, 2015. "A note on debt and economic activity," Economics Letters, Elsevier, vol. 136(C), pages 67-69.
    44. Romain Duval & Davide Furceri, 2018. "The Effects of Labor and Product Market Reforms: The Role of Macroeconomic Conditions and Policies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(1), pages 31-69, March.
    45. Jensen, Henrik & Ravn, Søren Hove & Santoro, Emiliano, 2016. "Deepening Contractions and Collateral Constraints," CEPR Discussion Papers 11166, Centre for Economic Policy Research.
    46. Michael D. Carr & Arjun Jayadev, 2013. "Relative Income and Indebtedness: Evidence from Panel Data," Working Papers 2013_02, University of Massachusetts Boston, Economics Department.
    47. Atif Mian & Amir Sufi, 2010. "The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program," NBER Working Papers 16351, National Bureau of Economic Research, Inc.
    48. Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2013. "When Credit Bites Back," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(s2), pages 3-28, December.
    49. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    50. Zhang Wei-Bin, 2014. "Land Value and Rent Dynamics in an Integrated Walrasian General Equilibrium and Neoclassical Growth Theory," Scientific Annals of Economics and Business, Sciendo, vol. 61(2), pages 235-258, December.
    51. pengfei Wang & Tao Zha & Zheng Liu, 2012. "Land-Price Dynamics and Macroeconomic Fluctuations," 2012 Meeting Papers 85, Society for Economic Dynamics.
    52. Artur Tarassow, 2015. "Financial Investment Constraints. A Panel Threshold Application to German Firm Level Data," Macroeconomics and Finance Series 201405, University of Hamburg, Department of Socioeconomics.
    53. Atif Mian & Amir Sufi, 2011. "Consumers and the economy, part II: Household debt and the weak U.S. recovery," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jan18.
    54. Wolfram Berger & Friedrich Kissmer, 2013. "Monetary Policy and Asset Prices: When Cleaning Up Hits the Zero Lower Bound," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(3), pages 291-312, September.
    55. Cañizares Martínez, Carlos, 2025. "Dating housing booms fueled by credit: A Markov switching approach," Journal of Financial Stability, Elsevier, vol. 78(C).
    56. Timothy E. Dore & Traci L. Mach, 2019. "Marketplace Lending and Consumer Credit Outcomes : Evidence from Prosper," Finance and Economics Discussion Series 2019-022, Board of Governors of the Federal Reserve System (U.S.).
    57. Christoph Gortz & John D. Tsoukalas, 2013. "Learning, Capital Embodied Technology and Aggregate Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(4), pages 708-723, October.
    58. Saghir Pervaiz Ghauri & Rizwan Raheem Ahmed & Jolita Vveinhardt & Dalia Streimikiene, 2017. "Estimation of Relationship between Inflation and Relative Price Variability: Granger Causality and ARDL Modelling Approach," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(44), pages 249-249, February.
    59. Tianbao Zhou & Zhixin Liu & Yingying Xu, 2024. "Characterizing Public Debt Cycles: Don't Ignore the Impact of Financial Cycles," Papers 2404.17412, arXiv.org.
    60. Wix, Carlo & Schüwer, Ulrich, 2016. "Monetary Policy and Bank Lending: A Natural Experiment from the US Mortgage Market," VfS Annual Conference 2016 (Augsburg): Demographic Change 145943, Verein für Socialpolitik / German Economic Association.
    61. Wei-Bin Zhang, 2018. "Business Cycles In A General Equilibrium Dynamic Model With Land Value And Rent," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 63(216), pages 7-34, January –.
    62. Melesse, Wondemhunegn Ezezew, 2020. "Determinants of debt ratio levels among small-scale manufacturing enterprises in Ethiopia: Do government policies matter?," MPRA Paper 103240, University Library of Munich, Germany.
    63. Yilmazer, Tansel & Babiarz, Patryk & Liu, Fen, 2015. "The impact of diminished housing wealth on health in the United States: Evidence from the Great Recession," Social Science & Medicine, Elsevier, vol. 130(C), pages 234-241.
    64. Samba Mbaye & Ms. Marialuz Moreno Badia & Kyungla Chae, 2018. "Bailing Out the People? When Private Debt Becomes Public," IMF Working Papers 2018/141, International Monetary Fund.
    65. Wei-Bin Zhang, 2015. "The Dynamics of Wealth, Environment and Land Value in a Three-Sector Growth Model," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 13(2), pages 197-228.
    66. Levitin, Adam & Wachter, Susan, 2012. "Explaining the Housing Bubble," MPRA Paper 41920, University Library of Munich, Germany.
    67. Roberto Álvarez & Luis Opazo, 2013. "Household Debt During the Financial Crisis: Micro-Evidence from Chile," Working Papers Central Bank of Chile 695, Central Bank of Chile.
    68. ZHANG Wei-Bin, 2015. "Values Of Land And Renewable Resources In A Three-Sector Economic Growth Model," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 10(1), pages 156-186, April.
    69. Amir Sufi, 2012. "Detecting "Bad" Leverage," NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 205-212, National Bureau of Economic Research, Inc.
    70. enoch hill & Fabrizio Perri & Alessandra Fogli, 2015. "Spatial Business Cycles," 2015 Meeting Papers 1356, Society for Economic Dynamics.
    71. Faria, João Ricardo & Wang, Le & Wu, Zhongmin, 2012. "Debts on debts," The North American Journal of Economics and Finance, Elsevier, vol. 23(2), pages 203-219.
    72. Danling Jiang & Sonya S Lim, 2018. "Trust and Household Debt [Consumer bankruptcy and default: the role of individual social capital]," Review of Finance, European Finance Association, vol. 22(2), pages 783-812.
    73. Nebiye Yamak & Sinem Kocak & Fatma Kolcu, 2016. "Causal Relationship Between Relative Price Variability and Inflation in Turkey:Evidence from Panel Data," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 19(60), pages 183-198, June.
    74. Alp Simsek & Anton Korinek, 2013. "Liquidity Trap and Excessive Leverage," 2013 Meeting Papers 1369, Society for Economic Dynamics.
    75. Javier Andrés & José E.Boscá & Javier Ferri, 2015. "Household Debt and Fiscal Multipliers," Working Papers 2015-01, FEDEA.
    76. Bechlioulis, Alexandros & Brissimis, Sophocles, 2014. "Consumer default and optimal consumption decisions," MPRA Paper 56864, University Library of Munich, Germany.
    77. Andersen, Henrik Yde, 2018. "Do tax incentives for saving in pension accounts cause debt accumulation? Evidence from Danish register data," European Economic Review, Elsevier, vol. 106(C), pages 35-53.
    78. Susan Lund & Charles Roxburgh, 2010. "Debt and Deleveraging," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 11(2), pages 1-30, April.
    79. Dagher, Jihad & Kazimov, Kazim, 2015. "Banks׳ liability structure and mortgage lending during the financial crisis," Journal of Financial Economics, Elsevier, vol. 116(3), pages 565-582.
    80. Lukasz Drozd & Michal Kowalik, 2019. "Credit Cards and the Great Recession: The Collapse of Teasers," 2019 Meeting Papers 1047, Society for Economic Dynamics.
    81. Jonathan Heathcote & Fabrizio Perri, 2015. "Wealth and Volatility," Staff Report 508, Federal Reserve Bank of Minneapolis.

  25. Atif Mian & Amir Sufi, 2010. "The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program," NBER Working Papers 16351, National Bureau of Economic Research, Inc.

    Cited by:

    1. Keaton S. Miller & Wesley W. Wilson & Nicholas G. Wood, 2020. "Environmentalism, Stimulus, And Inequality Reduction Through Industrial Policy: Did Cash For Clunkers Achieve The Trifecta?," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1109-1128, July.
    2. Jose J. Canals-Cerda & Brian Jonghwan Lee, 2025. "Who Provides Credit in Times of Crisis? Evidence from the Auto Loan Market," Working Papers 25-06, Federal Reserve Bank of Philadelphia.
    3. Paolo Surico & Riccardo Trezzi, 2015. "Austerity and Households Expenditure," 2015 Meeting Papers 513, Society for Economic Dynamics.
    4. Francesco D'Acunto & Daniel Hoang & Michael Weber & Michael Weber, 2016. "Unconventional Fiscal Policy, Inflation Expectations, and Consumption Expenditure," CESifo Working Paper Series 5793, CESifo.
    5. Mats A. Bergman & David Granlund & Niklas Rudholm, 2016. "Reforming the Swedish pharmaceuticals market: consequences for costs per defined daily dose," International Journal of Health Economics and Management, Springer, vol. 16(3), pages 201-214, September.
    6. Jiasheng Li & Pei Li & Yi Lu, 2026. "Do Engine‐Specific Tax Programs Work? A Structural Analysis of Market Spillovers and Welfare Implications," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 67(1), pages 287-312, February.
    7. Atif Mian & Amir Sufi & Francesco Trebbi, 2011. "Foreclosures, House Prices, and the Real Economy," IMES Discussion Paper Series 11-E-27, Institute for Monetary and Economic Studies, Bank of Japan.
    8. Jonathan A. Parker, 2011. "On Measuring the Effects of Fiscal Policy in Recessions," NBER Working Papers 17240, National Bureau of Economic Research, Inc.
    9. Daniel Green & Brian T. Melzer & Jonathan A. Parker & Arcenis Rojas, 2016. "Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand," NBER Working Papers 22878, National Bureau of Economic Research, Inc.
    10. Chia-Wen Chen & Wei-Min Hu & Christopher R. Knittel, 2017. "Subsidizing Fuel Efficient Cars: Evidence from China's Automobile Industry," NBER Working Papers 23045, National Bureau of Economic Research, Inc.
    11. Sébastien Houde & Joseph E. Aldy, 2014. "Belt and Suspenders and More: The Incremental Impact of Energy Efficiency Subsidies in the Presence of Existing Policy Instruments," NBER Working Papers 20541, National Bureau of Economic Research, Inc.
    12. Nathan Foley-Fisher & Stefan Gissler & Stephane Verani, 2018. "Over-the-counter market liquidity and securities lending," 2018 Meeting Papers 786, Society for Economic Dynamics.
    13. Shenoy, Ajay, 2018. "Regional development through place-based policies: Evidence from a spatial discontinuity," Journal of Development Economics, Elsevier, vol. 130(C), pages 173-189.
    14. Scott R. Baker & Lorenz Kueng & Leslie McGranahan & Brian T. Melzer, 2018. "Do Household Finances Constrain Unconventional Fiscal Policy?," Working Paper Series WP-2018-16, Federal Reserve Bank of Chicago.
    15. Elliot Anenberg & Daniel R. Ringo, 2019. "The Propagation of Demand Shocks Through Housing Markets," Finance and Economics Discussion Series 2019-084, Board of Governors of the Federal Reserve System (U.S.).
    16. Linn, Joshua, 2020. "How Targeted Vehicle Scrappage Subsidies Can Reduce Pollution Effectively," RFF Issue Briefs 20-09, Resources for the Future.
    17. Severin Borenstein & Lucas W. Davis, 2016. "The Distributional Effects of US Clean Energy Tax Credits," Tax Policy and the Economy, University of Chicago Press, vol. 30(1), pages 191-234.
    18. Daunfeldt, Sven-Olov & Halvarsson, Daniel & Gustavsson Tingvall, Patrik & McKelvie, Alexander, 2021. "Do Targeted R&D Grants Towards Potential Highgrowth Firms Increase Employment and Demand for High Human Capital Workers?," HFI Working Papers 23, Institute of Retail Economics (Handelns Forskningsinstitut).
    19. Zifeng Feng, 2022. "How Does Local Economy Affect Commercial Property Performance?," The Journal of Real Estate Finance and Economics, Springer, vol. 65(3), pages 361-383, October.
    20. Gabriel Chodorow-Reich, 2017. "Geographic Cross-Sectional Fiscal Multipliers: What Have We Learned?," 2017 Meeting Papers 1214, Society for Economic Dynamics.
    21. John B. Taylor, 2014. "The Role of Policy in the Great Recession and the Weak Recovery," American Economic Review, American Economic Association, vol. 104(5), pages 61-66, May.
    22. Ashok Kaul & Gregor Pfeifer & Stefan Witte, 2016. "The incidence of Cash for Clunkers: Evidence from the 2009 car scrappage scheme in Germany," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 23(6), pages 1093-1125, December.
    23. Sumit Agarwal & Gene Amromin & Itzhak Ben-David & Souphala Chomsisengphet & Tomasz Piskorski & Amit Seru, 2013. "Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program," Working Paper Series WP-2013-27, Federal Reserve Bank of Chicago.
    24. Vesal, Mohammad, 2017. "Stimulus Effect of a Value-added Tax Cut: Evidence from the UK Tax Returns Data," MPRA Paper 101016, University Library of Munich, Germany.
    25. Yun K. Kim, 2020. "Household Debt Accumulation and the Great Recession of the United States: A Comparative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(1), pages 26-49, March.
    26. Kurmann, André & Lalé, Etienne & Ta, Lien, 2025. "Measuring small business dynamics and employment with private-sector real-time data," Journal of Public Economics, Elsevier, vol. 250(C).
    27. Proost, Stef & Van Dender, Kurt, 2012. "Energy and environment challenges in the transport sector," Economics of Transportation, Elsevier, vol. 1(1), pages 77-87.
    28. Huang, Jian & Leng, Mingming & Liang, Liping & Luo, Chunlin, 2014. "Qualifying for a government’s scrappage program to stimulate consumers’ trade-in transactions? Analysis of an automobile supply chain involving a manufacturer and a retailer," European Journal of Operational Research, Elsevier, vol. 239(2), pages 363-376.
    29. Francesco D’Acunto & Daniel Hoang & Michael Weber, 2016. "The Effect of Unconventional Fiscal Policy on Consumption Expenditure," NBER Working Papers 22563, National Bureau of Economic Research, Inc.
    30. Gabriel Chodorow-Reich, 2017. "Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?," NBER Working Papers 23577, National Bureau of Economic Research, Inc.
    31. Hembre, Erik, 2018. "An examination of the first-time homebuyer tax credit," Regional Science and Urban Economics, Elsevier, vol. 73(C), pages 196-216.
    32. Helm, Ines & Koch, Nicolas & Rohlf, Alexander, 2023. "The effects of cash for clunkers on local air quality," Journal of Urban Economics, Elsevier, vol. 138(C).
    33. Sarra Ben Yahmed & Francesco Berlingieri & Eduard Brüll, 2024. "Local Labour Market Resilience: The Role of Digitalisation and Working from Home," CESifo Working Paper Series 11114, CESifo.
    34. Lenski, Shoshannah M. & Keoleian, Gregory A. & Moore, Michael R., 2013. "An assessment of two environmental and economic benefits of ‘Cash for Clunkers’," Ecological Economics, Elsevier, vol. 96(C), pages 173-180.
    35. Athiphat Muthitacharoen & Krislert Samphantharak & Sommarat Chantarat, 2019. "Fiscal stimulus and debt burden: evidence from Thailand’s first-car-buyer tax rebate program," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 26(6), pages 1383-1415, December.
    36. Sheldon, Tamara L. & Dua, Rubal, 2019. "Measuring the cost-effectiveness of electric vehicle subsidies," Energy Economics, Elsevier, vol. 84(C).
    37. Gavazza, Alessandro & Lanteri, Andrea, 2018. "Credit Shocks and Equilibrium Dynamics in Consumer Durable Goods Markets," CEPR Discussion Papers 13229, Centre for Economic Policy Research.
    38. Gidehag, Anton, 2019. "Firms’ labor cost savings and recruitment of nonwestern immigrants: The unintended effect of a payroll tax reform," HFI Working Papers 5, Institute of Retail Economics (Handelns Forskningsinstitut).
    39. João Granja & Christos Makridis & Constantine Yannelis & Eric Zwick, 2020. "Did the Paycheck Protection Program Hit the Target?," Working Papers 2020-52_Revised, Becker Friedman Institute for Research In Economics.
    40. Katharina Pfeil & Matthias Kasper & Sarah Necker & Lars P. Feld, 2024. "Tax System Design, Tax Reform, and Labor Supply," CESifo Working Paper Series 11350, CESifo.
    41. Vipul Bhatt & N. Kundan Kishor, 2026. "(In)Stability of the Relationship between Relative Expenditure and Price of Durable and Nondurable Goods," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(1), pages 237-259, February.
    42. Christopher L. House & Ana-Maria Mocanu & Matthew D. Shapiro, 2017. "Stimulus Effects of Investment Tax Incentives: Production versus Purchases," NBER Working Papers 23391, National Bureau of Economic Research, Inc.
    43. Boomhower, Judson & Davis, Lucas W., 2014. "A credible approach for measuring inframarginal participation in energy efficiency programs," Journal of Public Economics, Elsevier, vol. 113(C), pages 67-79.
    44. Marta Crispino & Michele Loberto & Carlo Pavanello & Enrico Sette, 2026. "New evidence on business investment and capital reallocation," Questioni di Economia e Finanza (Occasional Papers) 996, Bank of Italy, Economic Research and International Relations Area.
    45. Basten, Christoph & Ongena, Steven, 2024. "Mortgage lending through a fintech web platform. The roles of competition, diversification, and automation," Journal of Banking & Finance, Elsevier, vol. 163(C).
    46. Newell, Richard G. & Pizer, William A. & Raimi, Daniel, 2019. "U.S. federal government subsidies for clean energy: Design choices and implications," Energy Economics, Elsevier, vol. 80(C), pages 831-841.
    47. Andrew Bibler & Mouhcine Guettabi & Matthew N. Reimer, 2023. "Universal Cash Transfers and Labor Market Outcomes," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 42(1), pages 198-224, January.
    48. Wilhelm, Matthias & Buchheim, Lukas & Watzinger, Martin, 2016. "Investment in Photovoltaics and Job Creation: Evidence from a Billion Dollar Program," VfS Annual Conference 2016 (Augsburg): Demographic Change 145551, Verein für Socialpolitik / German Economic Association.
    49. Daunfeldt, Sven-Olov & Gidehag, Anton & Seerar Westerberg, Hans, 2023. "Do reduced labor costs increase employment among minimum wage workers? Evidence from a Swedish payroll tax cut," HFI Working Papers 26, Institute of Retail Economics (Handelns Forskningsinstitut).
    50. Chadwick J. Miller & Daniel C. Brannon & Jim Salas & Martha Troncoza, 2021. "Advertising, incentives, and the upsell: how advertising differentially moderates customer- vs. retailer-directed price incentives’ impact on consumers’ preferences for premium products," Journal of the Academy of Marketing Science, Springer, vol. 49(6), pages 1043-1064, November.
    51. Jeremy West & Mark Hoekstra & Jonathan Meer & Steven L. Puller, 2015. "Vehicle Miles (Not) Traveled: Why Fuel Economy Requirements Don't Increase Household Driving," NBER Working Papers 21194, National Bureau of Economic Research, Inc.
    52. Shanjun Li & Chao Wei, 2016. "The Cost of Greening Stimulus: A Dynamic Discrete Choice Analysis of Vehicle Scrappage Programs," Working Papers 2016-25, The George Washington University, Institute for International Economic Policy.
    53. Ruling Hong & Mengxun Liu & Haoming Yang & Qianqian Zhang, 2023. "What Drives China’s Exports: Evidence from a Domestic Consumption Expansion Policy," Sustainability, MDPI, vol. 15(4), pages 1-15, February.
    54. Piskorski, Tomasz & Seru, Amit, 2021. "Debt relief and slow recovery: A decade after Lehman," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1036-1059.
    55. Alex Hoagland & Trevor Woolley, 2018. "It'S No Accident: Evaluating The Effectiveness Of Vehicle Safety Inspections," Contemporary Economic Policy, Western Economic Association International, vol. 36(4), pages 607-628, October.
    56. David Berger & Fabrice Tourre & Joseph Vavra & Konstantin Milbradt, 2019. "Mortgage Prepayment and Path-Dependent Effects of Monetary Policy," 2019 Meeting Papers 175, Society for Economic Dynamics.
    57. Vincent Yao & Tomasz Piskorski & Amit Seru & Benjamin Keys, 2015. "Mortgage Rates, Household Balance Sheets, and the Real Economy," 2015 Meeting Papers 705, Society for Economic Dynamics.
    58. Adam Copeland & George Hall & Louis J. Maccini, 2019. "Interest Rates and the Market for New Light Vehicles," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(5), pages 1137-1168, August.
    59. Cwik, Tobias & Wieland, Volker, 2010. "Keynesian government spending multipliers and spillovers in the euro area," Working Paper Series 1267, European Central Bank.
    60. Dwenger, Nadja & Treber, Lukas, 2018. "Shaming for tax enforcement: Evidence from a new policy," Hohenheim Discussion Papers in Business, Economics and Social Sciences 21-2018, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    61. Aldy, Joseph E., 2022. "Learning How to Build Back Better through Clean Energy Policy Evaluation," RFF Working Paper Series 22-15, Resources for the Future.
    62. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    63. Gilbert, Ben & LaRiviere, Jacob & Novan, Kevin, 2022. "Uncertainty and additionality in energy efficiency programs," Journal of Environmental Economics and Management, Elsevier, vol. 115(C).
    64. Bäckman, Claes & Lutz, Chandler, 2025. "Mortgage innovation and house price booms," Journal of Urban Economics, Elsevier, vol. 145(C).
    65. Grigolon, Laura & Leheyda, Nina & Verboven, Frank, 2016. "Scrapping subsidies during the financial crisis — Evidence from Europe," International Journal of Industrial Organization, Elsevier, vol. 44(C), pages 41-59.
    66. Florian Dorn & Clemens Fuest & Florian Neumeier, 2020. "After the Great Economic Collapse: Germany’s Stimulus Package to Recover the Economy in Times of Covid-19," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 21(02), pages 38-46, July.
    67. Gøril L. Andreassen & Jo Thori Lind, 2022. "Climate, Technology and Value: Insights from the First Decade with Mass-Consumption of Electric Vehicles," CESifo Working Paper Series 9814, CESifo.
    68. Christine L. Dobridge, 2016. "Fiscal Stimulus and Firms: A Tale of Two Recessions," Finance and Economics Discussion Series 2016-13, Board of Governors of the Federal Reserve System (U.S.).
    69. Fuchs-Schündeln, N. & Hassan, T.A., 2016. "Natural Experiments in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 923-1012, Elsevier.
    70. Lim, G.C. & McNelis, Paul D., 2016. "Quasi-monetary and quasi-fiscal policy rules at the zero-lower bound," Journal of International Money and Finance, Elsevier, vol. 69(C), pages 135-150.
    71. Koichiro Ito, 2015. "Asymmetric Incentives in Subsidies: Evidence from a Large-Scale Electricity Rebate Program," American Economic Journal: Economic Policy, American Economic Association, vol. 7(3), pages 209-237, August.
    72. Toke Aidt & Zareh Asatryan & Lusine Badalyan & Friedrich Heinemann, 2020. "Vote Buying or (Political) Business (Cycles) as Usual?," The Review of Economics and Statistics, MIT Press, vol. 102(3), pages 409-425, July.
    73. Claes Bäckman & Natalia Khorunzhina, 2024. "Interest‐Only Mortgages And Consumption Growth: Evidence From A Mortgage Market Reform," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(2), pages 1049-1079, May.
    74. Kenneth Gillingham & Bryan Bollinger, 2020. "Social Learning and Solar Photovoltaic Adoption," CESifo Working Paper Series 8434, CESifo.
    75. Klößner, Stefan & Pfeifer, Gregor, 2015. "Synthesizing Cash for Clunkers: Stabilizing the Car Market, Hurting the Environment," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113207, Verein für Socialpolitik / German Economic Association.
    76. Scott R. Baker & Stephanie Johnson & Lorenz Kueng, 2021. "Shopping for Lower Sales Tax Rates," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 209-250, July.
    77. Lorenzo Casaburi & Ugo Troiano, 2015. "Ghost-House Busters: The Electoral Response to a Large Anti Tax Evasion Program," NBER Working Papers 21185, National Bureau of Economic Research, Inc.
    78. Mark R. Jacobsen & Arthur A. van Benthem, 2013. "Vehicle Scrappage and Gasoline Policy," NBER Working Papers 19055, National Bureau of Economic Research, Inc.
    79. Eric Zwick & James Mahon, 2016. "Tax Policy and Heterogeneous Investment Behavior," NBER Working Papers 21876, National Bureau of Economic Research, Inc.
    80. Ben Yahmed, Sarra & Berlingieri, Francesco & Brüll, Eduard, 2022. "Adjustments of local labour markets to the COVID-19 crisis: The role of digitalisation and working-from-home," ZEW Discussion Papers 22-031, ZEW - Leibniz Centre for European Economic Research.
    81. Nishitateno, Shuhei & Burke, Paul J., 2021. "Willingness to pay for clean air: Evidence from diesel vehicle registration restrictions in Japan," Regional Science and Urban Economics, Elsevier, vol. 88(C).
    82. Christa Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert van der Klaauw & Jialan Wang, 2025. "Consumer Credit Reporting Data," Journal of Economic Literature, American Economic Association, vol. 63(2), pages 598-636, June.
    83. Tim Noparumpa & Kanis Saengchote, 2017. "The Impact of Tax Rebate on Used Car Market: Evidence from Thailand," International Review of Finance, International Review of Finance Ltd., vol. 17(1), pages 147-154, March.
    84. Kärnä Anders, 2021. "Take it to the (public) bank: The efficiency of public bank loans to private firms," German Economic Review, De Gruyter, vol. 22(1), pages 27-62, February.
    85. Agarwal, Sumit & Koo, Kang Mo & Qian, Wenlan, 2022. "Consumption response to temporary price shock: Evidence from Singapore's annual sale event," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    86. Daunfeldt, Sven-Olov & Gidehag, Anton & Rudholm, Niklas, 2019. "Compulsory staff registers as a way of increasing firms’ wage reporting: A revenue-cost analysis," HFI Working Papers 6, Institute of Retail Economics (Handelns Forskningsinstitut).
    87. Jonathan E. Hughes & Molly Podolefsky, 2015. "Getting Green with Solar Subsidies: Evidence from the California Solar Initiative," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 2(2), pages 235-275.
    88. Lukas Buchheim & Martin Watzinger, 2017. "The Employment Effects of Countercyclical Infrastructure Investments," CESifo Working Paper Series 6383, CESifo.
    89. Mark Hoekstra & Steven L. Puller & Jeremy West, 2014. "Cash for Corollas: When Stimulus Reduces Spending," NBER Working Papers 20349, National Bureau of Economic Research, Inc.
    90. Latino, Carmelo & Pelizzon, Loriana & Riedel, Max, 2023. "How to green the European Auto ABS market? A literature survey," SAFE Working Paper Series 391, Leibniz Institute for Financial Research SAFE.
    91. Michael Weber & Daniel Hoang & Francesco D'Acunto, 2015. "Inflation Expectations and Consumption Expenditure," 2015 Meeting Papers 1266, Society for Economic Dynamics.
    92. Granja, João & Nagel, Fabian, 2025. "Current Expected Credit Losses and consumer loans," Journal of Accounting and Economics, Elsevier, vol. 80(1).
    93. Daunfeldt, Sven-Olov & Gidehag, Anton & Rudholm, Niklas, 2019. "How do firms respond to reduced labor costs? Evidence from the 2007 Swedish payroll tax reform," HFI Working Papers 3, Institute of Retail Economics (Handelns Forskningsinstitut).
    94. Hernán Barahona & Francisco Gallego & Jeanne Juan-Pablo Montero, 2016. "Adopting a Cleaner Technology: The Effect of Driving Restrictions on Fleet Turnover," Working Papers ClioLab 24, EH Clio Lab. Instituto de Economía. Pontificia Universidad Católica de Chile.
    95. Timothy G. Conley & Bill Dupor & Rong Li & Yijiang Zhou, 2023. "Decomposing the Government Transfer Multiplier," Working Papers 2023-017, Federal Reserve Bank of St. Louis, revised 17 Nov 2023.
    96. Jack Dunbar & Christopher J. Kurz & Geng Li & Maria D. Tito, 2024. "In the Driver's Seat: Pandemic Fiscal Stimulus and Light Vehicles," Finance and Economics Discussion Series 2024-013, Board of Governors of the Federal Reserve System (U.S.).
    97. Atif Mian & Amir Sufi & Nasim Khoshkhou, 2015. "Government Economic Policy, Sentiments, and Consumption," NBER Working Papers 21316, National Bureau of Economic Research, Inc.
    98. Nano Barahona & Francisco Gallego & Juan-Pablo Montero, 2018. "Vintage-specific driving restrictions," Documentos de Trabajo 16259, The Latin American and Caribbean Economic Association (LACEA).
    99. Kevin Ankney & Benjamin Leard, 2025. "Should electric vehicle purchase subsidies be linked with scrappage requirements?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 44(2), pages 553-578, March.
    100. Ben Gilbert & Jacob LaRiviere & Kevin Novan, 2019. "Additionality, Mistakes, and Energy Efficiency Investment," Working Papers 2019-01, Colorado School of Mines, Division of Economics and Business.
    101. Adam Copeland & James A. Kahn, 2011. "The production impact of "cash-for-clunkers": implications for stabilization policy," Staff Reports 503, Federal Reserve Bank of New York.
    102. Wu, Haijun & Yang, Jidong & Yang, Qijing, 2021. "The pressure of economic growth and the issuance of Urban Investment Bonds: Based on panel data from 2005 to 2011 in China," Journal of Asian Economics, Elsevier, vol. 76(C).
    103. Germeshausen, Robert, 2018. "The European Union emissions trading scheme and fuel efficiency of fossil fuel power plants in Germany," ZEW Discussion Papers 18-007, ZEW - Leibniz Centre for European Economic Research.
    104. Francesco D'Acunto & Daniel Hoang & Michael Weber & Michael Weber, 2018. "Unconventional Fiscal Policy," CESifo Working Paper Series 6862, CESifo.
    105. Heechul Min, 2015. "Korea's Cash-for-Clunkers Program: Household-Level Evidence," Asian Economic Journal, East Asian Economic Association, vol. 29(4), pages 347-363, December.
    106. Shanjun Li & Youming Liu & Chao Wei, 2022. "The Cost Of Greening Stimulus: A Dynamic Analysis Of Vehicle Scrappage Programs," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(4), pages 1561-1594, November.
    107. Athanasouli, Daphne & Goujard, Antoine, 2015. "Corruption and management practices: Firm level evidence," Journal of Comparative Economics, Elsevier, vol. 43(4), pages 1014-1034.
    108. Erich Muehlegger & David S. Rapson, 2018. "Subsidizing Low- and Middle-Income Adoption of Electric Vehicles: Quasi-Experimental Evidence from California," NBER Working Papers 25359, National Bureau of Economic Research, Inc.
    109. Davis, Morris A. & Van Nieuwerburgh, Stijn, 2015. "Housing, Finance, and the Macroeconomy," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 753-811, Elsevier.
    110. Florian Dorn & Clemens Fuest & Florian Neumeier, 2020. "Nach dem großen Einbruch: Ein Konjunkturprogramm zur Stützung und Erholung der Wirtschaft," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(07), pages 03-12, July.
    111. Anderson, Anders & Hong, Harrison, 2022. "Welfare Implications of Electric-Bike Subsidies: Evidence from Sweden," HoSS Working Paper Series 2022-8, Stockholm School of Economics, House of Sustainable Society (HoSS).
    112. Paredes, Joan, 2017. "Subsidising car purchases in the euro area: any spill-over on production?," Working Paper Series 2094, European Central Bank.
    113. West, Jeremy & Hoekstra, Mark & Meer, Jonathan & Puller, Steven L., 2017. "Vehicle miles (not) traveled: Fuel economy requirements, vehicle characteristics, and household driving," Journal of Public Economics, Elsevier, vol. 145(C), pages 65-81.
    114. Sommarat Chantarat & Athiphat Muthitacharoen & Krislert Samphantharak, 2017. "Fiscal Stimulus and Household Debt: Evidence from Thailand's First-Car Buyer Tax Rebate," PIER Discussion Papers 60, Puey Ungphakorn Institute for Economic Research.
    115. Kitano, Taiju, 2025. "Greening vehicle fleets: A structural analysis of scrappage programs during the financial crisis," International Journal of Industrial Organization, Elsevier, vol. 103(PB).
    116. McNelis, Paul D. & Yoshino, Naoyuki, 2016. "Finding stability in a time of prolonged crisis: Unconventional policy rules for Japan," Journal of Financial Stability, Elsevier, vol. 27(C), pages 122-136.
    117. Partsch, Emil Holst & Petrella, Ivan & Santoro, Emiliano, 2026. "Consumer durables and monetary policy according to HANK," Journal of Monetary Economics, Elsevier, vol. 157(C).
    118. Orazio Attanasio & Kieran Larkin & Morten O. Ravn & Mario Padula, 2022. "(S)Cars and the Great Recession," Econometrica, Econometric Society, vol. 90(5), pages 2319-2356, September.
    119. Cantos-Sánchez, Pedro & Gutiérrez-i-Puigarnau, Eva & Mulalic, Ismir, 2015. "The impact of scrappage programs on the demand for new vehicles: Evidence from Spain," MPRA Paper 61224, University Library of Munich, Germany.
    120. Doremus, Jacqueline & Helfand, Gloria & Liu, Changzheng & Donahue, Marie & Kahan, Ari & Shelby, Michael, 2019. "Simpler is better: Predicting consumer vehicle purchases in the short run," Energy Policy, Elsevier, vol. 129(C), pages 1404-1415.
    121. Luis E. Arango & Luz A. Flórez & N. Johana Marín & Carlos E. Posada, 2024. "Temporary VAT exemption in Colombia: How did household consumption respond?," Borradores de Economia 1281, Banco de la Republica de Colombia.
    122. Ongena, Steven & Basten, Christoph, 2020. "The Geography of Mortgage Lending in Times of FinTech," CEPR Discussion Papers 14918, Centre for Economic Policy Research.
    123. Peter Haan & Adrián Santonja & Aleksandar Zaklan, 2023. "Effectiveness and Heterogeneous Effects of Purchase Grants for Electric Vehicles," Berlin School of Economics Discussion Papers 0011, Berlin School of Economics.
    124. P.J. Glandon & Ken Kuttner & Sandeep Mazumder & Caleb Stroup, 2019. "Macroeconomic Research, Present and Past," Department of Economics Working Papers 2019-06, Department of Economics, Williams College, revised Jul 2019.
    125. Robert E. Hall, 2011. "The Long Slump," NBER Working Papers 16741, National Bureau of Economic Research, Inc.
    126. Daniel Fehrle & Johannes Huber, 2020. "Business cycle accounting for the German fiscal stimulus program during the Great Recession," Working Papers 197, Bavarian Graduate Program in Economics (BGPE).
    127. David B. Cashin, 2017. "The Household Expenditure Response to a Consumption Tax Rate Increase," Finance and Economics Discussion Series 2017-035, Board of Governors of the Federal Reserve System (U.S.).
    128. David Berger & Nicholas Turner & Eric Zwick, 2016. "Stimulating Housing Markets," NBER Working Papers 22903, National Bureau of Economic Research, Inc.
    129. Jonathan A. Parker & Nicholas S. Souleles & David S. Johnson & Robert McClelland, 2013. "Consumer Spending and the Economic Stimulus Payments of 2008," American Economic Review, American Economic Association, vol. 103(6), pages 2530-2553, October.
    130. Jesse Bricker & Kevin B. Moore & Jeffrey P. Thompson, 2019. "Trends in Household Portfolio Composition," Finance and Economics Discussion Series 2019-069, Board of Governors of the Federal Reserve System (U.S.).
    131. Athiphat Muthitacharoen & Athiphat Muthitacharoen, 2023. "Digital Fiscal Stimulus and SMEs: Insights from Thailand's Half and Half Program," CESifo Working Paper Series 10711, CESifo.
    132. Tanisa Tawichsri, 2018. "Consumption Responses and Redistributive Implications of Luxury Durable Tax Rebates," PIER Discussion Papers 99, Puey Ungphakorn Institute for Economic Research, revised Nov 2025.
    133. Seerar Westerberg, Hans, 2021. "Are payroll tax cuts absorbed by insiders? Evidence from the Swedish retail industry," HFI Working Papers 20, Institute of Retail Economics (Handelns Forskningsinstitut).
    134. Hendrik Lüth, 2021. "Reassessing Car Scrappage Schemes in Selected OECD Countries: A Synthetic Control Method Application," Working Paper 190/2021, Helmut Schmidt University, Hamburg.
    135. Andrea La Nauze, 2021. "Motivation Crowding in Peer Effects: The Effect of Solar Subsidies on Green Power Purchases," CESifo Working Paper Series 8940, CESifo.
    136. Kaiji Chen & Qing Wang & Tong Xu & Tao Zha, 2025. "Aggregate and distributional impacts of LTV policy in China," Quantitative Economics, Econometric Society, vol. 16(4), pages 1361-1408, November.
    137. Rittenhouse, Katherine & Zaragoza-Watkins, Matthew, 2018. "Anticipation and environmental regulation," Journal of Environmental Economics and Management, Elsevier, vol. 89(C), pages 255-277.
    138. Tanaka, Shinsuke, 2020. "When tax incentives drive illicit behavior: The manipulation of fuel economy in the automobile industry," Journal of Environmental Economics and Management, Elsevier, vol. 104(C).
    139. Thomas Klier & James M. Rubenstein, 2013. "Restructuring of the U.S. Auto Industry in the 2008-2009 Recession," Economic Development Quarterly, , vol. 27(2), pages 144-159, May.
    140. Laborda, Juan & Moral, María J., 2019. "Scrappage by age: Cash for Clunkers matters!," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 488-504.
    141. Alisdair McKay & Johannes F. Wieland, 2019. "Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy," NBER Working Papers 26175, National Bureau of Economic Research, Inc.
    142. Zhou Xia & Carroll Christopher D., 2012. "Dynamics of Wealth and Consumption: New and Improved Measures for U.S. States," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(2), pages 1-44, March.
    143. Sheldon, Tamara L. & Dua, Rubal, 2019. "Assessing the effectiveness of California's “Replace Your Ride”," Energy Policy, Elsevier, vol. 132(C), pages 318-323.
    144. David Leuwer & Bernd Süssmuth, 2018. "Assessing Temporary Product-Specific Subsidies: A Time Series Intervention Analysis," CESifo Working Paper Series 6946, CESifo.
    145. Abo-Zaid, Salem & Kamara, Ahmed H., 2020. "Credit Constraints and the Government Spending Multiplier," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    146. Sumit Agarwal & Gene Amromin & Souphala Chomsisengphet & Tim Landvoigt & Tomasz Piskorski & Amit Seru & Vincent Yao, 2015. "Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program," NBER Working Papers 21512, National Bureau of Economic Research, Inc.
    147. Ankney, Kevin & Leard, Benjamin, 2022. "Should Electric Vehicle Purchase Subsidies Be Linked with Scrappage Requirements?," RFF Working Paper Series 22-13, Resources for the Future.
    148. Rappaport, Jordan & Humann, McKenzie, 2025. "A better delineation of U.S. metropolitan areas," Journal of Urban Economics, Elsevier, vol. 149(C).

  26. Atif Mian & Amir Sufi & Francesco Trebbi, 2010. "The Political Economy of the Subprime Mortgage Credit Expansion," NBER Working Papers 16107, National Bureau of Economic Research, Inc.

    Cited by:

    1. Müller, Karsten, 2019. "Electoral cycles in macroprudential regulation," ESRB Working Paper Series 106, European Systemic Risk Board.
    2. Orkun Saka & Yuemei Ji & Paul De Grauwe, 2021. "Financial Policymaking after Crises: Public vs. Private Interests," CESifo Working Paper Series 9131, CESifo.
    3. Akey, Pat & Heimer, Rawley Z. & Lewellen, Stefan, 2021. "Politicizing consumer credit," Journal of Financial Economics, Elsevier, vol. 139(2), pages 627-655.
    4. Bo Li, 2024. "Household Leverage Cycle Around the Great Recession," Papers 2407.01539, arXiv.org.
    5. Saka, O. & Ji, Y. & Minaudier, C., 2024. "Political Accountability during Crises: Evidence from 40 years of Financial Policies," Working Papers 24/01, Department of Economics, City St George's, University of London.
    6. Deniz Igan & Prachi Mishra & Thierry Tressel, 2011. "A Fistful of Dollars: Lobbying and the Financial Crisis," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 195-230, National Bureau of Economic Research, Inc.
    7. Enrico Perotti & Marcel Vorage, 2010. "Bank Ownership and Financial Stability," Tinbergen Institute Discussion Papers 10-022/2, Tinbergen Institute, revised 11 Sep 2010.
    8. Yun K. Kim, 2020. "Household Debt Accumulation and the Great Recession of the United States: A Comparative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(1), pages 26-49, March.
    9. Anping Chen & Marlon Boarnet & Mark Partridge & Haifang Huang & Brad R. Humphreys, 2014. "New Sports Facilities And Residential Housing Markets," Journal of Regional Science, Wiley Blackwell, vol. 54(4), pages 629-663, September.
    10. Ms. Deniz O Igan & Thomas Lambert, 2019. "Bank Lobbying: Regulatory Capture and Beyond," IMF Working Papers 2019/171, International Monetary Fund.
    11. Bartolozzi, D. & Gara, M. & Marchetti, D.J. & Masciandaro, D., 2022. "Designing the anti-money laundering supervisor: The governance of the financial intelligence units," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1093-1109.
    12. Adelino, Manuel & Dinc, I. Serdar, 2014. "Corporate distress and lobbying: Evidence from the Stimulus Act," Journal of Financial Economics, Elsevier, vol. 114(2), pages 256-272.
    13. Groll, Thomas & O’Halloran, Sharyn & McAllister, Geraldine, 2021. "Delegation and the regulation of U.S. financial markets," European Journal of Political Economy, Elsevier, vol. 70(C).
    14. Almasi, Pooya & Dagher, Jihad & Prato, Carlo, 2025. "Financial regulatory cycles: A political economy model," Journal of Financial Intermediation, Elsevier, vol. 63(C).
    15. Bombardini, Matilde & Trebbi, Francesco, 2011. "Votes or money? Theory and evidence from the US Congress," Journal of Public Economics, Elsevier, vol. 95(7), pages 587-611.
    16. Goodhart, Lucy, 2015. "Brave new world? Macro prudential policy and the new political economy of The Federal Reserve," LSE Research Online Documents on Economics 60952, London School of Economics and Political Science, LSE Library.
    17. Clément Bellet, 2017. "Essays on inequality, social preferences and consumer behavior [Inégalités, préférences sociales et comportement du consommateur]," Sciences Po Economics Publications (main) tel-03455045, HAL.
    18. Sumit Agarwal & Gene Amromin & Itzhak Ben-David & Douglas D. Evanoff, 2016. "Loan Product Steering in Mortgage Markets," NBER Working Papers 22696, National Bureau of Economic Research, Inc.
    19. Lambert, Thomas, 2015. "Lobbying on Regulatory Enforcement Actions: Evidence from Banking," HIT-REFINED Working Paper Series 28, Institute of Economic Research, Hitotsubashi University.
    20. Francisco ALVAREZ-CUADRADO & Irakli JAPARIDZE, 2015. "Trickle-Down Consumption, Financial Deregulation, Inequality, and Indebtedness," Cahiers de recherche 10-2015, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    21. Clément S. Bellet, 2017. "The paradox of the Joneses: superstar houses and mortgage frenzy in suburban America," CEP Discussion Papers dp1462, Centre for Economic Performance, LSE.
    22. Tibor Szendrei & Nikolett V'ag'o & Katalin Varga, 2026. "A Roof Over Risk: A House Price-at-Risk Framework for Hungary," Papers 2602.18592, arXiv.org.
    23. Tabellini, Marco & Calderon, Alvaro & Fouka, Vasiliki, 2021. "Racial Diversity and Racial Policy Preferences: The Great Migration and Civil Rights," CEPR Discussion Papers 14318, Centre for Economic Policy Research.
    24. Aggey Semenov & Hector Perez Saiz, 2014. "The Effect Of Campaign Contributions On State Banking Regulation And Bank Expansion In U.S," 2014 Meeting Papers 1265, Society for Economic Dynamics.
    25. Ansell, Ben & Broz, Lawrence, 2015. "Global capital markets, housing prices, and partisan fiscal policies," LSE Research Online Documents on Economics 60930, London School of Economics and Political Science, LSE Library.
    26. Fetzer, Thiemo & Sen, Srinjoy & Souza, Pedro CL, 2019. "Housing insecurity, homelessness and populism: Evidence from the UK," CEPR Discussion Papers 14184, Centre for Economic Policy Research.
    27. Thomas Groll & Christopher J. Ellis, 2016. "Repeated Lobbying by Commercial Lobbyists and Special Interests," CESifo Working Paper Series 5809, CESifo.
    28. Ma, Yechi & Ding, Yibing & Bu, Ziwen & Li, Suyang, 2024. "Political freedom and financial inclusion: Unraveling social trust and political rent-seeking," Journal of Economic Behavior & Organization, Elsevier, vol. 220(C), pages 46-65.
    29. Chu, Yongqiang & Li, Xinming & Ma, Tao & Zhao, Daxuan, 2021. "Option compensation, risky mortgage lending, and the financial crisis," Journal of Corporate Finance, Elsevier, vol. 70(C).
    30. Guangdong Xu, 2022. "Is Rajan’s Hypothesis Confirmed by Empirical Evidence? A Critical Review," Review of Radical Political Economics, Union for Radical Political Economics, vol. 54(3), pages 334-350, September.
    31. Igan, Deniz & Lambert, Thomas & Wagner, Wolf & Zhang, Eden Quxian, 2022. "Winning connections? Special interests and the sale of failed banks," Journal of Banking & Finance, Elsevier, vol. 140(C).
    32. Matsusaka, John G., 2018. "Special Interest Influence under Direct versus Representative Democracy," Working Papers 278, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    33. Huynh, Tran & Uebelmesser, Silke, 2024. "Early warning models for systemic banking crises: Can political indicators improve prediction?," European Journal of Political Economy, Elsevier, vol. 81(C).
    34. Bo Li, 2024. "Testing Business Cycle Theories: Evidence from the Great Recession," Papers 2403.04104, arXiv.org.
    35. Marianne Bertrand & Matilde Bombardini & Francesco Trebbi, 2011. "Is It Whom You Know or What You Know? An Empirical Assessment of the Lobbying Process," NBER Working Papers 16765, National Bureau of Economic Research, Inc.
    36. Sungmun Choi, 2017. "Politician’s ideology and campaign contributions from interest groups," Empirical Economics, Springer, vol. 53(4), pages 1733-1746, December.
    37. Lavezzolo, Sebastián, 2020. "Political regimes and bank interest margins," Economic Systems, Elsevier, vol. 44(2).
    38. Agarwal,Sumit & Morais,Bernardo & Ruiz Ortega,Claudia & Zhang,Jian, 2016. "The political economy of bank lending : evidence from an emerging market," Policy Research Working Paper Series 7577, The World Bank.
    39. Jihad Dagher, 2018. "Regulatory Cycles: Revisiting the Political Economy of Financial Crises," IMF Working Papers 2018/008, International Monetary Fund.
    40. Chu, Yongqiang & Zhang, Tim, 2022. "Political influence and banks: Evidence from mortgage lending," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    41. Bellet, Clement, 2017. "The paradox of the Joneses: superstar houses andmortgage frenzy in suburban America," LSE Research Online Documents on Economics 69044, London School of Economics and Political Science, LSE Library.
    42. Fink, Alexander & Stahl, Jörg R., 2020. "The value of international political connections: Evidence from Trump's 2016 surprise election," Journal of Economic Behavior & Organization, Elsevier, vol. 176(C), pages 691-700.

  27. Atif R. Mian & Amir Sufi, 2009. "House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis," NBER Working Papers 15283, National Bureau of Economic Research, Inc.

    Cited by:

    1. Caloia, Francesco G., 2024. "Borrower-based measures, house prices and household debt," Journal of International Money and Finance, Elsevier, vol. 143(C).
    2. Georgios Bampinas & Panagiotis Konstantinou & Theodore Panagiotidis, 2017. "Inequality, Demographics and the Housing Wealth Effect: Panel Quantile Regression Evidence for the US States," Working Paper series 17-01, Rimini Centre for Economic Analysis.
    3. Greg Buchak, 2024. "Financing the Gig Economy," Journal of Finance, American Finance Association, vol. 79(1), pages 219-256, February.
    4. Autor, David & Dorn, David & Hanson, Gordon & Majlesi, Kaveh, 2016. "Importing Political Polarization? The Electoral Consequences of Rising Trade Exposure," Working Papers 2016:21, Lund University, Department of Economics.
    5. Pengpeng Yue & Aslihan Gizem Korkmaz & Zhichao Yin & Haigang Zhou, 2022. "The rise of digital finance: Financial inclusion or debt trap," Papers 2201.09221, arXiv.org.
    6. Wendy Nyakabawo & Stephen M. Miller & Mehmet Balcilar & Sonali Das & Rangan Gupta, 2013. "Temporal Causality between House Prices and Output in the U.S.: A Bootstrap Rolling-Window Approach," Working papers 2013-14, University of Connecticut, Department of Economics.
    7. Xavier Giroud & Holger M. Mueller, 2017. "Firm Leverage, Consumer Demand, and Employment Losses during the Great Recession," Working Papers 17-01, Center for Economic Studies, U.S. Census Bureau.
    8. Sarah Brown & Daniel Gray & Alberto Montagnoli, 2018. "Credit Supply Shocks and Household Leverage: Evidence from the US Banking Deregulation," Working Papers 2018009, The University of Sheffield, Department of Economics.
    9. Tambalotti, Andrea & Primiceri, Giorgio & Justiniano, Alejandro, 2013. "Household Leveraging and Deleveraging," CEPR Discussion Papers 9671, Centre for Economic Policy Research.
    10. Gropp, Reint E. & Krainer, John & Laderman, Elizabeth, 2014. "Did consumers want less debt? Consumer credit demand versus supply in the wake of the 2008-2009 financial crisis," SAFE Working Paper Series 42, Leibniz Institute for Financial Research SAFE.
    11. Gauti B. Eggertsson & Neil R. Mehrotra, 2014. "A Model of Secular Stagnation," NBER Working Papers 20574, National Bureau of Economic Research, Inc.
    12. Atif Mian & Amir Sufi, 2014. "House Price Gains and U.S. Household Spending from 2002 to 2006," NBER Working Papers 20152, National Bureau of Economic Research, Inc.
    13. Lise Clain-Chamosset-Yvrard & Xavier Raurich & Thomas Seegmuller, 2022. "Rational housing demand bubble," AMSE Working Papers 2213, Aix-Marseille School of Economics, France.
    14. Aleksandra Riedl, 2019. "Household debt in CESEE economies: a joint look at macro- and micro-level data," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q1/19, pages 6-28.
    15. Fergus Cumming & Paul Hubert, 2019. "The role of households' borrowing constraints in the transmission of monetary policy," Sciences Po Economics Publications (main) hal-03403257, HAL.
    16. Brown, Martin & Schmitz, Jan & Zehnder, Christian, 2024. "Communication and hidden action: A credit market experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 423-455.
    17. Pancrazi, Roberto & Pietrunti, Mario, 2015. "Natural Expectations and Home Equity Extraction," The Warwick Economics Research Paper Series (TWERPS) 1068, University of Warwick, Department of Economics.
    18. Rüdiger Bachmann & Sebastian K. Rüth, 2020. "Systematic Monetary Policy And The Macroeconomic Effects Of Shifts In Residential Loan‐To‐Value Ratios," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(2), pages 503-530, May.
    19. Osei, Michael J. & Winters, John V., 2018. "Labor Demand Shocks and Housing Prices across the US: Does One Size Fit All?," IZA Discussion Papers 11636, IZA Network @ LISER.
    20. Saleem Bahaj & Angus Foulis & Gabor Pinter, 2017. "Home values and firm behaviour," Bank of England working papers 679, Bank of England.
    21. Jonas Meuli & Thomas Nellen & Thomas Nitschka, 2016. "Securitisation, loan growth and bank funding: the Swiss experience since 1932," Working Papers 2016-18, Swiss National Bank.
    22. Lei He & Shuyi Zhou, 2022. "Household Financial Vulnerability to Income and Medical Expenditure Shocks: Measurement and Determinants," IJERPH, MDPI, vol. 19(8), pages 1-17, April.
    23. Stuart Gabriel & Owen Hearey & Matthew E. Kahn & Ryan K. Vaughn, 2016. "Public School Quality Valuation Over the Business Cycle," NBER Working Papers 22668, National Bureau of Economic Research, Inc.
    24. Uras, R.B. & Elgin, C., 2014. "Homeownership, Informality and the Transmission of Monetary Policy," Discussion Paper 2014-045, Tilburg University, Center for Economic Research.
    25. Ansgar Rannenberg, 2019. "Inequality, the risk of secular stagnation and the increase in household deb," Working Paper Research 375, National Bank of Belgium.
    26. Jieying Li & Xin Zhang, 2018. "House Prices, Home Equity, and Personal Debt Composition," 2018 Meeting Papers 661, Society for Economic Dynamics.
    27. Narayan Kundan Kishor, 2021. "Forecasting real‐time economic activity using house prices and credit conditions," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 40(2), pages 213-227, March.
    28. McInerney, Niall, 2019. "Macroprudential Policy, Banking and the Real Estate Sector," MPRA Paper 91777, University Library of Munich, Germany.
    29. Jung Sakong, 2021. "Effect of Ownership Composition on Property Prices and Rents: Evidence from Chinese Investment Boom in US Housing Markets," Working Paper Series WP-2021-12, Federal Reserve Bank of Chicago.
    30. Mark D. Partridge & Dan S. Rickman & Ying Tan & M. Rose Olfert, 2015. "U.S. Regional Poverty Post-2000," Economic Development Quarterly, , vol. 29(1), pages 38-48, February.
    31. Knut Are Aastveit & Bruno Albuquerque & André Anundsen, 2020. "Changing supply elasticities and regional housing booms," Bank of England working papers 844, Bank of England.
    32. Yavuz Arslan & Bulent Guler & Temel Taskin, 2015. "Joint Dynamics of House Prices and Foreclosures," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 133-169, March.
    33. Gerhard Illing & Yoshiyasu Ono & Matthias Schlegl, 2016. "Asset Prices and Leverage in a Model of Persistent Stagnation," ISER Discussion Paper 0988, Institute of Social and Economic Research, The University of Osaka.
    34. Illing, Gerhard & Ono, Yoshiyasu & Schlegl, Matthias, 2018. "Credit booms, debt overhang and secular stagnation," European Economic Review, Elsevier, vol. 108(C), pages 78-104.
    35. John Gathergood & Eleonora Fichera, 2012. "House Prices, Home Equity and Health," Discussion Papers 12/07, University of Nottingham, School of Economics.
    36. Alejandro Van der Ghote & Luc Laeven & Victoria Vanasco & Alberto Martin & Vladimir Asriyan, 2021. "Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium," Working Papers 1268, Barcelona School of Economics.
    37. Laeven, L., 2010. "The Dismal State of Banking," Other publications TiSEM d2808eb1-43e6-412d-ab48-0, Tilburg University, School of Economics and Management.
    38. Akin, Ozlem & Marín, J.M. & Peydró, José-Luis, 2019. "Anticipating the Financial Crisis: Evidence from Insider Trading in Banks," EconStor Preprints 216803, ZBW - Leibniz Information Centre for Economics.
    39. Patrick A. Pintus & Jacek Suda, 2016. "Learning Financial Shocks and the Great Recession," Working Papers halshs-00830480, HAL.
    40. Manuel Adelino & William B. McCartney & Antoinette Schoar, 2020. "The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market," NBER Working Papers 27499, National Bureau of Economic Research, Inc.
    41. Schneider, Martin & Piazzesi, Monika, 2016. "Housing and macroeconomics," CEPR Discussion Papers 11519, Centre for Economic Policy Research.
    42. Khan, Salman & Azmat, Saad, 2020. "Debt externality in equity markets: Leveraged portfolios and Islamic indices," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 152-177.
    43. Turdaliev, Nurlan & Zhang, Yahong, 2019. "Household debt, macroprudential rules, and monetary policy," Economic Modelling, Elsevier, vol. 77(C), pages 234-252.
    44. Therese C. Scharlemann & Stephen H. Shore, 2015. "The Effect of Negative Equity on Mortgage Default: Evidence from HAMP PRA," Working Papers 15-06, Office of Financial Research, US Department of the Treasury.
    45. Rüth, Sebastian K. & Simon, Camilla, 2022. "How do income and the debt position of households propagate fiscal stimulus into consumption?," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    46. Li, Tongxia & Lu, Chun & Chen, Zhihua, 2023. "The unintended consequence of collateral-based financing: Evidence from corporate cost behavior," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(1).
    47. Helmut Herwartz & Christian Ochsner & Hannes Rohloff, 2021. "The Credit Composition of Global Liquidity," MAGKS Papers on Economics 202115, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    48. Yuliya Demyanyk & Dmytro Hryshko & María Jose Luengo-Prado & Bent E. Sorensen, 2015. "The rise and fall of consumption in the '00s," Working Papers 15-12, Federal Reserve Bank of Boston.
    49. Borsi, Mihály Tamás, 2018. "Credit contractions and unemployment," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 573-593.
    50. Johannes Stroebel, 2016. "EconomicDynamics Interview: Johannes Stroebel on real estate dynamics," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 17(2), November.
    51. Dzsamila Vonnak, 2015. "Decomposing the Riskiness of Corporate Foreign Currency Lending: the Case of Hungary," KRTK-KTI WORKING PAPERS 1528, Institute of Economics, Centre for Economic and Regional Studies.
    52. Andr Kall k Anundsen & Bjørnar Karlsen Kivedal & Erling R ed Larsen & Leif Anders Thorsrud, 2020. "Behavioral changes and policy effects during Covid-19," Working Papers No 07/2020, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    53. Scott R. Baker & Lorenz Kueng & Leslie McGranahan & Brian T. Melzer, 2018. "Do Household Finances Constrain Unconventional Fiscal Policy?," Working Paper Series WP-2018-16, Federal Reserve Bank of Chicago.
    54. Rzeźnik, Aleksandra & Hanley, Kathleen Weiss & Pelizzon, Loriana, 2021. "The salience of ESG ratings for stock pricing: Evidence from (potentially) confused investors," SAFE Working Paper Series 310, Leibniz Institute for Financial Research SAFE, revised 2021.
    55. Jim Been & Susann Rohwedder & Michael Hurd, 2020. "Does Home Production Replace Consumption Spending? Evidence from Shocks in Housing Wealth in the Great Recession," The Review of Economics and Statistics, MIT Press, vol. 102(1), pages 113-128, March.
    56. Sewin Chan & Andrew F. Haughwout & Joseph Tracy, 2015. "How mortgage finance affects the urban landscape," Staff Reports 713, Federal Reserve Bank of New York.
    57. Napoletano, Mauro & Roventini, Andrea & Gaffard, Jean Luc, 2017. "Time-varying fiscal multipliers in an agent-based model with credit rationing," Economics Discussion Papers 2017-112, Kiel Institute for the World Economy.
    58. Sørensen, Bent E & Hryshko, Dmytro & Luengo-Prado, Maria & Demyanyk, Yuliya, 2017. "The Rise and Fall of Consumption in the '00s. A Tangled Tale," CEPR Discussion Papers 12522, Centre for Economic Policy Research.
    59. Francisco Amaral & Martin Dohmen & Sebastian Kohl & Moritz Schularick, 2022. "Interest Rates and the Spatial Polarization of Housing Markets," ECONtribute Discussion Papers Series 212, University of Bonn and University of Cologne, Germany.
    60. Ebrahim, M. Shahid & Shackleton, Mark B. & Wojakowski, Rafal M., 2011. "Participating mortgages and the efficiency of financial intermediation," Journal of Banking & Finance, Elsevier, vol. 35(11), pages 3042-3054, November.
    61. Kasper Kragh Balke & Markus Karlman & Karin Kinnerud, 2025. "Winners and losers from property taxation," Quantitative Economics, Econometric Society, vol. 16(4), pages 1147-1187, November.
    62. Klein, Mathias & Polattimur, Hamza & Winkler, Roland, 2022. "Fiscal spending multipliers over the household leverage cycle," European Economic Review, Elsevier, vol. 141(C).
    63. Xavier Giroud & Holger M. Mueller, 2017. "Firms' Internal Networks and Local Economic Shocks," NBER Working Papers 23176, National Bureau of Economic Research, Inc.
    64. William A. Branch & Nicolas Petrosky-Nadeau & Guillaume Rocheteau, 2014. "Financial Frictions, the Housing Market, and Unemployment," Working Paper Series 2014-26, Federal Reserve Bank of San Francisco.
    65. Veronica Guerrieri & Guido Lorenzoni, 2011. "Credit Crises, Precautionary Savings, and the Liquidity Trap," NBER Working Papers 17583, National Bureau of Economic Research, Inc.
    66. Scott Fulford & Joanna Stavins, 2022. "Does getting a mortgage affect consumer credit use?," Review of Economics of the Household, Springer, vol. 20(3), pages 955-991, September.
    67. S. Boragan Aruoba & Ronel Elul & Sebnem Kalemli Ozcan, 2022. "Housing Wealth and Consumption: The Role of Heterogeneous Credit Constraints," Working Papers 22-34, Federal Reserve Bank of Philadelphia.
    68. Terry J. Fitzgerald & Callum J. Jones & Mariano Kulish & Juan Pablo Nicolini, 2020. "Is There a Stable Relationship between Unemployment and Future Inflation?," Staff Report 614, Federal Reserve Bank of Minneapolis.
    69. Byron F. Lutz & Raven S. Molloy & Hui Shan, 2010. "The housing crisis and state and local government tax revenue: five channels," Finance and Economics Discussion Series 2010-49, Board of Governors of the Federal Reserve System (U.S.).
    70. Vittorio Peretti & Rangan Gupta & Roula Inglesi-Lotz, 2012. "Do House Prices Impact Consumption and Interest Rate in South Africa? Evidence from a Time-Varying Vector Autoregressive Model," Working Papers 201216, University of Pretoria, Department of Economics.
    71. Loutskina, Elena & Strahan, Philip E., 2015. "Financial integration, housing, and economic volatility," Journal of Financial Economics, Elsevier, vol. 115(1), pages 25-41.
    72. Callum Jones & Mariano Kulish & Juan Pablo Nicolini, 2022. "Priors and the Slope of the Phillips Curve," Working Papers 165, Red Nacional de Investigadores en Economía (RedNIE).
    73. Fatih Guvenen, 2011. "Macroeconomics with hetereogeneity : a practical guide," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 97(3Q), pages 255-326.
    74. Ho, Po-Hsin & Huang, Chia-Wei & Lin, Chih-Yung & Yen, Ju-Fang, 2016. "CEO overconfidence and financial crisis: Evidence from bank lending and leverage," Journal of Financial Economics, Elsevier, vol. 120(1), pages 194-209.
    75. Sheridan Titman & Mamoru Nagano & Dong-Ho Yeom, 2014. "Another Determinant of Household Leverage: Evidence from Japan's Mortgage Loan Data," International Review of Finance, International Review of Finance Ltd., vol. 14(1), pages 105-139, March.
    76. Valentina Michelangeli & Enrico Sette, 2016. "How does bank capital affect the supply of mortgages? Evidence from a randomized experiment," Temi di discussione (Economic working papers) 1051, Bank of Italy, Economic Research and International Relations Area.
    77. Brausewetter, Lars & Thomsen, Stephan L. & Trunzer, Johannes, 2022. "Explaining Regional Disparities in Housing Prices across German Districts," IZA Discussion Papers 15199, IZA Network @ LISER.
    78. Dirk G Baur & Isaac Miyakawa, 2014. "The Stock Market, the Real Economy and Contagion," Working Paper Series 179, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    79. Stephen G. Dimmock & William C. Gerken & Tyson Van Alfen, 2021. "Real Estate Shocks and Financial Advisor Misconduct," Journal of Finance, American Finance Association, vol. 76(6), pages 3309-3346, December.
    80. Callum Jones, 2018. "Household Leverage and the Recession," 2018 Meeting Papers 933, Society for Economic Dynamics.
    81. Xavier Giroud & Holger M. Mueller, 2016. "Redistribution of Local Labor Market Shocks through Firms’ Internal Networks," NBER Working Papers 22396, National Bureau of Economic Research, Inc.
    82. Adrian, Tobias & Liang, Nellie, 2016. "Monetary Policy, Financial Conditions, and Financial Stability," CEPR Discussion Papers 11394, Centre for Economic Policy Research.
    83. Dasol Kim & Luke Olson & Toan Phan, 2024. "Bank Competition and Strategic Adaptation to Climate Change," Working Paper 24-06, Federal Reserve Bank of Richmond.
    84. Bahaj, Saleem A. & Foulis, Angus & Pinter, Gabor, 2016. "The residential collateral channel," LSE Research Online Documents on Economics 86240, London School of Economics and Political Science, LSE Library.
    85. Zhang, Dongyang & Guo, Rui, 2020. "The consumption response to household leverage in China: The role of investment at household level," International Review of Financial Analysis, Elsevier, vol. 71(C).
    86. Heiniger, Sandro & Koeniger, Winfried & Lechner, Michael, 2022. "The Heterogeneous Response of Real Estate Asset Prices to a Global Shock," IZA Discussion Papers 15699, IZA Network @ LISER.
    87. James B. Bullard & Aarti Singh, 2016. "Incomplete Credit Markets and Monetary Policy with Heterogeneous Labor Supply : a presentation at Bank of Korea 2016 Conference, Employment and Growth, Seoul, Korea, May 30, 2016," Speech 270, Federal Reserve Bank of St. Louis.
    88. Adam M. Guren & Arvind Krishnamurthy & Timothy J. McQuade, 2018. "Mortgage Design in an Equilibrium Model of the Housing Market," NBER Working Papers 24446, National Bureau of Economic Research, Inc.
    89. Martín, Alberto & Moral-Benito, Enrique & Schmitz, Tom, 2019. "The Financial Transmission of Housing Booms: Evidence from Spain," CEPR Discussion Papers 12999, Centre for Economic Policy Research.
    90. Glancy, David & Kurtzman, Robert & Loewenstein, Lara, 2026. "JUE Insight: Shovel ready projects and commercial construction activity’s long and variable lags," Journal of Urban Economics, Elsevier, vol. 151(C).
    91. Meta Brown & Sarah Stein & Basit Zafar, 2013. "The impact of housing markets on consumer debt: credit report evidence from 1999 to 2012," Staff Reports 617, Federal Reserve Bank of New York.
    92. Merike Kukk, 2015. "How Did Household Indebtedness Hamper Consumption during the Recession? Evidence from Micro Data," a/ Working Papers Series 1505, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    93. Yang, Xintong & Li, Jiao & Yi, Chengdong, 2025. "How demographic changes reshape the housing sector: Evidence from China’s labor allocation and price dynamics," Economic Modelling, Elsevier, vol. 151(C).
    94. Jørgensen, Peter Lihn, 2023. "The global savings glut and the housing boom," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    95. Yuliya Demyanyk & Dmytro Hryshko & María Jose Luengo-Prado & Bent E. Sorensen, 2015. "The Rise and Fall of Consumption in the 2000s," Working Papers (Old Series) 1507, Federal Reserve Bank of Cleveland.
    96. Greenaway-McGrevy, Ryan & Sorensen, Kade, 2021. "A Time-Varying Hedonic Approach to quantifying the effects of loss aversion on house prices," Economic Modelling, Elsevier, vol. 99(C).
    97. Sidharth Moktan & Benjamin Guin & Liam Clarke, 2025. "The anatomy of a shock to residential real estate: the role of lending," Bank of England working papers 1111, Bank of England.
    98. Yunho Cho & James Morley & Aarti Singh, 2024. "Did marginal propensities to consume change with the housing boom and bust?," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 39(1), pages 174-199, January.
    99. Rickman, Dan S. & Guettabi, Mouhcine, 2013. "The Great Recession and Nonmetropolitan America," MPRA Paper 44829, University Library of Munich, Germany.
    100. Xiaoying Deng & Chong Liu & Seow Eng Ong, 2024. "Shadow Bank, Risk-Taking, and Real Estate Financing: Evidence from the Online Loan Market," The Journal of Real Estate Finance and Economics, Springer, vol. 68(1), pages 1-27, January.
    101. Favara, Giovanni & Giannetti, Mariassunta, 2015. "Forced Asset Sales and the Concentration of Outstanding Debt: Evidence from the Mortgage Market," CEPR Discussion Papers 10476, Centre for Economic Policy Research.
    102. Zhengyuan Chai & Yi Yang & Yangyang Zhao & Yonghu Fu & Ling Hao, 2021. "Exploring the Effects of Contextual Factors on Residential Land Prices Using an Extended Geographically and Temporally Weighted Regression Model," Land, MDPI, vol. 10(11), pages 1-20, October.
    103. Lucio Baccaro & Mark Blyth & Jonas Pontusson, 2022. "How should we think about modern capitalism? A growth models approach," Transfer: European Review of Labour and Research, , vol. 28(4), pages 505-513, November.
    104. Grant Graziani & Wilbert Van der Klaauw & Basit Zafar, 2013. "A boost in the paycheck: survey evidence on workers’ response to the 2011 payroll tax cuts," Staff Reports 592, Federal Reserve Bank of New York.
    105. Stockhammer, Engelbert & Wildauer, Rafael, 2017. "Expenditure Cascades, Low Interest Rates or Property Booms? Determinants of Household Debt in OECD countries," Greenwich Papers in Political Economy 18276, University of Greenwich, Greenwich Political Economy Research Centre.
    106. Jeanne, Olivier, 2014. "Macroprudential Policies in a Global Perspective," CEPR Discussion Papers 9875, Centre for Economic Policy Research.
    107. Hilber, Christian A. L. & Turner, Tracy M., 2024. "Land use regulation, homeownership and wealth inequality," LSE Research Online Documents on Economics 126794, London School of Economics and Political Science, LSE Library.
    108. Thomas Chaney & David Sraer & David Thesmar, 2012. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," Post-Print hal-01009900, HAL.
    109. Fiorella De Fiore & Leonardo Gambacorta & Cristina Manea, 2023. "Big techs and the credit channel of monetary policy," BIS Working Papers 1088, Bank for International Settlements.
    110. Wang, Bingbing, 2022. "Housing market volatility under COVID-19: Diverging response of demand in luxury and low-end housing markets," Land Use Policy, Elsevier, vol. 119(C).
    111. Azmat, Saad & Hassan, M. Kabir & Ghaffar, Hamza & Azad, A.S.M. Sohel, 2021. "State contingent banking and asset price bubbles: The case of Islamic banking industry," Global Finance Journal, Elsevier, vol. 50(C).
    112. Fos, Vyacheslav & Hamdi, Naser & Kalda, Ankit & Nickerson, Jordan, 2019. "Gig-Labor: Trading Safety Nets for Steering Wheels," CEPR Discussion Papers 13885, Centre for Economic Policy Research.
    113. Cardaci, Alberto, 2018. "Inequality, household debt and financial instability: An agent-based perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 149(C), pages 434-458.
    114. Huang, Yuting & Li, Qiang & Liow, Kim Hiang & Zhou, Xiaoxia, 2020. "Is Housing the Business Cycle? A Multiresolution Analysis for OECD Countries," Journal of Housing Economics, Elsevier, vol. 49(C).
    115. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.
    116. Allen Head & Amy Hongfei Sun & Chenggang Zhou, 2016. "Default, Mortgage Standards And Housing Liquidity," Working Paper 1359, Economics Department, Queen's University.
    117. Chen, Pu & Wang, Chunyang & Liu, Yangyan, 2015. "Real estate prices and firm borrowings: Micro evidence from China," China Economic Review, Elsevier, vol. 36(C), pages 296-308.
    118. Patrick Kehoe & Pierlauro Lopez & Virgiliu Midrigan & Elena Pastorino, 2020. "On the Importance of Household versus Firm Credit Frictions in the Great Recession," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 34-67, August.
    119. Johannes Ströbel & Joseph Vavra, 2015. "House Prices, Local Demand, and Retail Prices," CESifo Working Paper Series 5607, CESifo.
    120. Julien BENGUI & Toan PHAN, 2018. "Asset Pledgeability and Endogenously Leveraged Bubbles," Cahiers de recherche 07-2018, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    121. Huang, Naqun & Li, Jing & Ross, Amanda, 2018. "The impact of the cost of car ownership on the house price gradient in Singapore," Regional Science and Urban Economics, Elsevier, vol. 68(C), pages 160-171.
    122. Atif Mian & Amir Sufi & Emil Verner, 2020. "How Does Credit Supply Expansion Affect the Real Economy? The Productive Capacity and Household Demand Channels," Journal of Finance, American Finance Association, vol. 75(2), pages 949-994, April.
    123. Yang, Zhenbing & Chen, Zhuo & Shao, Shuai & Yang, Lili, 2022. "Can housing price regulation improve R&D performance in universities? Evidence from China," Socio-Economic Planning Sciences, Elsevier, vol. 82(PA).
    124. Basten, Christoph & Koch, Catherine, 2015. "The causal effect of house prices on mortgage demand and mortgage supply: Evidence from Switzerland," Journal of Housing Economics, Elsevier, vol. 30(C), pages 1-22.
    125. Steven C. Bourassa & Donald R. Haurin, 2017. "A Dynamic Housing Affordability Index," International Real Estate Review, Global Social Science Institute, vol. 20(3), pages 251-286.
    126. Yun K. Kim, 2020. "Household Debt Accumulation and the Great Recession of the United States: A Comparative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(1), pages 26-49, March.
    127. Alexandra Varadi, 2021. "Identifying the transmission channels of credit supply shocks to household debt: price and non-price effects," Bank of England working papers 927, Bank of England.
    128. Rendon, Silvio & Quella, Núria, 2013. "Behind the Great Recession: Job Search and Housing Decisions," IZA Discussion Papers 7773, IZA Network @ LISER.
    129. Hau, Harald & Ouyang, Difei, 2024. "Can real estate booms hurt firms? Evidence on investment substitution," Journal of Urban Economics, Elsevier, vol. 144(C).
    130. Campbell, John Y. & Cocco, Joao F., 2015. "A Model of Mortgage Default," Scholarly Articles 30758219, Harvard University Department of Economics.
    131. Guo, Minjie & McDermott, John, 2020. "Sovereign debt and the length of economic depressions," Economic Modelling, Elsevier, vol. 90(C), pages 79-91.
    132. Alina K Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike I Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," Post-Print hal-05448445, HAL.
    133. Erin McGuire, 2021. "Entrepreneurial experience and firm exit over the business cycle," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(2), pages 308-337, May.
    134. Mayer, Chris & Piskorski, Tomasz & Tchistyi, Alexei, 2013. "The inefficiency of refinancing: Why prepayment penalties are good for risky borrowers," Journal of Financial Economics, Elsevier, vol. 107(3), pages 694-714.
    135. N. Meltem Daysal & Michael F. Lovenheim & David N. Wasser, 2023. "The Intergenerational Transmission of Housing Wealth," CESifo Working Paper Series 10647, CESifo.
    136. Max Breitenlechner & Johann Scharler, 2020. "Private Sector Debt, Financial Constraints, and the Effects of Monetary Policy: Evidence from the US," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(4), pages 889-915, August.
    137. Karlan, Dean S. & Osman, Adam & Zinman, Jonathan, 2013. "Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock," Center Discussion Papers 160523, Yale University, Economic Growth Center.
    138. Nakajima, Jouchi, 2020. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 186-197.
    139. Daepp, Madeleine I.G. & Bunten, Devin Michelle & Hsu, Joanne W., 2023. "The Effect of Racial Composition on Neighborhood Housing Prices: Evidence from Hurricane Katrina-Induced Migration," Journal of Urban Economics, Elsevier, vol. 134(C).
    140. Sari Kerr & William R. Kerr & Ramana Nanda, 2015. "House Prices, Home Equity and Entrepreneurship: Evidence from U.S. Census Micro Data," NBER Working Papers 21458, National Bureau of Economic Research, Inc.
    141. Dasol Kim & Luke M. Olson & Toan Phan, 2024. "Bank Competition and Strategic Adaptation to Climate Change," Working Papers 24-03, Office of Financial Research, US Department of the Treasury.
    142. Francesco D’Acunto & Daniel Hoang & Michael Weber, 2016. "The Effect of Unconventional Fiscal Policy on Consumption Expenditure," NBER Working Papers 22563, National Bureau of Economic Research, Inc.
    143. Anil Kumar, 2014. "Do restrictions on home equity extraction contribute to lower mortgage defaults? evidence from a policy discontinuity at the Texas border," Working Papers 1410, Federal Reserve Bank of Dallas.
    144. Lu Han & Chandler Lutz & Benjamin Sand & Derek Stacey, 2018. "Do Financial Constraints Cool a Housing Boom?," Working Papers 073, Toronto Metropolitan University, Department of Economics.
    145. Saleem Bahaj & Angus Foulis & Gabor Pinter & Paolo Surico, 2019. "Employment and the collateral channel of monetary policy," Bank of England working papers 827, Bank of England.
    146. Yuming Fu & Wenlan Qian & Bernard Yeung, 2013. "Speculative Investors and Tobin's Tax in the Housing Market," NBER Working Papers 19400, National Bureau of Economic Research, Inc.
    147. Zuzana Košťálová & Eva Horvátová & Štefan Lyócsa & Peter Gernát, 2022. "New Credit Drivers: Results from a Small Open Economy," Eastern European Economics, Taylor & Francis Journals, vol. 60(1), pages 79-112, January.
    148. Rowena Gray & Greg C. Wright, 2022. "A Rising Tide? The Local Incidence of the Second Wave of Globalization," CESifo Working Paper Series 9725, CESifo.
    149. Glaeser, Edward L. & Nathanson, Charles G., 2017. "An extrapolative model of house price dynamics," Journal of Financial Economics, Elsevier, vol. 126(1), pages 147-170.
    150. Judith Scott-Clayton & Basit Zafar, 2016. "Financial aid, debt management, and socioeconomic outcomes: post-college effects of merit-based aid," Staff Reports 791, Federal Reserve Bank of New York.
    151. Chi‐Young Choi & Soojin Jo, 2026. "How Do Housing Markets Affect Local Consumer Prices?: Evidence from U.S. Cities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(3), pages 853-884, April.
    152. Wang, Pengfei & Xu, Lifang & Xu, Zhiwei, 2025. "Borrowing constraints, financial development and the aggregate savings: Theory and evidence," Emerging Markets Review, Elsevier, vol. 66(C).
    153. Bruno Albuquerque, 2021. "Corporate debt booms, financial constraints and the investment nexus," Bank of England working papers 935, Bank of England.
    154. Schularick, Moritz & Wachtel, Paul, 2012. "The making of America's imbalances," Discussion Papers 2012/16, Free University Berlin, School of Business & Economics.
    155. Ebner, André, 2013. "A micro view on home equity withdrawal and its determinants: Evidence from Dutch households," Journal of Housing Economics, Elsevier, vol. 22(4), pages 321-337.
    156. Yue, Pengpeng & Korkmaz, Aslihan Gizem & Yin, Zhichao & Zhou, Haigang, 2022. "The rise of digital finance: Financial inclusion or debt trap?," Finance Research Letters, Elsevier, vol. 47(PA).
    157. Xun Bian & Zhenguo Lin & Feifei Zhu, 2024. "Housing leverage, home value, and retirement," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 52(4), pages 1103-1139, July.
    158. Alessia De Stefani, 2021. "House price history, biased expectations, and credit cycles: The role of housing investors," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(4), pages 1238-1266, December.
    159. Iñaki Aldasoro & Sebastian Doerr, 2025. "Collateralized lending in private credit," BIS Working Papers 1267, Bank for International Settlements.
    160. Koller, Julian & Stefanova, Stefani, 2025. "Spatial Spillovers of Local Trade Shocks: Estimation and Distributional Consequences," MPRA Paper 128159, University Library of Munich, Germany.
    161. Qian, Wei, 2025. "House price expectations and household spending— A survey-based experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 235(C).
    162. Joshua Goodman & Adam Levitin, 2014. "Bankruptcy Law and the Cost of Credit: The Impact of Cramdown on Mortgage Interest Rates," Journal of Law and Economics, University of Chicago Press, vol. 57(1), pages 139-158.
    163. Francesco D'Acunto & Daniel Hoang & Michael Weber & Michael Weber, 2019. "Managing Households' Expectations with Salient Economic Policies," CESifo Working Paper Series 7793, CESifo.
    164. Baccaro, Lucio & Howell, Chris, 2017. "Unhinged: Industrial relations liberalization and capitalist instability," MPIfG Discussion Paper 17/19, Max Planck Institute for the Study of Societies.
    165. Dimitris Christelis & Michael Ehrmann & Dimitris Georgarakos, 2015. "Exploring Differences in Household Debt Across Euro Area Countries and the United States," Staff Working Papers 15-16, Bank of Canada.
    166. Boragan Aruoba & Morris Davis & Randall Wright, 2016. "Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 105-124, July.
    167. Hull, Isaiah, 2014. "The Macro-Financial Implications of House Price-Indexed Mortgage Contracts," Working Paper Series 287, Sveriges Riksbank (Central Bank of Sweden).
    168. Luojia Hu & Xing Huang & Andrei Simonov, 2020. "Credit Score Doctors," Working Paper Series WP 2020-07, Federal Reserve Bank of Chicago.
    169. Endres, Lukas & Behringer, Jan & van Treeck, Till, 2023. "Income Inequality, Consumption and Status Competition in Germany," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277689, Verein für Socialpolitik / German Economic Association.
    170. Dietsch, Michel & Petey, Joël, 2015. "The credit-risk implications of home ownership promotion: The effects of public subsidies and adjustable-rate loans," Journal of Housing Economics, Elsevier, vol. 28(C), pages 103-120.
    171. Thais Lærkholm Jensen & Søren Leth-Petersen & Ramana Nanda, 2014. "Financing Constraints, Home Equity and Selection into Entrepreneurship," NBER Working Papers 20583, National Bureau of Economic Research, Inc.
    172. Yu Zhu & Randall Wright & Chao He, 2012. "Housing and Liquidity," 2012 Meeting Papers 94, Society for Economic Dynamics.
    173. Cincinelli, Peter & Pellini, Elisabetta & Urga, Giovanni, 2024. "Is there an optimal level of leverage? The case of banks and non-bank institutions in Europe," International Review of Financial Analysis, Elsevier, vol. 94(C).
    174. Jennifer Brown & David A. Matsa, 2016. "Locked in by Leverage: Job Search during the Housing Crisis," NBER Working Papers 22929, National Bureau of Economic Research, Inc.
    175. Zhu, Bing & Betzinger, Michael & Sebastian, Steffen, 2017. "Housing market stability, mortgage market structure, and monetary policy: Evidence from the euro area," Journal of Housing Economics, Elsevier, vol. 37(C), pages 1-21.
    176. Diamond, William & Landvoigt, Tim, 2022. "Credit cycles with market-based household leverage," Journal of Financial Economics, Elsevier, vol. 146(2), pages 726-753.
    177. Bordo, Michael D. & Duca, John V. & Koch, Christoffer, 2016. "Economic policy uncertainty and the credit channel: Aggregate and bank level U.S. evidence over several decades," Journal of Financial Stability, Elsevier, vol. 26(C), pages 90-106.
    178. Jörg Bibow, 2010. "Alternative Strategien der Budgetkonsolidierung in Österreich nach der Rezession," IMK Studies 03-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    179. Dag Einar Sommervoll & Jan de Haan, 2014. "Homes and Castles: Should We Care about Idiosyncratic Risk?," Land Economics, University of Wisconsin Press, vol. 90(4), pages 700-716.
    180. Christoffer Koch & Julieta Yung, 2016. "Macroeconomic news and asset prices before and after the zero lower bound," Globalization Institute Working Papers 287, Federal Reserve Bank of Dallas.
    181. Li, Han & Li, Jiangyi & Lu, Yi & Xie, Huihua, 2020. "Housing wealth and labor supply: Evidence from a regression discontinuity design," Journal of Public Economics, Elsevier, vol. 183(C).
    182. Jaccard, Ivan, 2021. "Leveraged property cycles," Working Paper Series 2539, European Central Bank.
    183. Vedanta Dhamija & Ricardo Nunes & Roshni Tara, 2025. "House Price Expectations and Inflation Expectations: Evidence from Survey Data," Economics Series Working Papers 1069, University of Oxford, Department of Economics.
    184. Kim Kaivanto, 2014. "Visceral emotions, within-community communication, and (ill-judged) endorsement of financial propositions," Working Papers 69123498, Lancaster University Management School, Economics Department.
    185. Yvan Becard & David Gauthier, 2021. "Banks, shadow banks, and business cycles," Bank of England working papers 907, Bank of England.
    186. Zhu, Haikun, 2018. "Essays on political economy of finance and fintech," Other publications TiSEM 93f94423-e671-4041-bb24-8, Tilburg University, School of Economics and Management.
    187. Jean Imbs & Giovanni Favara, 2011. "Credit Supply and the Price of Housing," 2011 Meeting Papers 1342, Society for Economic Dynamics.
    188. Sheng Guo, 2021. "What Did Homeowners Do with Home Equity Borrowing? Contemporaneous and Long-term Effects," Working Papers 2122, Florida International University, Department of Economics.
    189. Steven Laufer, 2018. "Equity Extraction and Mortgage Default," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 1-33, April.
    190. Sergi Basco & Jair N. Ojeda-Joya, 2024. "House Prices and International Remittances: Evidence from Colombia," Borradores de Economia 1273, Banco de la Republica de Colombia.
    191. Hassink, Wolter & Millone, Matteo & Mocking, Remco & Vogt, Benedikt, 2021. "Home Ownership and Home Equity Promote Entrepreneurial Activity," IZA Discussion Papers 14170, IZA Network @ LISER.
    192. Anenberg, Elliot & Ringo, Daniel, 2024. "Volatility in Home Sales and Prices: Supply or Demand?," Journal of Urban Economics, Elsevier, vol. 139(C).
    193. Florian Huber & Maria Teresa Punzi, 2016. "International Housing Markets, Unconventional Monetary Policy and the Zero Lower Bound," Department of Economics Working Papers wuwp216, Vienna University of Economics and Business, Department of Economics.
    194. Gambacorta, Leonardo & Huang, Yiping & Li, Zhenhua & Qiu, Han & Chen, Shu, 2020. "Data vs collateral," CEPR Discussion Papers 15262, Centre for Economic Policy Research.
    195. Hintermaier, Thomas & Koeniger, Winfried, 2019. "Differences in Euro-Area Household Finances and their Relevance for Monetary-Policy Transmission," IZA Discussion Papers 12743, IZA Network @ LISER.
    196. Nicholas Kacher & Luke Petach, 2021. "Boon or Burden? Evaluating the Competing Effects of House-Price Shocks on Regional Entrepreneurship," Economic Development Quarterly, , vol. 35(4), pages 287-304, November.
    197. Berrak Bahadir & Inci Gumus, 2021. "House Prices, Collateral Effects and Sectoral Output Dynamics in Emerging Market Economies," Working Papers 2105, Florida International University, Department of Economics.
    198. Daniel I. García, 2018. "Employment in the Great Recession : How Important Were Household Credit Supply Shocks?," Finance and Economics Discussion Series 2018-074, Board of Governors of the Federal Reserve System (U.S.).
    199. Ms. Rima A Turk, 2015. "Housing Price and Household Debt Interactions in Sweden," IMF Working Papers 2015/276, International Monetary Fund.
    200. Klein, Mathias, 2016. "Austerity and private debt," Ruhr Economic Papers 642, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    201. Xiaoqing Zhou, 2018. "Home Equity Extraction and the Boom-Bust Cycle in Consumption and Residential Investment," 2018 Meeting Papers 795, Society for Economic Dynamics.
    202. Lu Zhang, 2019. "Do house prices matter for household consumption?," CPB Discussion Paper 396, CPB Netherlands Bureau for Economic Policy Analysis.
    203. Manconi, Alberto & Braggion, Fabio & Zhu, Haikun, 2018. "Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China," CEPR Discussion Papers 12668, Centre for Economic Policy Research.
    204. Manuel Adelino & W. Ben McCartney & Antoinette Schoar, 2020. "The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market," Working Papers 20-40, Federal Reserve Bank of Philadelphia.
    205. Jie Li & Sheng Li & Alice Y. Ouyang, 2023. "Housing and Wealth Inequality: The Role of Financial Market Participation," Annals of Economics and Finance, Society for AEF, vol. 24(1), pages 141-170, May.
    206. Cloudio Kumbirai Chikeya & Lungile Ntsalaze, 2025. "Determinants of Household Debt: A Systematic Review of the Literature," Economies, MDPI, vol. 13(3), pages 1-36, March.
    207. Guedes, Ricardo & Iachan, Felipe & Sant'Anna, Marcelo, 2021. "Housing Supply in the Presence of Informality," SocArXiv mvhnf, Center for Open Science.
    208. Vicente Cuñat & Dragana Cvijanović & Kathy Yuan, 2018. "Within-Bank Spillovers of Real Estate Shocks," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 7(2), pages 157-193.
    209. Adam M. Guren & Timothy J. McQuade, 2019. "How Do Foreclosures Exacerbate Housing Downturns?," NBER Working Papers 26216, National Bureau of Economic Research, Inc.
    210. Ghysels, Eric & Plazzi, Alberto & Valkanov, Rossen & Torous, Walter, 2013. "Forecasting Real Estate Prices," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 509-580, Elsevier.
    211. Greg Howard & Jack Liebersohn, 2023. "Regional Divergence and House Prices," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 312-350, July.
    212. Shang, Longfei & Saffar, Walid, 2023. "Employment Protection and Household Mortgage Debt," Journal of Banking & Finance, Elsevier, vol. 149(C).
    213. Elora Raymond, 2016. "Negative equity in the Sixth Federal Reserve District," FRB Atlanta Community and Economic Development Discussion Paper 2016-1, Federal Reserve Bank of Atlanta.
    214. Venky Venkateswaran & Randall Wright, 2013. "Pledgability and Liquidity: A New Monetarist Model of Financial and Macroeconomic Activity," NBER Chapters, in: NBER Macroeconomics Annual 2013, Volume 28, pages 227-270, National Bureau of Economic Research, Inc.
    215. Caporale, Guglielmo Maria & Costantini, Mauro & Paradiso, Antonio, 2013. "Re-examining the decline in the US saving rate: The impact of mortgage equity withdrawal," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 26(C), pages 215-225.
    216. Yvonne McCarthy & Kieran McQuinn, 2017. "Deleveraging in a Highly Indebted Property Market: Who does it and are there Implications for Household Consumption?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 63(1), pages 95-117, March.
    217. Robert Hetzel, 2018. "Some Like the Economy Hot: Or, Reviving the Monetarist/Keynesian Debate," Studies in Applied Economics 110, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    218. Lozano Navarro, Francisco-Javier & Idrovo Aguirre, Byron, 2023. "Shocks regulatorios al mercado inmobiliario de Chile: ¿Cuánto del IVA a la vivienda se transfiere a precio de venta? [Regulatory shocks to housing market: How much of the Chilean VAT on housing sales is transferred to prices?]," MPRA Paper 120017, University Library of Munich, Germany.
    219. Gauti Eggertsson & Federica Romei & Pierpaolo Benigno, 2015. "Dynamic Debt Deleveraging and Optimal Monetary Policy," 2015 Meeting Papers 390, Society for Economic Dynamics.
    220. Elisabeth Beckmann & Söhnke Bergmann & Christa Hainz & Sarah Kiesl-Reiter, 2025. "Legal Risks and Social Bonds: How Does Information About Risks Affect the Willingness to Grant a Third-Party Loan Guarantee?," CESifo Working Paper Series 12022, CESifo.
    221. Koetter, M. & Marek, P. & Mavropoulos, A., 2025. "Real estate transaction taxes and credit supply," Journal of Financial Stability, Elsevier, vol. 80(C).
    222. Elliot Anenberg & Patrick Bayer, 2013. "Endogenous Sources of Volatility in Housing Markets: The Joint Buyer-Seller Problem," NBER Working Papers 18980, National Bureau of Economic Research, Inc.
    223. Harald Hau & Difei Ouyang, 2019. "Local Capital Scarcity and Small Firm Growth: Evidence from Real Estate Booms in China," CESifo Working Paper Series 7928, CESifo.
    224. Daysal, N. Meltem & Lovenheim, Michael F. & Siersbæk, Nikolaj & Wasser, David N., 2020. "Home Prices, Fertility, and Early-Life Health Outcomes," IZA Discussion Papers 13417, IZA Network @ LISER.
    225. Wayne Passmore & Shane M. Sherlund, 2021. "FHA, Fannie Mae, Freddie Mac and the Great Recession," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(3), pages 733-777, September.
    226. Freyssenet, Michel & Jetin, Bruno, 2011. "Conséquence de la crise financière ou crise d’une forme de capitalisme : la faillite des Big Three," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 9.
    227. Sheung-Chi Chow & Juncal Cunado & Rangan Gupta & Wing-Keung Wong, 2016. "Causal Relationships between Economic Policy Uncertainty and Housing Market Returns in China and India: Evidence from Linear and Nonlinear Panel and Time Series Models," Working Papers 201674, University of Pretoria, Department of Economics.
    228. Emanuel Kohlscheen, 2025. "Forecasting House Prices," Papers 2509.21460, arXiv.org, revised Feb 2026.
    229. Zhenyu Gao & Michael Sockin & Wei Xiong, 2020. "Learning about the Neighborhood," NBER Working Papers 26907, National Bureau of Economic Research, Inc.
    230. Monika Piazzesi & Martin Schneider & Johannes Stroebel, 2015. "Segmented Housing Search," NBER Working Papers 20823, National Bureau of Economic Research, Inc.
    231. Daniel I. García, 2022. "Second‐home buying and the housing boom and bust," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 33-58, March.
    232. Tim Landvoigt, 2010. "Housing Demand during the Boom: The Role of Expectations and Credit Constraints," 2010 Meeting Papers 1022, Society for Economic Dynamics.
    233. Eleonora Brandimarti & Giacomo De Giorgi & Jeremy Laurent-Lucchetti, 2024. "Credit and Voting," Papers 2407.06808, arXiv.org.
    234. Piskorski, Tomasz & Seru, Amit, 2021. "Debt relief and slow recovery: A decade after Lehman," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1036-1059.
    235. D'Orazio, Paola, 2019. "Income inequality, consumer debt, and prudential regulation: An agent-based approach to study the emergence of crises and financial instability," Economic Modelling, Elsevier, vol. 82(C), pages 308-331.
    236. Banuri, Sheheryar & Nguyen, Ha, 2023. "Borrowing to keep up (with the Joneses): Inequality, debt, and conspicuous consumption," Journal of Economic Behavior & Organization, Elsevier, vol. 206(C), pages 222-242.
    237. Mattia Guerini & Alessio Moneta & Mauro Napoletano & Andrea Roventini, 2017. "The Janus-faced nature of debt : results form a data driven cointegrated SVAR approach," Working Papers hal-03457555, HAL.
    238. Mathias Klein, 2016. "Austerity and Private Debt," Discussion Papers of DIW Berlin 1611, DIW Berlin, German Institute for Economic Research.
    239. Mueller, Holger & Giroud, Xavier, 2016. "Redistribution of Local Demand Shocks through Firms' Internal Networks," CEPR Discussion Papers 11384, Centre for Economic Policy Research.
    240. Stephen Millard & Alexandra Varadi & Eran Yashiv, 2018. "Shock transmission and the interaction of financial and hiring frictions," Bank of England working papers 769, Bank of England.
    241. Hodula, Martin & Pfeifer, Lukáš & Ngo, Ngoc Anh, 2025. "Easing of borrower-based measures: Evidence from Czech loan-level data," Journal of Banking & Finance, Elsevier, vol. 178(C).
    242. Suari-Andreu, Eduard, 2021. "Housing and household consumption: An investigation of the wealth and collateral effects," Journal of Housing Economics, Elsevier, vol. 54(C).
    243. Liu, Shimeng & Zhang, Sisi, 2021. "Housing wealth changes and entrepreneurship: Evidence from urban China," China Economic Review, Elsevier, vol. 69(C).
    244. Neil Bhutta & Benjamin J. Keys, 2016. "Interest Rates and Equity Extraction during the Housing Boom," American Economic Review, American Economic Association, vol. 106(7), pages 1742-1774, July.
    245. von Lilienfeld-Toal, Ulf & Mookherjee, Dilip, 2011. "How Did the US Housing Slump Begin? The Role of the 2005 Bankruptcy Reform," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48726, Verein für Socialpolitik / German Economic Association.
    246. Shi, Yining, 2022. "Financial liberalization and house prices: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 145(C).
    247. Mauro Napoletano & Andrea Roventini & Jean Luc Gaffard, 2015. "Toward a low carbon growth in Mexico : is a double dividend possible ? A dynamic general equilibrium assessment," Documents de Travail de l'OFCE 2015-25, Observatoire Francais des Conjonctures Economiques (OFCE).
    248. Jiang, Erica Xuewei & Zhang, Anthony Lee, 2025. "Collateral value uncertainty and mortgage credit provision," Journal of Financial Economics, Elsevier, vol. 169(C).
    249. Sebastian Stumpner, 2014. "Trade and the Geographic Spread of the Great Recession," 2014 Meeting Papers 638, Society for Economic Dynamics.
    250. Avril, Pauline & Levieuge, Grégory & Turcu, Camelia, 2025. "Natural disasters and financial stress: can macroprudential regulation tame green swans?," Journal of International Money and Finance, Elsevier, vol. 154(C).
    251. Knut Are Aastveit & Ragnar Enger Juelsrud & Ella Getz Wold, 2023. "The leverage-liquidity trade-of mortgage regulation," Working Papers 04/2023, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    252. Callum Jones & Mr. Pau Rabanal, 2021. "Credit Cycles, Fiscal Policy, and Global Imbalances," IMF Working Papers 2021/043, International Monetary Fund.
    253. Arun Gupta & Horacio Sapriza & Vladimir Yankov, 2022. "The Collateral Channel and Bank Credit," Working Paper 22-04, Federal Reserve Bank of Richmond.
    254. Laeven, Luc & Popov, Alexander & Sievert, Clara, 2024. "Is religion an inferior good? Evidence from fluctuations in housing wealth," Journal of Economic Behavior & Organization, Elsevier, vol. 217(C), pages 705-725.
    255. Daisuke Ikeda & Toan Phan, 2016. "Toxic asset bubbles," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(2), pages 241-271, February.
      • Daisuke Ikeda & Toan Phan, 2016. "Toxic asset bubbles," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(2), pages 241-271, February.
    256. Natee Amornsiripanitch & David Wylie, 2025. "What Is My Home Worth?," Working Papers 25-40, Federal Reserve Bank of Philadelphia.
    257. Wu, Yan & Heerink, Nico & Yu, Linhui, 2020. "Real estate boom and resource misallocation in manufacturing industries: Evidence from China," China Economic Review, Elsevier, vol. 60(C).
    258. Atif Mian, 2013. "Monetary Policy and Macro-Prudential Regulation: The Risk-Sharing Paradigm," Working Papers Central Bank of Chile 713, Central Bank of Chile.
    259. Hintermaier, Thomas & Koeniger, Winfried, 2015. "Household debt and crises of confidence," CFS Working Paper Series 519, Center for Financial Studies (CFS).
    260. Marius M. Mihai, 2020. "Do credit booms predict US recessions?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 39(6), pages 887-910, September.
    261. Essi Eerola, 2019. "Macroprudential Measures and Taxation in the Housing Markets," EconPol Policy Brief 17, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    262. Francis Wong, 2024. "Taxing Homeowners Who Won’t Borrow," CESifo Working Paper Series 11185, CESifo.
    263. Chen, Ting & Kung, J.K.-S., 2016. "Do land revenue windfalls create a political resource curse? Evidence from China," Journal of Development Economics, Elsevier, vol. 123(C), pages 86-106.
    264. Luke Petach, 2020. "Local financialization, household debt, and the great recession," Papers in Regional Science, Wiley Blackwell, vol. 99(3), pages 807-839, June.
    265. Manconi, Alberto & Massa, Massimo & Yasuda, Ayako, 2010. "The Behavior of Intoxicated Investors: The Role of Institutional Investors in Propagating the Crisis of 2007-2008," Working Papers 10-22, University of Pennsylvania, Wharton School, Weiss Center.
    266. Knut Are Aastveit & Ragnar Enger Juelsrud & Ella Getz Wold, 2021. "The household effects of mortgage regulation," Working Papers No 07/2021, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    267. Hashmat Khan & Jean-François Rouillard & Santosh Upadhayaya, 2020. "Consumer Confidence and Household Investment," Cahiers de recherche 20-15, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    268. Bing Lu & Xiaofen Tan & Jinhui Zhang, 2019. "The crowding out effect of booming real estate markets on corporate TFP: evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(5), pages 1319-1345, March.
    269. Carlos Canizares Martinez, 2023. "Leaning against housing booms fueled by credit," Working Papers 513, University of Milano-Bicocca, Department of Economics.
    270. Francesco Caloia, 2022. "Borrower-Based Measures, House Prices and Household Debt," Working Papers 738, DNB.
    271. Costas Azariadis & James B. Bullard & Aarti Singh & Jacek Suda, 2015. "Incomplete Credit Markets and Monetary Policy," Working Papers 2015-10, Federal Reserve Bank of St. Louis.
    272. López-Buenache, Germán & Borsi, Mihály Tamás & Rosa-García, Alfonso, 2025. "Credit cycles as predictors of labor market slack: Evidence from the U․S․," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1097-1111.
    273. Kim, Hyeongjun & Cho, Hoon & Ryu, Doojin, 2018. "An empirical study on credit card loan delinquency," Economic Systems, Elsevier, vol. 42(3), pages 437-449.
    274. Hassnae Hammou Ou Ali, 2025. "Monetary policy and real estate asset prices in Morocco," IHEID Working Papers 03-2025, Economics Section, The Graduate Institute of International Studies, revised 04 Mar 2025.
    275. Martin Harding & Mathias Klein, 2019. "Monetary Policy and Household Deleveraging," Discussion Papers of DIW Berlin 1806, DIW Berlin, German Institute for Economic Research.
    276. Kartashova, Katya & Tomlin, Ben, 2017. "House prices, consumption and the role of non-Mortgage debt," Journal of Banking & Finance, Elsevier, vol. 83(C), pages 121-134.
    277. Tzu-Ting Yang, 2016. "Family Labor Supply and the Timing of Cash Transfers: Evidence from the Earned Income Tax Credit," IEAS Working Paper : academic research 16-A012, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    278. Sergi Basco & David López-Rodríguez & Enrique Moral-Benito, 2021. "House prices and misallocation: The impact of the collateral channel on productivity," Working Papers 2135, Banco de España.
    279. Partridge, Mark & Rickman, Dan & Tan, Ying & Olfert, M. Rose, 2013. "U.S. Regional Poverty Post-2000: The Lost Decade," MPRA Paper 48528, University Library of Munich, Germany.
    280. Hyunseung Oh & Chamna Yoon, 2016. "Residential construction lags across the US and their implications for housing supply," Vanderbilt University Department of Economics Working Papers 16-00002, Vanderbilt University Department of Economics.
    281. Rudiger Ahrend & Antoine Goujard, 2012. "International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk?: Evidence from Past Crises Across OECD and Emerging Economies," OECD Economics Department Working Papers 966, OECD Publishing.
    282. Mueller, Holger M. & Yannelis, Constantine, 2019. "The rise in student loan defaults," Journal of Financial Economics, Elsevier, vol. 131(1), pages 1-19.
    283. Clément Bellet, 2017. "Essays on inequality, social preferences and consumer behavior [Inégalités, préférences sociales et comportement du consommateur]," Sciences Po Economics Publications (main) tel-03455045, HAL.
    284. Brown, Xin, 2023. "Labor market impacts of state-level occupational licensing of undocumented immigrants," Research in Economics, Elsevier, vol. 77(4), pages 478-496.
    285. Chen, Xin & Qin, Yaohua & Xiao, He & Zhang, Yifei, 2019. "Microfinancing and Home-purchase Restrictions: Evidence from the Online “Peer-to-Peer” Lending in China," MPRA Paper 95375, University Library of Munich, Germany.
    286. Manuel Adelino & Song Ma & David T. Robinson, 2014. "Firm Age, Investment Opportunities, and Job Creation," NBER Working Papers 19845, National Bureau of Economic Research, Inc.
    287. Margaris, Aristotelis, 2024. "Monetary policy and house price heterogeneity: Evidence from the U.K," Economics Letters, Elsevier, vol. 244(C).
    288. Xu, Yuanwei & Wang, Feicheng, 2022. "The health consequence of rising housing prices in China," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 114-137.
    289. Alban Moura & Olivier Pierrard, 2022. "How well do DSGE models with real estate and collateral constraints fit the data?," BCL working papers 168, Central Bank of Luxembourg.
    290. Matteo Benetton & Marianna Kudlyak & John Mondragon, 2024. "Dynastic Home Equity," Working Paper Series 2022-13, Federal Reserve Bank of San Francisco.
    291. Zhechun He & Peter Simmons, 2018. "A Life Cycle Model with Housing Tenure, Constrained Mortgage Finance and a Risky Asset under Uncertainty," Discussion Papers 18/18, Department of Economics, University of York.
    292. Christopher Hansman & Harrison Hong & Wenxi Jiang & Yu-Jane Liu & Juan-Juan Meng, 2018. "Effects of Credit Expansions on Stock Market Booms and Busts," NBER Working Papers 24586, National Bureau of Economic Research, Inc.
    293. Ruth Ben‐Yashar & Miriam Krausz & Shmuel Nitzan, 2018. "Government loan guarantees and the credit decision‐making structure," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(2), pages 607-625, May.
    294. Bingbing Wang, 2021. "How Does COVID-19 Affect House Prices? A Cross-City Analysis," JRFM, MDPI, vol. 14(2), pages 1-15, January.
    295. Elton Dusha & Alexandre Janiak, 2018. "On the dynamics of asset prices and liquidity: the role of search frictions and idiosyncratic shocks," 2018 Meeting Papers 524, Society for Economic Dynamics.
    296. Meta Brown & John Grigsby & Wilbert Van der Klaauw & Jaya Wen & Basit Zafar, 2013. "Financial education and the debt behavior of the young," Staff Reports 634, Federal Reserve Bank of New York.
    297. Marco Angrisani & Michael D. Hurd & Susann Rohwedder, 2015. "The Effect of Housing and Stock Wealth Losses on Spending in the Great Recession," Working Papers WR-1101, RAND Corporation.
    298. Lingxiao Li & Bing Zhu, 2020. "Housing Wealth, Consumption Channels and Mortgage Liberalization," International Real Estate Review, Global Social Science Institute, vol. 23(4), pages 433-465.
    299. Popov, Alexander & Laeven, Luc, 2016. "Waking up from the American dream: on the experience of young Americans during the housing boom of the 2000s," Working Paper Series 1910, European Central Bank.
    300. Jonathan Zinman, 2014. "Consumer Credit: Too Much or Too Little (or Just Right)?," The Journal of Legal Studies, University of Chicago Press, vol. 43(S2), pages 209-237.
    301. Samuel Dodini & Donald R. Haurin & Stephanie Moulton & Maximilian D. Schmeiser, 2015. "How House Price Dynamics and Credit Constraints affect the Equity Extraction of Senior Homeowners," Finance and Economics Discussion Series 2015-70, Board of Governors of the Federal Reserve System (U.S.).
    302. Beatrice D. Simo-Kengne & Rangan Gupta & Manoel Bittencourt, 2013. "The Impact of House Prices on Consumption in South Africa: Evidence from Provincial-Level Panel VARs," Housing Studies, Taylor & Francis Journals, vol. 28(8), pages 1133-1154, November.
    303. Yuan Xu & Hong Ma & Robert Feenstra, 2023. "Magnification of the ‘China shock’ through the U.S. housing market," Review of International Economics, Wiley Blackwell, vol. 31(5), pages 1864-1893, November.
    304. Julia Giese & Henrik Andersen & Oliver Bush & Christian Castro & Marc Farag & Sujit Kapadia, 2014. "The Credit‐To‐Gdp Gap And Complementary Indicators For Macroprudential Policy: Evidence From The Uk," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 19(1), pages 25-47, January.
    305. Chen, Chuna & Tan, Zhuomin & Liu, Song, 2024. "How does financial literacy affect households’ financial fragility? The role of insurance awareness," International Review of Economics & Finance, Elsevier, vol. 95(C).
    306. Xuewen Liu & Pengfei Wang & Sichuang Xu, 2024. "Asset‐Market Sentiments And Business Cycle Fluctuations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(4), pages 1795-1819, November.
    307. Joel A. Elvery & Mark E. Schweitzer, 2020. "Partially Disaggregated Household‐Level Debt Service Ratios: Construction, Validation, And Relationship To Bankruptcy Rates," Contemporary Economic Policy, Western Economic Association International, vol. 38(1), pages 166-187, January.
    308. Anna Pestova & Alexander Popov, 2026. "Housing Bust and Long-Term Human Capital Scarring in the U.S," CERGE-EI Working Papers wp817, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    309. James B. Bullard, 2014. "Income inequality and monetary policy: a framework with answers to three questions," Speech 235, Federal Reserve Bank of St. Louis.
    310. Luo, Yongmin & Ding, Shenqi & Luo, Xi & Wang, Lujun, 2026. "Has land finance driven China’s economic growth? Evidence from a quantitative counterfactual analysis," World Development, Elsevier, vol. 200(C).
    311. Wong, Maisy, 2014. "Estimating the distortionary effects of ethnic quotas in Singapore using housing transactions," Journal of Public Economics, Elsevier, vol. 115(C), pages 131-145.
    312. Rong, Zhao & Leng, Fei & Ma, Jun & Ni, Jinlan, 2024. "Real estate depreciation and cash policy for innovative firms," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    313. Gathergood, John, 2012. "How do consumers respond to house price declines?," Economics Letters, Elsevier, vol. 115(2), pages 279-281.
    314. Scott L. Fulford & Joanna Stavins, 2019. "Does getting a mortgage affect credit card use?," Working Papers 19-8, Federal Reserve Bank of Boston.
    315. van Dijk Herman K., 2024. "Challenges and Opportunities for Twenty First Century Bayesian Econometricians: A Personal View," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 28(2), pages 155-176, April.
    316. Tomasz Piskorski & Amit Seru & James Witkin, 2013. "Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market," NBER Working Papers 18843, National Bureau of Economic Research, Inc.
    317. Zhifeng Cai, 2020. "Secular Stagnation, Financial Frictions, and Land Prices," Departmental Working Papers 202001, Rutgers University, Department of Economics.
    318. Bronson Argyle & Taylor Nadauld & Christopher Palmer & Ryan Pratt, 2021. "The Capitalization of Consumer Financing into Durable Goods Prices," Journal of Finance, American Finance Association, vol. 76(1), pages 169-210, February.
    319. Marco Di Maggio & Amir Kermani & Christopher Palmer, 2016. "How Quantitative Easing Works: Evidence on the Refinancing Channel," NBER Working Papers 22638, National Bureau of Economic Research, Inc.
    320. Richard Disney & John Gathergood, 2018. "House Prices, Wealth Effects and Labour Supply," Economica, London School of Economics and Political Science, vol. 85(339), pages 449-478, July.
    321. Disney Richard & Gathergood John, 2011. "House Price Growth, Collateral Constraints and the Accumulation of Homeowner Debt in the United States," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-30, September.
    322. Rebecca Diamond, 2017. "Housing Supply Elasticity and Rent Extraction by State and Local Governments," American Economic Journal: Economic Policy, American Economic Association, vol. 9(1), pages 74-111, February.
    323. Kim, Young Il & Kim, Hyoung Chan & Yoo, Joo Hee, 2016. "Household Over-indebtedness and Financial Vulnerability in Korea: Evidence from Credit Bureau Data," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 38(3), pages 53-77.
    324. Sarena Goodman & Adam Isen & Constantine Yannelis, 2018. "A Day Late and a Dollar Short : Liquidity and Household Formation among Student Borrowers," Finance and Economics Discussion Series 2018-025, Board of Governors of the Federal Reserve System (U.S.).
    325. Diego Daruich & Julian Kozlowski, 2023. "Macroeconomic Implications of Uniform Pricing," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(3), pages 64-108, July.
    326. Naqun Huang & Jing Li & Amanda Ross, 2022. "Housing wealth shocks, home equity withdrawal, and the claiming of Social Security retirement benefits," Economic Inquiry, Western Economic Association International, vol. 60(2), pages 620-644, April.
    327. Philippe Bracke & Christian Hilber & Olmo Silva, 2015. "Mortgage debt and entrepreneurship," Bank of England working papers 560, Bank of England.
    328. Robert J. Waldmann, 2019. "The Relative Price of Housing and Subsequent GDP Growth in the USA," CEIS Research Paper 475, Tor Vergata University, CEIS, revised 29 Nov 2019.
    329. Becard, Yvan & Gauthier, David, 2023. "Banks, nonbanks, and business cycles," European Economic Review, Elsevier, vol. 154(C).
    330. Tobias Adrian & Daniel M. Covitz & J. Nellie Liang, 2013. "Financial stability monitoring," Staff Reports 601, Federal Reserve Bank of New York.
    331. Vladimir Asriyan & Luc Laeven & Alberto Martin & Alejandro Van der Ghote & Victoria Vanasco, 2021. "Falling interest rates and credit reallocation: Lessons from general equilibrium," Economics Working Papers 1784, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2022.
    332. Alberto Martin & Enrique Moral Benito & Tom Schmitz, 2018. "The financial transmission of housing bubbles: evidence from spain," 2018 Meeting Papers 299, Society for Economic Dynamics.
    333. Dimitris Christelis & Michael Ehrmann & Dimitris Georgarakos, 2017. "Exploring Differences in Household Debt Across the United States and Euro Area Countries," CSEF Working Papers 465, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    334. Manel Antelo & David Peón, 2014. "Fiscal consolidation and the sustainability of public debt in the GIPSI countries," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 37(103), pages 52-71, Abril.
    335. Olympia Bover & Jose Maria Casado & Ernesto Villanueva & Sonia Costa & Philip Du Caju & Yvonne McCarthy & Eva Sierminska & Panagiota Tzamourani & Tibor Zavadil, 2013. "The distribution of debt across euro area countries: the role of individual characteristics, institutions and credit conditions," Working Papers 1320, Banco de España.
    336. R diger Bachmann & Sebastian R th, 2017. "Systematic Monetary Policy And The Macroeconomic Effects Of Shifts In Loan-To-Value Ratios," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/934, Ghent University, Faculty of Economics and Business Administration.
    337. Patrick J. Kehoe & Virgiliu Midrigan & Elena Pastorino, 2017. "On the Importance of Easing Consumer Credit Frictions," Economic Policy Paper 17-5, Federal Reserve Bank of Minneapolis.
    338. Pintus, P. A. & Jacek Suda, 2013. "Learning Leverage Shocks and the Great Recession," Working papers 440, Banque de France.
    339. Atif R. Mian & Amir Sufi, 2012. "What explains high unemployment? The aggregate demand channel," NBER Working Papers 17830, National Bureau of Economic Research, Inc.
    340. C. Labonne & C. Welter-Nicol, 2015. "MERCURE : Cheap Credit, Unaffordable Houses?," Débats Economiques et financiers 20, Banque de France.
    341. Patrick J. Kehoe & Pierlauro Lopez & Virgiliu Midrigan & Elena Pastorino, 2020. "Credit Frictions in the Great Recession," Staff Report 617, Federal Reserve Bank of Minneapolis.
    342. Di Maggio, Marco & Kermani, Amir & Majlesi, Kaveh, 2018. "Stock Market Returns and Consumption," IZA Discussion Papers 11357, IZA Network @ LISER.
    343. Heilbron, John, 2021. "Credit Constraints and Bias in Hedonic Amenity Valuations," MPRA Paper 125713, University Library of Munich, Germany.
    344. Shangui Peng & Jian Wang & Hao Sun & Zhengning Guo, 2022. "How Does the Spatial Misallocation of Land Resources Affect Urban Industrial Transformation and Upgrading? Evidence from China," Land, MDPI, vol. 11(10), pages 1-22, September.
    345. Francisco ALVAREZ-CUADRADO & Irakli JAPARIDZE, 2015. "Trickle-Down Consumption, Financial Deregulation, Inequality, and Indebtedness," Cahiers de recherche 10-2015, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    346. J. Scott Davis & Kevin X. D. Huang & Ayse Sapci, 2020. "Imperfect substitution in real estate markets and the effect of housing demand on corporate investment," Vanderbilt University Department of Economics Working Papers 20-00002, Vanderbilt University Department of Economics.
    347. Pan, Xuefeng & Wu, Weixing, 2021. "Housing returns, precautionary savings and consumption: Micro evidence from China," Journal of Empirical Finance, Elsevier, vol. 60(C), pages 39-55.
    348. Thomas Crossley & Peter Levell & Hamish Low, 2020. "House Price Rises and Borrowing to Invest," IFS Working Papers W20/2, Institute for Fiscal Studies.
    349. Jiaqian Chen & Daria Finocchiaro & Jesper Linde & Karl Walentin, 2023. "The costs of macroprudential deleveraging in a liquidity trap"," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 991-1011, December.
    350. Hiller, Norbert & Lerbs, Oliver W., 2016. "Aging and urban house prices," Regional Science and Urban Economics, Elsevier, vol. 60(C), pages 276-291.
    351. Leung, Charles Ka Yui, 2022. "Housing and Macroeconomics," MPRA Paper 115500, University Library of Munich, Germany.
    352. Bhatt, Vipul & Kishor, N. Kundan, 2022. "Role of credit and expectations in house price dynamics," Finance Research Letters, Elsevier, vol. 50(C).
    353. Georgios Magkonis & Anastasia Theofilakou, 2019. "Transmission of sectoral debt shocks in OECD countries: Evidence from the income channel," Working Papers in Economics & Finance 2019-02, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    354. Sonia Gilbukh & Andrew Haughwout & Rebecca J. Landau & Joseph Tracy, 2023. "The price‐to‐rent ratio: A macroprudential application," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(2), pages 503-532, March.
    355. Anundsen, André Kallåk & Kivedal, Bjørnar Karlsen & Røed Larsen, Erling & Thorsrud, Leif Anders, 2023. "Behavioral changes in the housing market before and after the Covid-19 lockdown," Journal of Housing Economics, Elsevier, vol. 59(PB).
    356. Beutel, Johannes & Metiu, Norbert & Stockerl, Valentin, 2021. "Toothless tiger with claws? Financial stability communication, expectations, and risk-taking," Discussion Papers 05/2021, Deutsche Bundesbank.
    357. John V. Duca & Lilit Popoyan & Susan M. Wachter, 2019. "Real Estate And The Great Crisis: Lessons For Macroprudential Policy," Contemporary Economic Policy, Western Economic Association International, vol. 37(1), pages 121-137, January.
    358. Clément S. Bellet, 2017. "The paradox of the Joneses: superstar houses and mortgage frenzy in suburban America," CEP Discussion Papers dp1462, Centre for Economic Performance, LSE.
    359. Haliassos, Michael & Gomes, Francisco, 2020. "Household Finance," CEPR Discussion Papers 14502, Centre for Economic Policy Research.
    360. Corina Boar & Denis Gorea & Virgiliu Midrigan, 2017. "Liquidity Constraints in the U.S. Housing Market," NBER Working Papers 23345, National Bureau of Economic Research, Inc.
    361. Hiller, Norbert & Lerbs, Oliver W., 2016. "Aging and urban house prices," ZEW Discussion Papers 15-024, ZEW - Leibniz Centre for European Economic Research, revised 2016.
    362. Castillo, Marcelo & Charlton, Diane, 2021. "Housing Booms and H-2A Agricultural Guest Worker Employment," 2021 Conference, August 17-31, 2021, Virtual 315322, International Association of Agricultural Economists.
    363. Martin Brown & Daniel Hoechle & Lizet Alejandra Perez Cortes & Markus Schmid, 2025. "Monetary Policy Wealth Effects: Evidence from the 2015 Swiss Franc Shock," Working Papers 25.06, Swiss National Bank, Study Center Gerzensee.
    364. Noerhidajati, Sri & Purwoko, Agung Bayu & Werdaningtyas, Hesti & Kamil, Amalia Insan & Dartanto, Teguh, 2021. "Household financial vulnerability in Indonesia: Measurement and determinants," Economic Modelling, Elsevier, vol. 96(C), pages 433-444.
    365. Cincinelli, Peter & Pellini, Elisabetta & Urga, Giovanni, 2021. "Leverage and systemic risk pro-cyclicality in the Chinese financial system," International Review of Financial Analysis, Elsevier, vol. 78(C).
    366. Christa Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert van der Klaauw & Jialan Wang, 2025. "Consumer Credit Reporting Data," Journal of Economic Literature, American Economic Association, vol. 63(2), pages 598-636, June.
    367. Goel, Anand M. & Song, Fenghua & Thakor, Anjan V., 2014. "Correlated leverage and its ramifications," Journal of Financial Intermediation, Elsevier, vol. 23(4), pages 471-503.
    368. Ana Albuquerque & Benjamin Bennett & Cláudia Custódio & Dragana Cvijanović, 2023. "CEO compensation and real estate prices: pay for luck or pay for action?," Review of Accounting Studies, Springer, vol. 28(4), pages 2401-2447, December.
    369. Atif R. Mian & Amir Sufi, 2015. "Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005," NBER Working Papers 20947, National Bureau of Economic Research, Inc.
    370. Wu, Yan & Heerink, Nico & Yu, Linhui, 2024. "Beyond the collateral channel: Real estate prices and manufacturing firm investment in China," International Review of Economics & Finance, Elsevier, vol. 94(C).
    371. Cerutti, Eugenio & Dagher, Jihad & Dell'Ariccia, Giovanni, 2017. "Housing finance and real-estate booms: A cross-country perspective," Journal of Housing Economics, Elsevier, vol. 38(C), pages 1-13.
    372. Mr. Luc Laeven & Mr. Fabian Valencia, 2010. "Resolution of Banking Crises: The Good, the Bad, and the Ugly," IMF Working Papers 2010/146, International Monetary Fund.
    373. Núria Quella & Silvio Rendon, 2014. "The Interaction between Job Search and Housing Decisions," 2014 Meeting Papers 1222, Society for Economic Dynamics.
    374. Guerrieri, V. & Uhlig, H., 2016. "Housing and Credit Markets," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1427-1496, Elsevier.
    375. Jie Chen & Woon Sau Leung & Wei Song & Marc Goergen, 2018. "Why female board representation matters: The role of female directors in reducing male CEO overconfidence in corporate decisions," Working Papers 2018-12, Swansea University, School of Management.
    376. Marco Bernardini & Gert Peersman, 2015. "Private Debt Overhang And The Government Spending Multiplier: Evidence For The United States," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 15/901, Ghent University, Faculty of Economics and Business Administration.
    377. Cl'ement de Chaisemartin & Xavier D'Haultf{oe}uille, 2018. "Two-way fixed effects estimators with heterogeneous treatment effects," Papers 1803.08807, arXiv.org, revised Mar 2020.
    378. Weber, Jeremy G. & Key, Nigel D., 2013. "Do Wealth Gains from Land Appreciation Cause Farmers to Expand Acreage or Buy Land?," 2014 Allied Social Sciences Association (ASSA) Annual Meeting, January 3-5, 2014, Philadelphia, PA 161893, Agricultural and Applied Economics Association.
    379. Daniele Bianchi & Massimo Guidolin & Francesco Ravazzolo, 2013. "Dissecting the 2007-2009 real estate market bust: systematic pricing correction or just a housing fad?," Working Paper 2013/22, Norges Bank.
    380. Wang, Yang & Zhou, Yang & Yu, Xinxin & Liu, Xiao, 2021. "Is domestic consumption dragged down by real estate sector?—Evidence from Chinese household wealth," International Review of Financial Analysis, Elsevier, vol. 75(C).
    381. Karlan, Dean & Osman, Adam & Zinman, Jonathan, 2016. "Follow the money not the cash: Comparing methods for identifying consumption and investment responses to a liquidity shock," Journal of Development Economics, Elsevier, vol. 121(C), pages 11-23.
    382. Angrisani, Marco & Burke, Jeremy & Kapteyn, Arie, 2023. "Cognitive ability, cognitive aging, and debt accumulation," Journal of Banking & Finance, Elsevier, vol. 148(C).
    383. Han, Bing & Han, Lu & Zhou, Zhengyi, 2020. "Housing Market and Entrepreneurship: Micro Evidence from China," MPRA Paper 102597, University Library of Munich, Germany, revised 17 Aug 2020.
    384. Martin Beraja & Erik Hurst & Juan Ospina, 2016. "The Aggregate Implications of Regional Business Cycles," NBER Working Papers 21956, National Bureau of Economic Research, Inc.
    385. Xavier Giroud & Holger M. Mueller, 2017. "Redistribution of Local Labor Market Shocks through Firms’ Internal Networks," Working Papers 17-03, Center for Economic Studies, U.S. Census Bureau.
    386. Cavalcanti, Tiago & Antunes, António & Mendicino, Caterina & Peruffo, Marcel & Villamil, Anne, 2020. "Tighter Credit and Consumer Bankruptcy Insurance," CEPR Discussion Papers 14330, Centre for Economic Policy Research.
    387. Michael D. Carr & Arjun Jayadev, 2013. "Relative Income and Indebtedness: Evidence from Panel Data," Working Papers 2013_02, University of Massachusetts Boston, Economics Department.
    388. Michael J. Osei & John V. Winters, 2019. "Labor Demand Shocks and Housing Prices Across the United States: Does One Size Fit All?," Economic Development Quarterly, , vol. 33(3), pages 212-219, August.
    389. Bashir Ahmad Joo & Simtiha Ishaq Mir, 2024. "Evolution of the Household Debt Narrative: A PRISMA-compliant Systematic Literature Review," Paradigm, , vol. 28(1), pages 84-100, June.
    390. Abdullah Yavas & Shuang Zhu, 2024. "Misreporting of second liens in portfolio mortgages and privately securitized mortgages," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 52(1), pages 73-109, January.
    391. Garber, Gabriel & Mian, Atif & Ponticelli, Jacopo & Sufi, Amir, 2024. "Consumption smoothing or consumption binging? The effects of government-led consumer credit expansion in Brazil," Journal of Financial Economics, Elsevier, vol. 156(C).
    392. Kong, Dongmin & Cheng, Yawen & Liu, Shasha, 2021. "Unexpected housing wealth appreciation and stock market participation," Journal of Housing Economics, Elsevier, vol. 52(C).
    393. Koller, Julian & Stefanova, Stefani, 2025. "Aggregating Trade Shocks: From Local Labor Markets to National Outcomes," MPRA Paper 126772, University Library of Munich, Germany.
    394. Todd Messer & Michael Siemer & Francois Gourio, 2016. "A Missing Generation of Firms? Aggregate Effects of the Decline in New Business Formation," 2016 Meeting Papers 752, Society for Economic Dynamics.
    395. Krislert Samphantharak & Scott Schuh & Robert M. Townsend, 2018. "Integrated Household Surveys: An Assessment Of U.S. Methods And An Innovation," Economic Inquiry, Western Economic Association International, vol. 56(1), pages 50-80, January.
    396. Ity Shurtz, 2014. "Malpractice Law, Physicians' Financial Incentives, and Medical Treatment: How Do They Interact?," Journal of Law and Economics, University of Chicago Press, vol. 57(1), pages 1-29.
    397. Amir E. Khandani & Andrew W. Lo & Robert C. Merton, 2009. "Systemic Risk and the Refinancing Ratchet Effect," NBER Working Papers 15362, National Bureau of Economic Research, Inc.
    398. Marzinotto, Benedicta, 2022. "Euro area current account imbalances: A tale of two financial liberalizations," Journal of International Money and Finance, Elsevier, vol. 120(C).
    399. Albanesi, Stefania & DeGiorgi, Giacomo & Nosal, Jaromir, 2022. "Credit growth and the financial crisis: A new narrative," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 118-139.
    400. Manuel Adelino & Antoinette Schoar & Felipe Severino, 2013. "House Prices, Collateral and Self-Employment," NBER Working Papers 18868, National Bureau of Economic Research, Inc.
    401. Bruno Albuquerque, 2017. "One Size Fits All? Monetary Policy And Asymmetric Household Debt Cycles In Us States," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/937, Ghent University, Faculty of Economics and Business Administration.
    402. Feldkircher, Martin, 2014. "The determinants of vulnerability to the global financial crisis 2008 to 2009: Credit growth and other sources of risk," Journal of International Money and Finance, Elsevier, vol. 43(C), pages 19-49.
    403. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    404. Li, Boyao & Xiong, Wanting & Chen, Liujun & Wang, Yougui, 2017. "The impact of the liquidity coverage ratio on money creation: A stock-flow based dynamic approach," Economic Modelling, Elsevier, vol. 67(C), pages 193-202.
    405. Neil Bhutta, 2012. "Mortgage debt and household deleveraging: accounting for the decline in mortgage debt using consumer credit record data," Finance and Economics Discussion Series 2012-14, Board of Governors of the Federal Reserve System (U.S.).
    406. Guo, Zi-Yi, 2017. "Housing Dynamics, Empirical Facts and the Business Cycle," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 12(2), pages 46-53.
    407. Nuri Ersahin & Rustom M. Irani, 2015. "Collateral Values and Corporate Employment," Working Papers 15-30, Center for Economic Studies, U.S. Census Bureau.
    408. Tore Dubbert & Adrian Schroeder, 2025. "Conditioning business and financial cycles on multivariate information," CQE Working Papers 11225, Center for Quantitative Economics (CQE), University of Muenster.
    409. Kerwin Kofi Charles & Erik Hurst & Matthew J. Notowidigdo, 2016. "The Masking of the Decline in Manufacturing Employment by the Housing Bubble," Journal of Economic Perspectives, American Economic Association, vol. 30(2), pages 179-200, Spring.
    410. Adrien Auclert & Paul Goldsmith-Pinkham & Will Dobbie, 2019. "Macroeconomic Effects of Debt Relief: Consumer Bankruptcy Protections in the Great Recession," 2019 Meeting Papers 355, Society for Economic Dynamics.
    411. Atif Mian & Amir Sufi, 2016. "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt," NBER Working Papers 22256, National Bureau of Economic Research, Inc.
    412. Provash Kumer SARKER, 2020. "Covid crisis: Fiscal, monetary and macro-financial policy responses," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(624), A), pages 41-54, Autumn.
    413. Madi Mangan & Mauro Mastrogiacomo & Hans Bloemen, 2024. "Residual Mortgage Debt, Insurance, and Defaults in the Netherlands," Working Papers 824, DNB.
    414. Leonardo Gambacorta & Yiping Huang & Zhenhua Li & Han Qiu & Shu Chen, 2023. "Data versus Collateral," Review of Finance, European Finance Association, vol. 27(2), pages 369-398.
    415. Nelson Lind, 2017. "Credit Regimes and the Seeds of Crisis," 2017 Meeting Papers 1474, Society for Economic Dynamics.
    416. Moulton, Stephanie & Haurin, Donald R. & Shi, Wei, 2015. "An analysis of default risk in the Home Equity Conversion Mortgage (HECM) program," Journal of Urban Economics, Elsevier, vol. 90(C), pages 17-34.
    417. Jeremy M. Burke & Curtis R. Taylor & Liad Wagman, 2012. "Information Acquisition in Competitive Markets: An Application to the US Mortgage Market," American Economic Journal: Microeconomics, American Economic Association, vol. 4(4), pages 65-106, November.
    418. Rizi, Majid Haghani, 2021. "What moves housing markets: A state-space approach of the price-income ratio," International Economics, Elsevier, vol. 167(C), pages 96-107.
    419. Fangzhi Liang & Gary Gang Tian & Zhihua Wei & Aimin Zeng, 2025. "All That Glitters is Not Gold: Examining the Negative Impact of Real Estate Value on Companies' Market Competitiveness," The Journal of Real Estate Finance and Economics, Springer, vol. 71(4), pages 722-766, November.
    420. Adam M. Guren & Alisdair McKay & Emi Nakamura & Jón Steinsson, 2020. "Housing Wealth Effects: The Long View," Staff Report 593, Federal Reserve Bank of Minneapolis.
    421. Matteo Benetton, 2021. "Leverage Regulation and Market Structure: A Structural Model of the U.K. Mortgage Market," Journal of Finance, American Finance Association, vol. 76(6), pages 2997-3053, December.
    422. Chi-Young Choi & Soojin Jo, 2020. "How Do Housing Markets Affect Local Consumer Prices? – Evidence from U.S. Cities," Globalization Institute Working Papers 398, Federal Reserve Bank of Dallas.
    423. Wolfram Berger & Friedrich Kissmer, 2013. "Monetary Policy and Asset Prices: When Cleaning Up Hits the Zero Lower Bound," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(3), pages 291-312, September.
    424. Acharya, Viral V. & Thakor, Anjan V., 2016. "The dark side of liquidity creation: Leverage and systemic risk," Journal of Financial Intermediation, Elsevier, vol. 28(C), pages 4-21.
    425. Varadi, Alexandra, 2024. "Identifying the transmission channels of credit supply shocks to household debt: Price and non-price effects," European Economic Review, Elsevier, vol. 166(C).
    426. Lu, Xiaomeng & Zhang, Xianjun & Guo, Jiaojiao & Yue, Pengpeng, 2024. "Digital finance era: Will individual investors become better players?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    427. Azad, A.S.M.S. & Azmat, Saad & Chazi, Abdelaziz & Ahsan, Amirul, 2018. "Sailing with the non-conventional stocks when there is no place to hide," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 57(C), pages 1-16.
    428. Peter Ganong & Pascal J. Noel, 2020. "Why Do Borrowers Default on Mortgages?," NBER Working Papers 27585, National Bureau of Economic Research, Inc.
    429. Korevaar, Matthijs, 2023. "Reaching for yield and the housing market: Evidence from 18th-century Amsterdam," Journal of Financial Economics, Elsevier, vol. 148(3), pages 273-296.
    430. Olivier Jeanne, . "Macroprudential policies in a global perspective," Proceedings, Federal Reserve Bank of San Francisco.
    431. Jean‐Noël Barrot & Erik Loualiche & Matthew Plosser & Julien Sauvagnat, 2022. "Import Competition and Household Debt," Journal of Finance, American Finance Association, vol. 77(6), pages 3037-3091, December.
    432. Bahadir, Berrak & Gumus, Inci & Tatar Taspinar, Zeren, 2025. "House prices and sectoral output: A cross-country analysis," Economics Letters, Elsevier, vol. 248(C).
    433. Siwapong Uruyos & Ahmad Chaman & Nye Wusin & Mario Phichinni, 2018. "Volatile Housing Prices, Residential Investments And The Business Cycles," Journal of Smart Economic Growth, , vol. 3(1), pages 13-24, Juin.
    434. Bampinas, Georgios & Konstantinou, Panagiotis & Panagiotidis, Theodore, 2017. "Inequality, demographics and the housing wealth effect: Panel quantile regression evidence for the US," Finance Research Letters, Elsevier, vol. 23(C), pages 19-22.
    435. Brian Greaney & Conor Walsh, 2023. "Demand, Growth, and Deleveraging," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 795-812, December.
    436. Khan Islam & Murshed Chowdhury & Barry Watson, 2025. "Skating on thin ice? Exposure to poverty among Canadians," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 23(4), pages 1143-1172, December.
    437. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2017. "The Great Recession and a Missing Generation of Exporters," Finance and Economics Discussion Series 2017-108, Board of Governors of the Federal Reserve System (U.S.).
    438. Blickle, Kristian & Santos, João A.C., 2024. "The costs of corporate debt overhang," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    439. Teresa C. Fort & John Haltiwanger & Ron S. Jarmin & Javier Miranda, 2013. "How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size," NBER Working Papers 19134, National Bureau of Economic Research, Inc.
    440. Gröbel, Sören & Ihle, Dorothee, 2016. "Saving behavior and housing wealth: Evidence from German micro data," CAWM Discussion Papers 90, University of Münster, Münster Center for Economic Policy (MEP).
    441. Bhardwaj,Abhishek & Ghose,Devaki & Mukherjee,Saptarshi & Singh,Manpreet, 2022. "Million Dollar Plants and Retail Prices," Policy Research Working Paper Series 9995, The World Bank.
    442. Emil Verner, 2018. "Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis," 2018 Meeting Papers 591, Society for Economic Dynamics.
    443. Cañizares Martínez, Carlos, 2025. "Dating housing booms fueled by credit: A Markov switching approach," Journal of Financial Stability, Elsevier, vol. 78(C).
    444. von Schweinitz, Gregor, 2023. "The importance of credit demand for business cycle dynamics," IWH Discussion Papers 21/2023, Halle Institute for Economic Research (IWH).
    445. Felix Chopra & Christopher Roth & Johannes Wohlfart, 2023. "Home Price Expectations and Spending: Evidence from a Field Experiment," CESifo Working Paper Series 10450, CESifo.
    446. Guerrieri, Luca & Iacoviello, Matteo, 2017. "Collateral constraints and macroeconomic asymmetries," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 28-49.
    447. Brian C. Cadena & Brian K. Kovak, 2013. "Immigrants Equilibrate Local Labor Markets: Evidence from the Great Recession," NBER Working Papers 19272, National Bureau of Economic Research, Inc.
    448. Sebastian Doerr, 2020. "Housing booms, reallocation and productivity," BIS Working Papers 904, Bank for International Settlements.
    449. Marina Gindelsky & Jeremy G. Moulton & Scott A. Wentland, 2020. "Valuing Housing Services in the Era of Big Data: A User Cost Approach Leveraging Zillow Microdata," NBER Chapters, in: Big Data for Twenty-First-Century Economic Statistics, pages 339-370, National Bureau of Economic Research, Inc.
    450. Garbarino, Nicola & Guin, Benjamin, 2021. "High water, no marks? Biased lending after extreme weather," Journal of Financial Stability, Elsevier, vol. 54(C).
    451. Berrak Bahadir & Neven Valev, 2020. "Institutions, Household Credit Composition, And The Business Cycle," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1401-1413, July.
    452. Popov, Alexander & Corradin, Stefano, 2013. "House prices, home equity and entrepreneurships," Working Paper Series 1544, European Central Bank.
    453. Guo, Fusen & Li, Feng & Lu, Xiaomeng, 2024. "Does financial advisors improve portfolio efficiency for individual investors? Evidence from large-scale microdata," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 400-412.
    454. Pinter, Gabor, 2015. "House prices and job losses," LSE Research Online Documents on Economics 86318, London School of Economics and Political Science, LSE Library.
    455. Stefani, Alessia De, 2020. "Debt, inequality and house prices: Explaining the dynamics of household borrowing prior to the great recession," Journal of Housing Economics, Elsevier, vol. 47(C).
    456. Xavier Giroud & Holger M. Mueller, 2015. "Firm Leverage and Unemployment during the Great Recession," NBER Working Papers 21076, National Bureau of Economic Research, Inc.
    457. Catherine A. Manly & Ryan S. Wells & Genia M. Bettencourt, 2017. "Financial Planning for College: Parental Preparation and Capital Conversion," Journal of Family and Economic Issues, Springer, vol. 38(3), pages 421-438, September.
    458. Corsetti, Giancarlo & Brendon, Charles, 2016. "COEURE Survey: Fiscal and Monetary Policies after the Crises," CEPR Discussion Papers 11088, Centre for Economic Policy Research.
    459. M. Dietsch & C. Welter-Nicol, 2014. "Do LTV and DSTI caps make banks more resilient?," Débats Economiques et financiers 13, Banque de France.
    460. Cheol Eun & Lingling Wang & Tim Zhang, 2022. "House Price Growth Synchronization and Business Cycle Alignment," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 675-710, November.
    461. Aditya Aladangady, 2014. "Homeowner Balance Sheets and Monetary Policy," Finance and Economics Discussion Series 2014-98, Board of Governors of the Federal Reserve System (U.S.).
    462. Elora Raymond, 2016. "Negative Equity in the Sixth Federal Reserve District," FRB Atlanta Community and Economic Development Discussion Paper 2016-01, Federal Reserve Bank of Atlanta.
    463. Davis, Morris A. & Van Nieuwerburgh, Stijn, 2015. "Housing, Finance, and the Macroeconomy," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 753-811, Elsevier.
    464. Flannery, Mark J. & Lin, Leming & Wang, Luxi, 2022. "Housing booms and bank growth," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    465. Qi-an Chen & Huashi Li & Jianyi Lin & Yunfeng Gao, 2025. "The Role of Housing Mortgage Leverage in Stock Asset Pricing: Evidence from the Chinese A-share Market," The Journal of Real Estate Finance and Economics, Springer, vol. 71(2), pages 209-253, August.
    466. Sebastián Fleitas & Price Fishback & Kenneth Snowden, 2015. "Forbearance by Contract: How Building and Loans Mitigated the Mortgage Crisis of the 1930s," NBER Working Papers 21786, National Bureau of Economic Research, Inc.
    467. Zhang, Yahong, 2019. "Household debt, financial intermediation, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 230-257.
    468. Huber, Kilian, 2021. "Estimating General Equilibrium Spillovers of Large-Scale Shocks," CEPR Discussion Papers 15943, Centre for Economic Policy Research.
    469. Katya Kartashova & Xiaoqing Zhou, 2021. "Wealth Inequality and Return Heterogeneity During the COVID-19 Pandemic," Working Papers 2114, Federal Reserve Bank of Dallas.
    470. Yuliya Demyanyk & Elena Loutskina & Daniel Murphy, 2019. "Fiscal Stimulus and Consumer Debt," The Review of Economics and Statistics, MIT Press, vol. 101(4), pages 728-741, October.
    471. Steven J. Davis & John C. Haltiwanger, 2019. "Dynamism Diminished: The Role of Housing Markets and Credit Conditions," NBER Working Papers 25466, National Bureau of Economic Research, Inc.
    472. Bertrand, Marianne & Morse, Adair, 2015. "Trickle-Down Consumption," CEPR Discussion Papers 10468, Centre for Economic Policy Research.
    473. Segev, Nimrod & Schaffer, Matthew, 2020. "Monetary policy, bank competition and regional credit cycles: Evidence from a quasi-natural experiment," Journal of Corporate Finance, Elsevier, vol. 64(C).
    474. Kerwin Kofi Charles & Erik Hurst & Matthew J. Notowidigdo, 2015. "Housing Booms and Busts, Labor Market Opportunities, and College Attendance," NBER Working Papers 21587, National Bureau of Economic Research, Inc.
    475. Franz, Thorsten, 2019. "Monetary policy, housing, and collateral constraints," Discussion Papers 02/2019, Deutsche Bundesbank.
    476. Giuseppe Pulina, 2023. "Consumer debt in Luxembourg and the euro area: Evidence from the Household Finance and Consumption Survey," BCL working papers 175, Central Bank of Luxembourg.
    477. Ono, Arito & Uchida, Hirofumi & Udell, Gregory F. & Uesugi, Iichiro, 2021. "Lending pro-cyclicality and macroprudential policy: Evidence from Japanese LTV ratios," Journal of Financial Stability, Elsevier, vol. 53(C).
    478. Baccaro, Lucio & Bremer, Björn & Neimanns, Erik, 2023. "What growth strategies do citizens want? Evidence from a new survey," MPIfG Discussion Paper 23/4, Max Planck Institute for the Study of Societies.
    479. Kerwin Kofi Charles & Erik Hurst & Matthew J. Notowidigdo, 2013. "Housing Booms, Manufacturing Decline, and Labor Market Outcomes," NBER Working Papers 18949, National Bureau of Economic Research, Inc.
    480. Horan, Aoife & Jarmulska, Barbara & Ryan, Ellen, 2023. "Asset prices, collateral and bank lending: the case of Covid-19 and real estate," Working Paper Series 2823, European Central Bank.
    481. Toni Ahnert & Sebastian Doerr & Nicola Pierri & Yannick Timmer, 2022. "Does IT help? Information technology in banking and entrepreneurship," BIS Working Papers 998, Bank for International Settlements.
    482. John V. Duca & Anil Kumar, 2011. "Financial literacy and mortgage equity withdrawals," Working Papers 1110, Federal Reserve Bank of Dallas.
    483. Sumit Agarwal & Luojia Hu & Xing Huang, 2013. "Rushing into American Dream? House Prices, Timing of Homeownership, and Adjustment of Consumer Credit," Working Paper Series WP-2013-13, Federal Reserve Bank of Chicago.
    484. Constantinescu, Mihnea & Lastauskas, Povilas, 2018. "The knotty interplay between credit and housing," The Quarterly Review of Economics and Finance, Elsevier, vol. 70(C), pages 241-266.
    485. Laura Feiveson & John Edward Sabelhaus, 2019. "Lifecycle Patterns of Saving and Wealth Accumulation," Finance and Economics Discussion Series 2019-010, Board of Governors of the Federal Reserve System (U.S.).
    486. Duranton,Gilles & Ghani,Syed Ejaz & Grover,Arti Goswami & Kerr,William Robert & Duranton,Gilles & Ghani,Syed Ejaz & Goswami,Arti Grover & Kerr,William Robert, 2015. "Effects of land misallocation on capital allocations in India," Policy Research Working Paper Series 7451, The World Bank.
    487. Serdar Ozkan & Kurt Mitman & Fatih Karahan & Aaron Hedlund, 2016. "Monetary Policy, Heterogeneity and the Housing Channel," 2016 Meeting Papers 663, Society for Economic Dynamics.
    488. Jose Luis Nicolini Llosa, 2015. "Renta financiera y solvencia mundial," Ensayos de Economía 14143, Universidad Nacional de Colombia Sede Medellín.
    489. Daichi KURASHIMA & Masashi MIZUNAGA & Kazuhiko ODAKI & Wako WATANABE, 2013. "Is Leverage a Determinant of Asset Price? Evidence from real estate transaction data," Discussion papers 13082, Research Institute of Economy, Trade and Industry (RIETI).
    490. Strauss, Jack, 2013. "Does housing drive state-level job growth? Building permits and consumer expectations forecast a state’s economic activity," Journal of Urban Economics, Elsevier, vol. 73(1), pages 77-93.
    491. Alina Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike Steins, 2025. "The Distribution of Household Debt in the United States, 1950-2022," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 57, July.
    492. William Diamond & Tim Landvoigt, 2019. "Credit Cycles with Market Based Household Leverage," 2019 Meeting Papers 162, Society for Economic Dynamics.
    493. Carro, Adrian, 2023. "Taming the housing roller coaster: The impact of macroprudential policy on the house price cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    494. Gavin Wood & Sharon Parkinson & Beverley Searle & Susan J. Smith, 2013. "Motivations for Equity Borrowing: A Welfare-switching Effect," Urban Studies, Urban Studies Journal Limited, vol. 50(12), pages 2588-2607, September.
    495. Gergely Lakos & Tibor Szendrei, 2017. "Explanations of Asset Price Bubbles," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(4), pages 122-150.
    496. Gu, Quanlin & He, Jia & Qian, Wenlan & Ren, Yuan, 2025. "Housing booms and shirking," Journal of Urban Economics, Elsevier, vol. 149(C).
    497. Guo, Zi-Yi, 2017. "Information heterogeneity, housing dynamics and the business cycle," EconStor Preprints 168561, ZBW - Leibniz Information Centre for Economics.
    498. Philippon, Thomas & Midrigan, Virgiliu, 2016. "Household Leverage and the Recession," CEPR Discussion Papers 11407, Centre for Economic Policy Research.
    499. Conklin, James N. & Frame, W. Scott & Gerardi, Kristopher & Liu, Haoyang, 2022. "Villains or scapegoats? The role of subprime borrowers in driving the U.S. housing boom," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    500. Bhutta, Neil, 2015. "The ins and outs of mortgage debt during the housing boom and bust," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 284-298.
    501. Daewoung Choi & Yong Kyu Gam & Hojong Shin, 2023. "Environmental reputation and bank liquidity: Evidence from climate transition," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(7-8), pages 1274-1304, July.
    502. Bhardwaj, Geetesh & Sengupta, Rajdeep, 2014. "Subprime cohorts and loan performance," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 236-252.
    503. Stephanie Johnson & John Mondragon & Anthony DeFusco, 2017. "Regulating Household Leverage," 2017 Meeting Papers 327, Society for Economic Dynamics.
    504. Adelino, Manuel & Ferreira, Miguel & Cunha, Igor, 2017. "The Economic Effects of Public Financing: Evidence from Municipal Bond Ratings Recalibration," CEPR Discussion Papers 11811, Centre for Economic Policy Research.
    505. Holger M. Mueller & Constantine Yannelis, 2017. "Students in Distress: Labor Market Shocks, Student Loan Default, and Federal Insurance Programs," NBER Working Papers 23284, National Bureau of Economic Research, Inc.
    506. David Aikman & Jonathan Bridges & Anil Kashyap & Caspar Siergert, 2018. "Would macroprudential regulation have prevented the last crisis?," Bank of England working papers 747, Bank of England.
    507. Luc Laeven, 2011. "Banking Crises: A Review," Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 17-40, December.
    508. Gluszak Michal & Trojanek Radoslaw, 2024. "Supply, Demand and Asymmetric Adjustment of House Prices in Poland," Real Estate Management and Valuation, Sciendo, vol. 32(2), pages 31-45.
    509. Taskin, Ahmet Ali & Yaman, Firat, 2023. "The effect of branching deregulation on finance wage premium," FAU Discussion Papers in Economics 08/2023, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    510. Mark Setterfield, 2018. "Managing the Discontent of the Losers," Working Papers 1816, New School for Social Research, Department of Economics.
    511. Carozzi, Felipe, 2015. "Credit constraints and the composition of housing sales. Farewell to first-time buyers?," LSE Research Online Documents on Economics 65016, London School of Economics and Political Science, LSE Library.
    512. Amir Kermani & Yueran Ma, 2020. "Two Tales of Debt," NBER Working Papers 27641, National Bureau of Economic Research, Inc.
    513. Benedikt Vogt & Wolter Hassink & Matteo Millone & Remco Mocking, 2021. "Homeowners have easier and cheaper access to business credit," CPB Discussion Paper 420, CPB Netherlands Bureau for Economic Policy Analysis.
    514. Alice O. Nakamura & Leonard I. Nakamura & Masao Nakamura, 2012. "Building the Innovation Union: Lessons from the 2008 Financial Crisis," Working Papers 12-17, Federal Reserve Bank of Philadelphia.
    515. Maryam Akbari Nasiri, 2020. "How long do Housing Cycles Last? A Duration Analysis for Emerging Economies," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 23(2), pages 179-200, July.
    516. Sílvio Rendon & Núria Quella‐Isla, 2023. "Interactions between job search and housing decisions: A structural estimation," Southern Economic Journal, John Wiley & Sons, vol. 90(2), pages 414-443, October.
    517. Rowena Crawford & Polly Simpson, 2020. "The impact of house prices on pension saving in early adulthood," IFS Working Papers W20/38, Institute for Fiscal Studies.
    518. John Muellbauer, 2015. "Housing and the Macroeconomy: Inflation and the Financial Accelerator," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 51-58, March.
    519. Simlai, Prodosh, 2019. "Subprime credit, idiosyncratic risk, and foreclosures," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 175-189.
    520. Lawless, Martina & O'Connell, Brian & O'Toole, Conor, 2014. "SME Recovery Following a Financial Crisis: Does Debt Overhang Matter?," Papers WP491, Economic and Social Research Institute (ESRI).
    521. Klein, Mathias, 2016. "Austerity and Private Debt," VfS Annual Conference 2016 (Augsburg): Demographic Change 145681, Verein für Socialpolitik / German Economic Association.
    522. Guo, Zi-Yi, 2017. "Information heterogeneity, housing dynamics and the business cycle," Economics Discussion Papers 2017-17, Kiel Institute for the World Economy.
    523. David Berger & Nicholas Turner & Eric Zwick, 2016. "Stimulating Housing Markets," NBER Working Papers 22903, National Bureau of Economic Research, Inc.
    524. Ms. Yu Shi, 2018. "Sectoral Booms and Misallocation of Managerial Talent: Evidence from the Chinese Real Estate Boom," IMF Working Papers 2018/221, International Monetary Fund.
    525. Amir Sufi, 2012. "Detecting "Bad" Leverage," NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 205-212, National Bureau of Economic Research, Inc.
    526. Munseob Lee & David Argente, 2015. "Cost of Living Inequality during the Great Recession," 2015 Meeting Papers 1372, Society for Economic Dynamics.
    527. Kishor, N. Kundan, 2023. "Forecasting House Prices: The Role of Fundamentals, Credit Conditions, and Supply Indicators," MPRA Paper 116819, University Library of Munich, Germany.
    528. Grzelak, Aleksander, 2021. "The Wealth Effect in Agriculture in Light of Experiences of Farms from the Wielkopolska Region," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2021(4).
    529. Mattia Guerini & Alessio Moneta & Mauro Napoletano & Andrea Roventini, 2017. "The Janus-faced nature of debt : result from a data-driven cointegrated SVAR approach," Documents de Travail de l'OFCE 2017-02, Observatoire Francais des Conjonctures Economiques (OFCE).
    530. Dong, Zhanyu & Li, Xuchao & Li, Yingying & Lin, Jietong, 2025. "Relocating innovation within firms: The impact of real estate booms on innovation transfer," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    531. Martin Gächter & Martin Geiger & Florentin Glötzl & Helene Schuberth, 2015. "Sectoral Deleveraging in Europe and Its Economic Implications," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 8-23.
    532. Piotr Cizkowicz & Andrzej Rzonca & Andrzej Toroj, 2015. "In search for appropriate lower bound.Zero lower bound vs. positive lower bound under discretion and commitment," NBP Working Papers 215, Narodowy Bank Polski.
    533. Allen N. Berger & Onesime Epouhe & Raluca Roman, 2021. "A Tale of Two Bailouts: Effects of TARP and PPP on Subprime Consumer Debt," Working Papers 21-32, Federal Reserve Bank of Philadelphia.
    534. Bernardus van Doornik & Dimas Fazio & Tarun Ramadorai & Janis Skrastins, 2024. "Housing and Fertility," Working Papers Series 612, Central Bank of Brazil, Research Department.
    535. Olivier Coibion & Yuriy Gorodnichenko & Dmitri Koustas, 2013. "Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence," NBER Working Papers 19600, National Bureau of Economic Research, Inc.
    536. Silvo, Aino & Verona, Fabio, 2020. "The Aino 3.0 model," Bank of Finland Research Discussion Papers 9/2020, Bank of Finland.
    537. Xing, Xiaoyun & Gu, Xuesong & Guo, Kun & Deng, Jing, 2024. "The interactive impact of green supporting factors on bank credit creation: An agent-based stock-flow consistent approach," The North American Journal of Economics and Finance, Elsevier, vol. 69(PB).
    538. Stephanie Moulton & Donald Haurin & Samuel Dodini & Maximilian D. Schmeiser, 2016. "How Home Equity Extraction and Reverse Mortgages Affect the Credit Outcomes of Senior Households," Working Papers wp351, University of Michigan, Michigan Retirement Research Center.
    539. Xing, Xiaoyun & Wang, Mingsong & Wang, Yougui & Stanley, H. Eugene, 2020. "Credit creation under multiple banking regulations: The impact of balance sheet diversity on money supply," Economic Modelling, Elsevier, vol. 91(C), pages 720-735.
    540. Ambrocio, Gene, 2019. "Measuring household uncertainty in EU countries," Bank of Finland Research Discussion Papers 17/2019, Bank of Finland.
    541. David Splinter, 2019. "The Mortgage Interest Deduction: Causes of Fluctuations in a Procyclical Tax Expenditure," Public Finance Review, , vol. 47(5), pages 807-827, September.
    542. Rafael Wildauer, 2016. "Determinants of US Household Debt: New Evidence from the SCF," Economics Discussion Papers 2016-6, School of Economics, Kingston University London.
    543. Felipe Carozzi, 2015. "Credit Constraints and the Composition of Housing Sales. Farewell to First-Time Buyers?," SERC Discussion Papers 0183, Centre for Economic Performance, LSE.
    544. Ziwei Mei & Liugang Sheng & Zhentao Shi, 2023. "Nickell Bias in Panel Local Projection: Financial Crises Are Worse Than You Think," Papers 2302.13455, arXiv.org, revised Jan 2026.
    545. Einar C. Kjenstad & Anil Kumar, 2022. "The effect of real estate prices on peer firms," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(4), pages 1022-1053, December.
    546. Fergus Cumming & Paul Hubert, 2019. "The Role of Households' Borrowing Constraints in the Transmission of Monetary Policy This paper investigates how the transmission of monetary policy to the real economy depends on the distribution of household debt. Using an original loan-level datas," Documents de Travail de l'OFCE 2019-20, Observatoire Francais des Conjonctures Economiques (OFCE).
    547. Kasper Kragh Balke & Markus Karlman & Karin Kinnerud, 2024. "Down-payment requirements: Implications for portfolio choice and consumption," Working Papers 03/2024, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    548. Silvo, Aino, 2017. "House prices, lending standards, and the macroeconomy," Bank of Finland Research Discussion Papers 4/2017, Bank of Finland.
    549. Christos Makridis, 2015. "The Elasticity of Air Quality: Evidence from Millions of Households Across the United States," Discussion Papers 15-020, Stanford Institute for Economic Policy Research.
    550. Michael LaCour-Little & Wei Yu & Libo Sun, 2014. "The Role of Home Equity Lending in the Recent Mortgage Crisis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 153-189, March.
    551. Charles W. Calomiris & Stanley D. Longhofer & William Miles, 2012. "The Housing Wealth Effect: The Crucial Roles of Demographics, Wealth Distribution and Wealth Shares," NBER Working Papers 17740, National Bureau of Economic Research, Inc.
    552. Xun Bian & Zhenguo Lin, 2022. "Housing debt and elderly housing tenure choices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(5), pages 1360-1397, September.
    553. Sergi Basco & Maximilian Schäfer-i-Paradís, 2025. "A model-free test of rational bubbles: an application to the US housing market," Economics and Business Letters, Oviedo University Press, vol. 14(2), pages 117-125.
    554. Alexander N. Bogin & William M. Doerner & William D. Larson, 2019. "Local House Price Paths: Accelerations, Declines, and Recoveries," The Journal of Real Estate Finance and Economics, Springer, vol. 58(2), pages 201-222, February.
    555. Elliot Anenberg & Aurel Hizmo & Edward Kung & Raven Molloy, 2019. "Measuring mortgage credit availability: A frontier estimation approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 34(6), pages 865-882, September.
    556. Bahadir, Berrak & Gumus, Inci, 2022. "House prices, collateral effects and sectoral output dynamics in emerging market economies," Journal of International Money and Finance, Elsevier, vol. 129(C).
    557. Li, Yongjia & Tahsin, Salman, 2021. "Home price appreciation and residential lending standards," Journal of Economics and Business, Elsevier, vol. 114(C).
    558. Christoph Basten & Cathérine Koch, 2014. "The causal effect of house prices on mortgage demand and mortgage supply," ECON - Working Papers 140, Department of Economics - University of Zurich.
    559. Pavanini, Nicola & Ioannidou, Vasso & Peng, Yushi, 2019. "Collateral and Asymmetric Information in Lending Markets," CEPR Discussion Papers 13905, Centre for Economic Policy Research.
    560. Alimov, Azizjon, 2016. "Product market effects of real estate collateral," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 75-92.
    561. Fos, Vyacheslav & Hamdi, Naser & Kalda, Ankit & Nickerson, Jordan, 2025. "Gig labor: Trading safety nets for steering wheels," Journal of Financial Economics, Elsevier, vol. 163(C).
    562. Li, Wenchao, 2024. "Do surging house prices discourage fertility? Global evidence, 1870–2012," Labour Economics, Elsevier, vol. 90(C).
    563. Kaiji Chen & Qing Wang & Tong Xu & Tao Zha, 2025. "Aggregate and distributional impacts of LTV policy in China," Quantitative Economics, Econometric Society, vol. 16(4), pages 1361-1408, November.
    564. Yun K. Kim, 2017. "Rise of Household Debt and the Great Recession in the US: Comparative Perspectives," Working Papers 2017_03, University of Massachusetts Boston, Economics Department.
    565. Ariadna Jou & Nuria Mas & Carles Vergara-Alert, 2023. "Housing Wealth, Health and Deaths of Despair," The Journal of Real Estate Finance and Economics, Springer, vol. 66(3), pages 569-602, April.
    566. Ngo, Phuong V., 2015. "Household leverage, housing markets, and macroeconomic fluctuations," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 191-207.
    567. Neil Bhutta, 2014. "The ins and outs of mortgage debt during the housing boom and bust," Finance and Economics Discussion Series 2014-91, Board of Governors of the Federal Reserve System (U.S.).
    568. Andre Brunelli & Bruno Martins & Carlos Carvalho, 2025. "Liquidity or Wealth? Consumption, Debt, and Financial Fragility After a Windfall," Working Papers Series 634, Central Bank of Brazil, Research Department.
    569. Rüth, Sebastian K. & Simon, Camilla, 2020. "How Do Income and the Debt Position of Households Propagate Public into Private Spending?," Working Papers 0676, University of Heidelberg, Department of Economics.
    570. Mariarosaria Comunale, 2020. "New synchronicity indices between real and financial cycles: Is there any link to structural characteristics and recessions in European Union countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(4), pages 617-641, October.
    571. Tong-yob Nam, 2021. "Geographic Heterogeneity in Housing Market Risk and Portfolio Choice," The Journal of Real Estate Finance and Economics, Springer, vol. 62(4), pages 508-547, May.
    572. Bing Chen & Frank P. Stafford, 2019. "A Farewell to ARMs or Ever Changing Market Segments?," The Journal of Real Estate Finance and Economics, Springer, vol. 59(4), pages 649-672, November.
    573. Mueller, Holger & Giroud, Xavier, 2015. "Firm Leverage and Unemployment during the Great Recession," CEPR Discussion Papers 10539, Centre for Economic Policy Research.
    574. Faria, João Ricardo & Wang, Le & Wu, Zhongmin, 2012. "Debts on debts," The North American Journal of Economics and Finance, Elsevier, vol. 23(2), pages 203-219.
    575. William Lincoln & Andrew McCallum & Michael Siemer, 2018. "The Great Recession and a Missing Generation of Exporters," 2018 Meeting Papers 558, Society for Economic Dynamics.
    576. Carson, Richard T & Dastrup, Samuel R., 2009. "After the Fall: An Ex Post Characterization of Housing Price Declines Across Metropolitan Areas," University of California at San Diego, Economics Working Paper Series qt7ng9d927, Department of Economics, UC San Diego.
    577. Andersson, Fredrik & Mayock, Tom, 2015. "The microdynamics of household credit use through a boom–bust cycle," Journal of Housing Economics, Elsevier, vol. 27(C), pages 22-36.
    578. Christos A. Makridis & Michael Ohlrogge, 2022. "Foreclosure spillovers and individual well‐being: Evidence from the Great Recession," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 122-146, March.
    579. Sanvi Avouyi-Dovi & Claire Labonne & Rémy Lecat & Simon Ray, 2017. "Insight from a Time-Varying VAR Model with Stochastic Volatility of the French Housing and Credit Markets," Working papers 620, Banque de France.
    580. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2019. "The Great Recession and a Missing Generation of Exporters," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(4), pages 703-745, December.
    581. Yongqiang Chu, 2014. "Credit constraints, inelastic supply, and the housing boom," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(1), pages 52-69, January.
    582. Gabriel M. Ahlfeldt & Nikodem Szumilo & Jagdish Tripathy, 2024. "Housing-consumption channel of mortgage demand," CEP Discussion Papers dp2023, Centre for Economic Performance, LSE.
    583. Svensson, Lars E.O., 2020. "Macroprudential Policy and Household Debt: What is Wrong with Swedish Macroprudential Policy?," CEPR Discussion Papers 14585, Centre for Economic Policy Research.
    584. Beverley Searle, 2011. "Recession and housing wealth," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 3(1), pages 33-48, April.
    585. Patrick J. Kehoe & Virgiliu Midrigan & Elena Pastorino, 2018. "Evolution of Modern Business Cycle Models: Accounting for the Great Recession," Staff Report 566, Federal Reserve Bank of Minneapolis.
    586. William Elming & Andreas Ermler, 2016. "Housing equity, saving and debt dynamics over the Great Recession," IFS Working Papers W16/12, Institute for Fiscal Studies.
    587. Chen, Jie & Leung, Woon Sau & Evans, Kevin P., 2016. "Are employee-friendly workplaces conducive to innovation?," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 61-79.
    588. Oviedo Moguel Rodolfo, 2020. "The Role of Credit on the Evolution of Wealth Inequality in the USA," Working Papers 2020-13, Banco de México.
    589. Michael Siemer, 2014. "Firm Entry and Employment Dynamics in the Great Recession," Finance and Economics Discussion Series 2014-56, Board of Governors of the Federal Reserve System (U.S.).
    590. Koetter, Michael & Noth, Felix & Wöbbeking, Carl Fabian, 2025. "Contractionary macroprudential policy, collateral valuation, and risk-shifting in EU banking," IWH Discussion Papers 4/2025, Halle Institute for Economic Research (IWH), revised 2025.
    591. Belinda Tracey & Neeltje Van Horen, 2021. "The consumption response to borrowing constraints in the mortgage market," Bank of England working papers 919, Bank of England.
    592. Di Bucchianico, Stefano, 2021. "Inequality, household debt, ageing and bubbles: A model of demand-side Secular Stagnation," IPE Working Papers 160/2021, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    593. Rong, Zhao & Wang, Wenchun & Gong, Qiang, 2016. "Housing price appreciation, investment opportunity, and firm innovation: Evidence from China," Journal of Housing Economics, Elsevier, vol. 33(C), pages 34-58.
    594. Elliot Anenberg & Daniel R. Ringo, 2022. "Volatility in Home Sales and Prices: Supply or Demand?," Finance and Economics Discussion Series 2022-041, Board of Governors of the Federal Reserve System (U.S.).
    595. Mairead Roiste & Apostolos Fasianos & Robert Kirkby & Fang Yao, 2021. "Are Housing Wealth Effects Asymmetric in Booms and Busts?," The Journal of Real Estate Finance and Economics, Springer, vol. 62(4), pages 578-628, May.
    596. Mølbak Ingholt, Marcus, 2022. "Multiple Credit Constraints and Time-Varying Macroeconomic Dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    597. Agnese Carella & Valentina Michelangeli, 2021. "Information or persuasion in the mortgage market: the role of brand names," Temi di discussione (Economic working papers) 1340, Bank of Italy, Economic Research and International Relations Area.
    598. Fabian T. Pfeffer & Sheldon Danziger & Robert F. Schoeni, 2013. "Wealth Disparities Before and After the Great Recession," The ANNALS of the American Academy of Political and Social Science, , vol. 650(1), pages 98-123, November.
    599. Weber, Jeremy & Key, Nigel, 2014. "Leveraging Wealth from Farmland Appreciation: Borrowing, Land Ownership, and Farm Expansion," MPRA Paper 58899, University Library of Munich, Germany.
    600. Aviral K. Tiwari & Claudiu T. Albulescu & Rangan Gupta, 2016. "Time-frequency relationship between US output with commodity and asset prices," Applied Economics, Taylor & Francis Journals, vol. 48(3), pages 227-242, January.
    601. Mr. Adrian Alter & Alan Xiaochen Feng & Nico Valckx, 2018. "Understanding the Macro-Financial Effects of Household Debt: A Global Perspective," IMF Working Papers 2018/076, International Monetary Fund.
    602. Grodecka-Messi, Anna & Li, Jieying & Zhang, Xin, 2025. "Riding the Housing Wave: Home Equity Withdrawal and Consumer Debt Composition," Working Paper Series 452, Sveriges Riksbank (Central Bank of Sweden).
    603. Behringer, Jan & Endres, Lukas & van Treeck, Till, 2023. "Income inequality, household consumption and status competition in Germany," ifso working paper series 25, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    604. Marc Anderes, 2021. "Housing Demand Shocks and Households Balance Sheets," KOF Working papers 21-492, KOF Swiss Economic Institute, ETH Zurich.
    605. Rohan Ganduri, 2023. "What drives screening incentives in nonbank mortgage originators?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(6), pages 1321-1355, November.
    606. Lewellen, Stefan & Williams, Emily, 2021. "Did technology contribute to the housing boom? Evidence from MERS," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1244-1261.
    607. Philip Mulder & Yanjun Liao, 2024. "What’s at Stake? Understanding the Role of Home Equity in Flood Insurance Demand," Working Papers 24-06, Office of Financial Research, US Department of the Treasury.
    608. Baulkaran, Vishaal & Jain, Pawan, 2023. "COVID-19, home equity and retirement funding," Finance Research Letters, Elsevier, vol. 58(PB).
    609. Andrea Ferrero, 2015. "House Price Booms, Current Account Deficits, and Low Interest Rates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 261-293, March.
    610. Sewin Chan & Andrew Haughwout & Andrew Hayashi & Wilbert Van Der Klaauw, 2016. "Determinants of Mortgage Default and Consumer Credit Use: The Effects of Foreclosure Laws and Foreclosure Delays," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(2-3), pages 393-413, March.
    611. Eickmeier, Sandra & Kolb, Benedikt & Prieto, Esteban, 2018. "Effects of bank capital requirement tightenings on inequality," Discussion Papers 54/2018, Deutsche Bundesbank.
    612. Bellet, Clement, 2017. "The paradox of the Joneses: superstar houses andmortgage frenzy in suburban America," LSE Research Online Documents on Economics 69044, London School of Economics and Political Science, LSE Library.
    613. Ferrero, Andrea & Harrison, Richard & Nelson, Benjamin, 2018. "House Price Dynamics, Optimal LTV Limits and the Liquidity Trap," CEPR Discussion Papers 13400, Centre for Economic Policy Research.
    614. Robert Pollin & James Heintz, 2013. "Study of U.S. Financial System," FESSUD studies fstudy10, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    615. Ioannidou, Vasso & Pavanini, Nicola & Peng, Yushi, 2022. "Collateral and asymmetric information in lending markets," Journal of Financial Economics, Elsevier, vol. 144(1), pages 93-121.
    616. Kajuth, Florian, 2010. "The role of liquidity constraints in the response of monetary policy to house prices," Journal of Financial Stability, Elsevier, vol. 6(4), pages 230-242, December.
    617. Pedro S. Amaral, 2017. "Monetary Policy and Inequality," Economic Commentary, Federal Reserve Bank of Cleveland, issue January.
    618. Diego Daruich & Julian Kozlowski, 2019. "Uniform Pricing Within and Across Regions: New Evidence from Argentina," 2019 Meeting Papers 669, Society for Economic Dynamics.
    619. Fan, Gang-Zhi & Li, Han & Li, Jiangyi & Zhang, Jian, 2022. "Housing property rights, collateral, and entrepreneurship: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 143(C).
    620. Xiaoqing Zhou, 2022. "Mortgage borrowing and the boom-bust cycle in consumption and residential investment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 244-268, April.
    621. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2018. "The Great Recession and a Missing Generation of Exporters," Working Papers 18-33, Center for Economic Studies, U.S. Census Bureau.
    622. Simon Mongey & Gianluca Violante & Alessandro Gavazza, 2015. "What Shifts the Beveridge Curve? Recruiting Intensity and Financial Shocks," 2015 Meeting Papers 1079, Society for Economic Dynamics.
    623. Fan, Gang-Zhi & Pu, Ming & Deng, Xiaoying & Ong, Seow Eng, 2018. "Optimal portfolio choices and the determination of housing rents under housing market uncertainty," Journal of Housing Economics, Elsevier, vol. 41(C), pages 200-217.
    624. Pasquale Filiani, 2022. "Macroprudential Debt-to-Income Ratio and Monetary Policy Rules," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 14(2), pages 161-198, June.
    625. Chen, Yunping & Chen, Huanhuan & Li, Guorong & Jiao, Dongdan & Xu, Xiangyun, 2021. "Time-varying effect of macro-prudential policies on household credit growth: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 241-254.
    626. Tahsin, Salman, 2022. "Home price growth and minority access to mortgage credit," Journal of Economics and Business, Elsevier, vol. 120(C).
    627. Peter Ganong & Pascal J. Noel, 2020. "Why Do Borrowers Default on Mortgages? A New Method For Causal Attribution," Working Papers 2020-100, Becker Friedman Institute for Research In Economics.
    628. Chi-Wei SU & Zong-Liang YAO & Hsu-Ling CHANG, 2016. "The relationship between output and asset prices: A time – and frequency – varying approach," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(606), S), pages 57-76, Spring.
    629. Francesco Ruggeri, 2023. "Housing Market, Household Debt, Financial Accelerator, and Stagnation in a Stock-Flow Consistent Model," Bulletin of Political Economy, Bulletin of Political Economy, vol. 17(1), pages 111-143, June.
    630. Ma, Chao & Zhang, Shuoxun, 2024. "Can housing booms elevate financing costs of financial institutions?," Journal of Development Economics, Elsevier, vol. 167(C).
    631. Ray Boshara & William R. Emmons, 2015. "A Balance Sheet Perspective on Financial Success: Why Starting Early Matters," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 267-298, March.
    632. Daniel H. Cooper & Karen E. Dynan, 2013. "Wealth shocks and macroeconomic dynamics," Public Policy Discussion Paper 13-4, Federal Reserve Bank of Boston.
    633. Avezum, Lucas & Huizinga, Harry & Raes, Louis, 2022. "The impact of bank regulation on firms’ capital structure: Evidence from multinationals," Journal of Banking & Finance, Elsevier, vol. 138(C).
    634. Ding, Yawen & Wang, Xiaobing & Chen, Qihui, 2025. "Windfall gains and household consumption: Regression-discontinuity evidence from urban China’s preferential housing policies," Journal of Economic Behavior & Organization, Elsevier, vol. 240(C).
    635. Atif Mian & Amir Sufi, 2015. "Household Debt and Defaults from 2000 to 2010: Facts from Credit Bureau Data," NBER Working Papers 21203, National Bureau of Economic Research, Inc.

  28. Atif Mian & Amir Sufi, 2008. "The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis," NBER Working Papers 13936, National Bureau of Economic Research, Inc.

    Cited by:

    1. Philippon, Thomas & Schnabl, Philipp, 2009. "Efficient Recapitalization," CEPR Discussion Papers 7516, Centre for Economic Policy Research.
    2. Adam J. Levitin & Susan M. Wachter, 2013. "Why Housing?," Housing Policy Debate, Taylor & Francis Journals, vol. 23(1), pages 5-27, January.
    3. Huizinga, H.P. & Laeven, L., 2009. "Accounting Discretion of Banks During a Financial Crisis," Discussion Paper 2009-58, Tilburg University, Center for Economic Research.
    4. Graafland, J.J. & van de Ven, B.W., 2011. "The Credit Crisis and The Moral Responsibility of Professionals in Finance," Discussion Paper 2011-048, Tilburg University, Center for Economic Research.
    5. Gwinner, William B. & Sanders, Anthony, 2008. "The sub prime crisis : implications for emerging markets," Policy Research Working Paper Series 4726, The World Bank.
    6. Hui Tong & Shang-Jin Wei, 2010. "The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis," Working Papers 172010, Hong Kong Institute for Monetary Research.
    7. Mr. Hui Tong & Shang-Jin Wei, 2008. "Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?," IMF Working Papers 2008/186, International Monetary Fund.
    8. Colin Lawson & Emília Zimková, 2009. "The credit crisis: what lessons for Visegrad?," Prague Economic Papers, Prague University of Economics and Business, vol. 2009(2), pages 99-113.
    9. Beachy, Ben, 2012. "A Financial Crisis Manual Causes, Consequences, and Lessons of the Financial Crisis," Working Papers 179105, Tufts University, Global Development and Environment Institute.
    10. Eduardo Fernandes Cazassa & Richard Saito, 2016. "Rating para CRIs: vale a pena?," LARES lares-16-cazassa_ratings_, Latin American Real Estate Society (LARES).
    11. Goswami, Gautam & Tan, Sinan & Waisman, Maya, 2014. "Understanding the cross-section of the U.S. housing bubble: The roles of lending, transaction costs, and rent growth," Journal of Financial Stability, Elsevier, vol. 15(C), pages 76-90.
    12. Ioannidou, V. & Ongena, S. & Peydro, J.L., 2009. "Monetary Policy, Risk-Taking, and Pricing : Evidence from a Quasi-Natural Experiment," Discussion Paper 2009-31 S, Tilburg University, Center for Economic Research.
    13. De La Motte, Laura & Czernomoriez, Janna & Clemens, Marius, 2010. "Zur Vertrauensökonomik: Der Interbankenmarkt in der Krise von 2007-2009 [Economics of trust: The interbank market during the crisis 2007-2009]," MPRA Paper 20357, University Library of Munich, Germany.
    14. Graafland, J.J., 2009. "Calvin's Restrictions on Interest : Guidelines for the Credit Crisis," Other publications TiSEM 096f97db-1df3-4731-9db8-1, Tilburg University, School of Economics and Management.
    15. Dan Immergluck, 2015. "A look back: what we now know about the causes of the US mortgage crisis," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 19(3), pages 269-285, November.
    16. Sarah J. Carrington & Jakob B. Madsen, 2009. "House Prices, Credit and Willingness to Lend," Monash Economics Working Papers 23-09, Monash University, Department of Economics.
    17. Andrew K. Rose & Mark M. Spiegel, 2009. "Cross-country causes and consequences of the 2008 crisis: early warning," Working Paper Series 2009-17, Federal Reserve Bank of San Francisco.
    18. Gabriel Jiménez & Steven Ongena & José Luis Peydró & Jesús Saurina, 2009. "Hazardous times for monetary policy: What do twenty-three million bank loans say about the effects of monetary policy on credit risk-taking?," Working Papers 0833, Banco de España.
    19. Anthony Yanxiang Gu, 2013. "A Possible Method for Warning of House Price Bubble," International Journal of Business and Social Research, LAR Center Press, vol. 3(2), pages 104-113, February.
    20. Domenico Giannone & Michele Lenza, 2009. "Business cycles in the euro area," Research Bulletin, European Central Bank, vol. 8, pages 5-7.
    21. Király, Júlia & Nagy, Márton & Szabó E., Viktor, 2008. "Egy különleges eseménysorozat elemzése - a másodrendű jelzáloghitel-piaci válság és (hazai) következményei [Analysis of a special sequence of events - the crisis on the secondary mortgage market and its consequences (also for Hungary)]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 573-621.
    22. Christopher J. Mayer & Edward Morrison & Tomasz Piskorski & Arpit Gupta, 2011. "Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide," NBER Working Papers 17065, National Bureau of Economic Research, Inc.
    23. Matthew Botsch & Benjamin Iverson & Donald P. Morgan, 2008. "Seismic effects of the bankruptcy reform," Staff Reports 358, Federal Reserve Bank of New York.
    24. William N. Goetzmann & Liang Peng & Jacqueline Yen, 2009. "The Subprime Crisis and House Price Appreciation," NBER Working Papers 15334, National Bureau of Economic Research, Inc.
    25. Ryan Bubb & Alex Kaufman, 2009. "Securitization and moral hazard: evidence from a lender cutoff rule," Public Policy Discussion Paper 09-5, Federal Reserve Bank of Boston.
    26. Muhammad Umer Chapra, 2014. "Morality and Justice in Islamic Economics and Finance," Books, Edward Elgar Publishing, number 15817.
    27. Ben Beachy, 2012. "A Financial Crisis Manual Causes, Consequences, and Lessons of the Financial Crisis," GDAE Working Papers 12-06, GDAE, Tufts University.
    28. Liu, Luke, 2011. "Asset price, asset securitization and financial stability," MPRA Paper 35000, University Library of Munich, Germany.
    29. Luigi Infante & Stefano Piermattei & Raffaele Santioni & Bianca Sorvillo, 2020. "Diversifying away risks through derivatives: an analysis of the Italian banking system," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 37(2), pages 621-657, July.
    30. Gary A. Dymski & Jesus Hernandez & Lisa Mohanty, 2011. "Race, Power, and the Subprime/Foreclosure Crisis: A Mesoanalysis," Economics Working Paper Archive wp_669, Levy Economics Institute.
    31. Massimiliano Affinito & Edoardo Tagliaferri, 2010. "Why do (or did?) banks securitize their loans? Evidence from Italy," Temi di discussione (Economic working papers) 741, Bank of Italy, Economic Research and International Relations Area.
    32. Orsetta Causa & Nicolas Woloszko & David Leite, 2020. "Housing, Wealth Accumulation and Wealth Distribution: Evidence and Stylized Facts," LWS Working papers 30, LIS Cross-National Data Center in Luxembourg.
    33. Yuliya Demyanyk & Otto van Hemert, 2009. "Understanding the subprime mortgage crisis," Proceedings, Federal Reserve Bank of San Francisco, issue jan.
    34. Mathias Hoffmann & Thomas Nitschka, 2009. "Securitization of Mortgage Debt, Asset Prices and International Risk Sharing," CESifo Working Paper Series 2527, CESifo.
    35. Chang, Victor & Newman, Russell & Walters, Robert John & Wills, Gary Brian, 2016. "Review of economic bubbles," International Journal of Information Management, Elsevier, vol. 36(4), pages 497-506.
    36. Stelios Michalopoulos & Luc Laeven & Ross Levine, 2011. "Financial Innovation and Endogenous Growth," Economics Working Papers 0097, Institute for Advanced Study, School of Social Science.
    37. Atif Mian & Amir Sufi & Francesco Trebbi, 2008. "The Political Economy of the U.S. Mortgage Default Crisis," NBER Working Papers 14468, National Bureau of Economic Research, Inc.
    38. Demyanyk, Yuliya & Hasan, Iftekhar, 2010. "Financial crises and bank failures: A review of prediction methods," Omega, Elsevier, vol. 38(5), pages 315-324, October.
    39. Francisca Richter, 2008. "An analysis of foreclosure rate differentials in soft markets," Working Papers (Old Series) 0811, Federal Reserve Bank of Cleveland.
    40. Kristopher Gerardi & Adam Hale Shapiro & Paul S. Willen, 2009. "Decomposing the foreclosure crisis: House price depreciation versus bad underwriting," FRB Atlanta Working Paper 2009-25, Federal Reserve Bank of Atlanta.
    41. Manconi, Alberto & Massa, Massimo & Yasuda, Ayako, 2010. "The Behavior of Intoxicated Investors: The Role of Institutional Investors in Propagating the Crisis of 2007-2008," Working Papers 10-22, University of Pennsylvania, Wharton School, Weiss Center.
    42. Lukáš Fiala, 2021. "Modelling of mortgage debt´s determinants: the case of the Czech Republic," FFA Working Papers 4.002, Prague University of Economics and Business, revised 15 Jan 2022.
    43. Gary Dymski & Jesus Hernandez & Lisa Mohanty, 2013. "Race, Gender, Power, and the US Subprime Mortgage and Foreclosure Crisis: A Meso Analysis," Feminist Economics, Taylor & Francis Journals, vol. 19(3), pages 124-151, July.
    44. Lucia Alessi & Carsten Detken, 2009. "Global liquidity as an early warning indicator for asset price boom/bust cycles," Research Bulletin, European Central Bank, vol. 8, pages 7-9.
    45. Clément Bellet, 2017. "Essays on inequality, social preferences and consumer behavior [Inégalités, préférences sociales et comportement du consommateur]," Sciences Po Economics Publications (main) tel-03455045, HAL.
    46. Tullio Jappelli & Marco Pagano & Marco di Maggio, 2008. "Households’ Indebtedness and Financial Fragility," CSEF Working Papers 208, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 09 Sep 2010.
    47. Richard J. Rosen, 2008. "The role of lenders in the home price boom," Working Paper Series WP-08-16, Federal Reserve Bank of Chicago.
    48. Geetesh Bhardwaj & Rajdeep Sengupta, 2008. "Where's the smoking gun? a study of underwriting standards for US subprime mortgages," Working Papers 2008-036, Federal Reserve Bank of St. Louis.
    49. Júlia Király & Márton Nagy & Viktor E. Szabó, 2008. "Contagion and the beginning of the crisis – pre-Lehman period," MNB Occasional Papers 2008/76, Magyar Nemzeti Bank (Central Bank of Hungary).
    50. Arouri Mohamed El Hédi & Jawadi Fredj, 2010. "On the Impacts of Crisis on the Risk Premium: Evidence from the US Stock Market using a Conditional CAPM," Economics Bulletin, AccessEcon, vol. 30(2), pages 1032-1043.
    51. Hugo Benitez-Silva & Selcuk Eren & Frank Heiland & Sergi Jimenez-Martin, 2007. "How well do Individuals predict the Selling Prices of their Homes?," Department of Economics Working Papers 07-06, Stony Brook University, Department of Economics.
    52. Calice, Giovanni & Ioannidis, Christos, 2012. "An empirical analysis of the impact of the credit default swap index market on large complex financial institutions," International Review of Financial Analysis, Elsevier, vol. 25(C), pages 117-130.
    53. ., 2014. "The global financial crisis: some suggestions for reform of the global financial system in the light of Islamic finance," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 8, pages 239-264, Edward Elgar Publishing.
    54. Samuel Maurer & Hoai-Luu Nguyen & Asani Sarkar & Chenyang Wei, 2009. "Financial innovation and corporate default rates," Proceedings, Federal Reserve Bank of San Francisco, issue jan.
    55. Agur, I. & Demertzis, M., 2010. "Monetary Policy and Excessive Bank Risk Taking," Discussion Paper 2010-30S, Tilburg University, Center for Economic Research.
    56. International Monetary Fund, 2011. "Germany: Technical Note on the Future of German Mortgage-Backed Covered Bond (PF and Brief) and Securitization Markets," IMF Staff Country Reports 2011/369, International Monetary Fund.
    57. Nan-Kuang Chen & Han-Liang Cheng & Ching-Sheng Mao, 2014. "Identifying and forecasting house prices: a macroeconomic perspective," Quantitative Finance, Taylor & Francis Journals, vol. 14(12), pages 2105-2120, December.
    58. John Krainer & Stephen F. LeRoy & Munpyung O, 2009. "Mortgage default and mortgage valuation," Working Paper Series 2009-20, Federal Reserve Bank of San Francisco.
    59. Christopher Foote & Kristopher Gerardi & Lorenz Goette & Paul Willen, 2009. "Reducing Foreclosures: No Easy Answers," NBER Working Papers 15063, National Bureau of Economic Research, Inc.
    60. Mac Clouse & Robert A. Giacalone & Tricia D. Olsen & Lorenzo Patelli, 2017. "Individual Ethical Orientations and the Perceived Acceptability of Questionable Finance Ethics Decisions," Journal of Business Ethics, Springer, vol. 144(3), pages 549-558, September.
    61. Amir E. Khandani & Andrew W. Lo & Robert C. Merton, 2009. "Systemic Risk and the Refinancing Ratchet Effect," NBER Working Papers 15362, National Bureau of Economic Research, Inc.
    62. Gunther Tichy, 2010. "War die Finanzkrise vorhersehbar?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(4), pages 356-382, November.
    63. Landier, Augustin & Sraer, David & Thesmar, David, 2010. "Going for broke: New Century Financial Corporation, 2004-2006," IDEI Working Papers 649, Institut d'Économie Industrielle (IDEI), Toulouse.
    64. Christopher J. Mayer & Karen M. Pence, 2008. "Subprime mortgages: what, where, and to whom?," Finance and Economics Discussion Series 2008-29, Board of Governors of the Federal Reserve System (U.S.).
    65. Ingo Fender & Janet Mitchell, 2009. "Incentives and tranche retention in securitisation : a screening model," Working Paper Research 177, National Bank of Belgium.
    66. Nan-Kuang Chen & Han-Liang Cheng & Ching-Sheng Mao, 2011. "House Price, Mortgage Premium, and Business Fluctuations," Working Papers 192011, Hong Kong Institute for Monetary Research.
    67. Umer Chapra, 2017. "The Looming International Financial Crisis: Can the Introduction of Risk Sharing in the Financial System as Required by Islamic Finance, Play a Positive Role in Reducing its Severity?," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 25, pages 1-13.
    68. Vikrant Vig & Amit Seru & Tomasz Piskorski, 2009. "Securitization and Distressed Loan Renegotiation: Evidence from the Subprime Mortgage Crisis," 2009 Meeting Papers 1169, Society for Economic Dynamics.
    69. ., 2014. "Innovation and authenticity in Islamic finance," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 6, pages 163-192, Edward Elgar Publishing.
    70. Alexandr Rubinshtein, 2009. "Some Theoretical Considerations about the Nature of the Present Crisis," Journal of the New Economic Association, New Economic Association, issue 1-2, pages 240-242.
    71. Shane M. Sherlund, 2008. "The past, present, and future of subprime mortgages," Finance and Economics Discussion Series 2008-63, Board of Governors of the Federal Reserve System (U.S.).
    72. Kelly D. Edmiston, 2009. "Characteristics of high foreclosure neighborhoods in the Tenth District," Economic Review, Federal Reserve Bank of Kansas City, vol. 94(Q II), pages 51-75.
    73. William R. Emmons, 2008. "The mortgage crisis: let markets work, but compensate the truly needy," The Regional Economist, Federal Reserve Bank of St. Louis, issue Jul, pages 10-16.
    74. Wei, Shang-Jin & Tong, Hui, 2009. "The Misfortune of Non-financial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks," CEPR Discussion Papers 7208, Centre for Economic Policy Research.
    75. Bulent Guler, 2010. "Innovations in Information Technology and the Mortgage Market," 2010 Meeting Papers 856, Society for Economic Dynamics.
    76. John A. Tatom, 2008. "The U.S. Foreclosure Crisis: A Two-Pronged Assault on the U.S. Economy," NFI Working Papers 2008-WP-10, Indiana State University, Scott College of Business, Networks Financial Institute.
    77. Edward L. Glaeser, 2017. "Real Estate Bubbles and Urban Development," Asian Development Review, MIT Press, vol. 34(2), pages 114-151, September.
    78. Yuliya Demyanyk, 2009. "Quick exits of subprime mortgages," Review, Federal Reserve Bank of St. Louis, vol. 91(Mar), pages 79-94.
    79. Vincent Grossmann-Wirth & Sophie Rivaud & Stéphane Sorbe, 2010. "Comprendre la formation de la bulle immobilière américaine et son éclatement," Économie et Statistique, Programme National Persée, vol. 438(1), pages 151-171.
    80. Chengsi Zhang & Joel Clovis, 2009. "Financial Market Turmoil: Implications for Monetary Policy Transmission in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(3), pages 1-22, May.
    81. Edward L. Glaeser, 2016. "Real Estate Bubbles and Urban Development," NBER Working Papers 22997, National Bureau of Economic Research, Inc.
    82. Elora Raymond & Kyungsoon Wang & Dan Immergluck, 2016. "Race and uneven recovery: neighborhood home value trajectories in Atlanta before and after the housing crisis," Housing Studies, Taylor & Francis Journals, vol. 31(3), pages 324-339, April.
    83. David Marqués Ibañez, 2009. "Banks, credit and the transmission mechanism of monetary policy," Research Bulletin, European Central Bank, vol. 8, pages 2-4.
    84. Xin Long & Mr. Mangal Goswami & Andreas Jobst, 2009. "An Investigation of Some Macro-Financial Linkages of Securitization," IMF Working Papers 2009/026, International Monetary Fund.
    85. Christopher J. Mayer & Karen M. Pence & Shane M. Sherlund, 2008. "The rise in mortgage defaults," Finance and Economics Discussion Series 2008-59, Board of Governors of the Federal Reserve System (U.S.).
    86. Lawrence R. Cordell & Yilin Huang & Meredith Williams, 2011. "Collateral damage: Sizing and assessing the subprime CDO crisis," Working Papers 11-30, Federal Reserve Bank of Philadelphia.
    87. Andre Guettler & Ulrich Hommel & Julia Reichert, 2011. "The influence of sponsor, servicer, and underwriter characteristics on RMBS performance," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 25(3), pages 281-311, September.
    88. Bealey, Timothy & Meads, Neil & Surico, Paolo, 2010. "Risk heterogeneity and credit supply: evidence from the mortgage market," MPRA Paper 20905, University Library of Munich, Germany.
    89. Andrei Shleifer & Robert W. Vishny, 2009. "Unstable Banking," NBER Working Papers 14943, National Bureau of Economic Research, Inc.
    90. W. Erwin Diewert & Alice O. Nakamura, 2009. "Accounting for housing in a CPI," Working Papers 09-4, Federal Reserve Bank of Philadelphia.
    91. Lukáš Fiala, 2022. "Modelling Household Mortgage Debt: the case of the Czech Republic," Prague Economic Papers, Prague University of Economics and Business, vol. 2022(6), pages 443-463.
    92. Schaumans, C.B.C. & Verboven, F.L., 2011. "Entry and Competition in Differentiated Products Markets," Other publications TiSEM 22008ac6-8483-48ea-9206-e, Tilburg University, School of Economics and Management.
    93. Anil K. Kashyap & Raghuram G. Rajan & Jeremy C. Stein, 2008. "Rethinking capital regulation," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 431-471.
    94. Heeho Kim & SaeWoon Park & Sun Hye Lee, 2012. "House Price and Bank Lending in a Premium Submarket in Korea," International Real Estate Review, Global Social Science Institute, vol. 15(1), pages 1-42.
    95. José Manuel González-Páramo, 2009. "Financial market failures and public policies," Hacienda Pública Española / Review of Public Economics, IEF, vol. 190(3), pages 127-156, September.
    96. Bernd Rudolph, 2008. "Lehren aus den Ursachen und dem Verlauf der internationalen Finanzkrise," Schmalenbach Journal of Business Research, Springer, vol. 60(7), pages 713-741, November.
    97. Carroll, Christopher D. & Slacalek, Jirka, 2009. "The American consumer: Reforming, or just resting?," CFS Working Paper Series 2009/12, Center for Financial Studies (CFS).

  29. Atif Mian & Amir Sufi, 2008. "Summary of \"the consequences of mortgage credit expansion\"," Proceedings 1074, Federal Reserve Bank of Chicago.

    Cited by:

    1. Adam J. Levitin & Susan M. Wachter, 2013. "Why Housing?," Housing Policy Debate, Taylor & Francis Journals, vol. 23(1), pages 5-27, January.
    2. Huizinga, H.P. & Laeven, L., 2009. "Accounting Discretion of Banks During a Financial Crisis," Discussion Paper 2009-58, Tilburg University, Center for Economic Research.
    3. Graafland, J.J. & van de Ven, B.W., 2011. "The Credit Crisis and The Moral Responsibility of Professionals in Finance," Discussion Paper 2011-048, Tilburg University, Center for Economic Research.
    4. Ioannidou, V. & Ongena, S. & Peydro, J.L., 2009. "Monetary Policy, Risk-Taking, and Pricing : Evidence from a Quasi-Natural Experiment," Discussion Paper 2009-31 S, Tilburg University, Center for Economic Research.
    5. Graafland, J.J., 2009. "Calvin's Restrictions on Interest : Guidelines for the Credit Crisis," Other publications TiSEM 096f97db-1df3-4731-9db8-1, Tilburg University, School of Economics and Management.
    6. Dan Immergluck, 2015. "A look back: what we now know about the causes of the US mortgage crisis," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 19(3), pages 269-285, November.
    7. Domenico Giannone & Michele Lenza, 2009. "Business cycles in the euro area," Research Bulletin, European Central Bank, vol. 8, pages 5-7.
    8. Anthony Yanxiang Gu, 2013. "A Possible Method for Warning of House Price Bubble," International Journal of Business and Social Research, LAR Center Press, vol. 3(2), pages 104-113, February.
    9. William N. Goetzmann & Liang Peng & Jacqueline Yen, 2009. "The Subprime Crisis and House Price Appreciation," NBER Working Papers 15334, National Bureau of Economic Research, Inc.
    10. Muhammad Umer Chapra, 2014. "Morality and Justice in Islamic Economics and Finance," Books, Edward Elgar Publishing, number 15817.
    11. Lucia Alessi & Carsten Detken, 2009. "Global liquidity as an early warning indicator for asset price boom/bust cycles," Research Bulletin, European Central Bank, vol. 8, pages 7-9.
    12. Clément Bellet, 2017. "Essays on inequality, social preferences and consumer behavior [Inégalités, préférences sociales et comportement du consommateur]," Sciences Po Economics Publications (main) tel-03455045, HAL.
    13. ., 2014. "The global financial crisis: some suggestions for reform of the global financial system in the light of Islamic finance," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 8, pages 239-264, Edward Elgar Publishing.
    14. International Monetary Fund, 2011. "Germany: Technical Note on the Future of German Mortgage-Backed Covered Bond (PF and Brief) and Securitization Markets," IMF Staff Country Reports 2011/369, International Monetary Fund.
    15. Mac Clouse & Robert A. Giacalone & Tricia D. Olsen & Lorenzo Patelli, 2017. "Individual Ethical Orientations and the Perceived Acceptability of Questionable Finance Ethics Decisions," Journal of Business Ethics, Springer, vol. 144(3), pages 549-558, September.
    16. Ingo Fender & Janet Mitchell, 2009. "Incentives and tranche retention in securitisation : a screening model," Working Paper Research 177, National Bank of Belgium.
    17. Vikrant Vig & Amit Seru & Tomasz Piskorski, 2009. "Securitization and Distressed Loan Renegotiation: Evidence from the Subprime Mortgage Crisis," 2009 Meeting Papers 1169, Society for Economic Dynamics.
    18. Edward L. Glaeser, 2017. "Real Estate Bubbles and Urban Development," Asian Development Review, MIT Press, vol. 34(2), pages 114-151, September.
    19. Vincent Grossmann-Wirth & Sophie Rivaud & Stéphane Sorbe, 2010. "Comprendre la formation de la bulle immobilière américaine et son éclatement," Économie et Statistique, Programme National Persée, vol. 438(1), pages 151-171.
    20. Chengsi Zhang & Joel Clovis, 2009. "Financial Market Turmoil: Implications for Monetary Policy Transmission in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(3), pages 1-22, May.
    21. Elora Raymond & Kyungsoon Wang & Dan Immergluck, 2016. "Race and uneven recovery: neighborhood home value trajectories in Atlanta before and after the housing crisis," Housing Studies, Taylor & Francis Journals, vol. 31(3), pages 324-339, April.
    22. David Marqués Ibañez, 2009. "Banks, credit and the transmission mechanism of monetary policy," Research Bulletin, European Central Bank, vol. 8, pages 2-4.
    23. Demyanyk, Yuliya & Hasan, Iftekhar, 2009. "Financial crises and bank failures: a review of prediction methods," Bank of Finland Research Discussion Papers 35/2009, Bank of Finland.
    24. Schaumans, C.B.C. & Verboven, F.L., 2011. "Entry and Competition in Differentiated Products Markets," Other publications TiSEM 22008ac6-8483-48ea-9206-e, Tilburg University, School of Economics and Management.
    25. Bernd Rudolph, 2008. "Lehren aus den Ursachen und dem Verlauf der internationalen Finanzkrise," Schmalenbach Journal of Business Research, Springer, vol. 60(7), pages 713-741, November.

  30. Atif Mian & Amir Sufi & Francesco Trebbi, 2008. "The Political Economy of the U.S. Mortgage Default Crisis," NBER Working Papers 14468, National Bureau of Economic Research, Inc.

    Cited by:

    1. Behn, Markus & Haselmann, Rainer & Kick, Thomas & Vig, Vikrant, 2016. "The political economy of bank bailouts," SAFE Working Paper Series 133, Leibniz Institute for Financial Research SAFE.
    2. Duchin, Ran & Sosyura, Denis, 2014. "Safer ratios, riskier portfolios: Banks׳ response to government aid," Journal of Financial Economics, Elsevier, vol. 113(1), pages 1-28.
    3. Pinar Yildirim & Andrei Simonov & Maria Petrova & Ricardo Perez-Truglia, 2024. "Are Political and Charitable Giving Substitutes? Evidence from the United States," Management Science, INFORMS, vol. 70(11), pages 8030-8043, November.
    4. Cooper, Zack & Kowalski, Amanda & Powell, Eleanor Neff & Wu, Jennifer D., 2024. "Politics and health care spending in the United States: A case study from the passage of the 2003 Medicare Modernization Act," Journal of Health Economics, Elsevier, vol. 95(C).
    5. Fernando Ferreira & Joseph Gyourko, 2011. "Anatomy of the Beginning of the Housing Boom: U.S. Neighborhoods and Metropolitan Areas, 1993-2009," NBER Working Papers 17374, National Bureau of Economic Research, Inc.
    6. Adam Lovett, 2023. "The ethics of asymmetric politics," Politics, Philosophy & Economics, , vol. 22(1), pages 3-30, February.
    7. Ramirez Carlos D., 2011. "The $700 Billion Bailout: A Public-Choice Interpretation," Review of Law & Economics, De Gruyter, vol. 7(1), pages 291-318, November.
    8. Francesco Trebbi & Miao Ben Zhang & Michael Simkovic, 2023. "The Cost of Regulatory Compliance in the United States," CESifo Working Paper Series 10589, CESifo.
    9. Matthias Neuenkirch, 2013. "Federal Reserve Communications and Newswire Coverage," MAGKS Papers on Economics 201330, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    10. Carretta, Alessandro & Farina, Vincenzo & Gon, Abhishek & Parisi, Antonio, 2011. "Politicians “on board”! Do political connections affect banking activities in Italy?," MPRA Paper 33549, University Library of Munich, Germany.
    11. Vicente Cuñat & Luis Garicano, 2010. "Did Good Cajas Extend Bad Loans? Governance, Human Capital and Loan Portfolios," Working Papers 2010-08, FEDEA.
    12. Duchin, R. & Sosyura, D., 2012. "Safer Rations, Riskier Portfolios : Banks’ responses to Government Aid," Other publications TiSEM e67533e7-f388-4860-b65e-0, Tilburg University, School of Economics and Management.
    13. Atif Mian & Amir Sufi & Francesco Trebbi, 2011. "Foreclosures, House Prices, and the Real Economy," IMES Discussion Paper Series 11-E-27, Institute for Monetary and Economic Studies, Bank of Japan.
    14. Filipe Correia & Gustavo S. Cortes & Thiago C. Silva, 2021. "Is Corporate Credit Risk Propagated to Employees?," Working Papers Series 551, Central Bank of Brazil, Research Department.
    15. Orkun Saka & Yuemei Ji & Paul De Grauwe, 2021. "Financial Policymaking after Crises: Public vs. Private Interests," CESifo Working Paper Series 9131, CESifo.
    16. Trebbi, Francesco & Canen, Nathan & Kendall, Chad, 2020. "Unbundling Polarization," CEPR Discussion Papers 14291, Centre for Economic Policy Research.
    17. Akey, Pat & Heimer, Rawley Z. & Lewellen, Stefan, 2021. "Politicizing consumer credit," Journal of Financial Economics, Elsevier, vol. 139(2), pages 627-655.
    18. Ormazabal, Gaizka & Jagolinzer, Alan D. & Larcker, David F. & Taylor, Daniel, 2017. "Political Connections and the Informativeness of Insider Trades," CEPR Discussion Papers 12153, Centre for Economic Policy Research.
    19. Panagiota Papadimitri & Fotios Pasiouras & Gioia Pescetto & Ansgar Wohlschlegel, 2018. "Does Political Influence Distort Banking Regulation? Evidence from the US," Working Papers in Economics & Finance 2018-09, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    20. Gabriel, Stuart A. & Kahn, Matthew E. & Vaughn, Ryan K., 2015. "Congressional influence as a determinant of subprime lending," Journal of Housing Economics, Elsevier, vol. 28(C), pages 91-102.
    21. Elise Grieg, 2021. "Public opinion and special interests in American environmental politics," CER-ETH Economics working paper series 21/349, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    22. Dirk G Baur & Isaac Miyakawa, 2014. "The Stock Market, the Real Economy and Contagion," Working Paper Series 179, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    23. Martin Gonzalez-Eiras & Dirk Niepelt, 2022. "The Political Economy of Early COVID-19 Interventions in US States," Diskussionsschriften dp2201, Universitaet Bern, Departement Volkswirtschaft.
    24. Prasad, Eswar, 2013. "Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies," IZA Discussion Papers 7777, IZA Network @ LISER.
    25. Rajwani, Tazeeb & Liedong, Tahiru Azaaviele, 2015. "Political activity and firm performance within nonmarket research: A review and international comparative assessment," Journal of World Business, Elsevier, vol. 50(2), pages 273-283.
    26. Acemoglu, Daron & Johnson, Simon & Kermani, Amir & Kwak, James & Mitton, Todd, 2016. "The value of connections in turbulent times: Evidence from the United States," Journal of Financial Economics, Elsevier, vol. 121(2), pages 368-391.
    27. Saka, O. & Ji, Y. & Minaudier, C., 2024. "Political Accountability during Crises: Evidence from 40 years of Financial Policies," Working Papers 24/01, Department of Economics, City St George's, University of London.
    28. Li, Boying & Zheng, Mingbo & Zhao, Xinxin & Chang, Chun-Ping, 2021. "An assessment of the effect of partisan ideology on shale gas production and the implications for environmental regulations," Economic Systems, Elsevier, vol. 45(3).
    29. Li, Bo & Ponticelli, Jacopo, 2022. "Going Bankrupt in China," CEPR Discussion Papers 15007, Centre for Economic Policy Research.
    30. Balles, Patrick & Matter, Ulrich & Stutzer, Alois, 2018. "Special Interest Groups versus Voters and the Political Economics of Attention," IZA Discussion Papers 11945, IZA Network @ LISER.
    31. Ulrich Matter & Paolo Roberti & Michaela Slotwinski, 2019. "Vote Buying in the US Congress," CESifo Working Paper Series 7841, CESifo.
    32. Piero Montebruno & Olmo Silva & Nikodem Szumilo, 2021. "Judge Dread: court severity, repossession risk and demand in mortgage and housing markets," CEP Discussion Papers dp1766, Centre for Economic Performance, LSE.
    33. Ms. Deniz O Igan & Thomas Lambert, 2019. "Bank Lobbying: Regulatory Capture and Beyond," IMF Working Papers 2019/171, International Monetary Fund.
    34. Bartolozzi, D. & Gara, M. & Marchetti, D.J. & Masciandaro, D., 2022. "Designing the anti-money laundering supervisor: The governance of the financial intelligence units," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1093-1109.
    35. Frieden, Jeffry, 2015. "The political economy of adjustment and rebalancing," Journal of International Money and Finance, Elsevier, vol. 52(C), pages 4-14.
    36. Thomas Lambert, 2019. "Lobbying on Regulatory Enforcement Actions: Evidence from U.S. Commercial and Savings Banks," Management Science, INFORMS, vol. 67(6), pages 2545-2572, June.
    37. Adelino, Manuel & Dinc, I. Serdar, 2014. "Corporate distress and lobbying: Evidence from the Stimulus Act," Journal of Financial Economics, Elsevier, vol. 114(2), pages 256-272.
    38. Anna Harvey & Taylor Mattia, 2022. "Does money have a conservative bias? Estimating the causal impact of Citizens United on state legislative preferences," Public Choice, Springer, vol. 191(3), pages 417-441, June.
    39. Md. Jahir Uddin Palas & Fernando Moreira, 2022. "The impact of government assistance on banks' efficiency," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 1731-1748, April.
    40. Cohen, Lauren & Diether, Karl & Malloy, Christopher, 2013. "Legislating stock prices," Journal of Financial Economics, Elsevier, vol. 110(3), pages 574-595.
    41. Marianne Bertrand & Matilde Bombardini & Raymond Fisman & Francesco Trebbi, 2018. "Tax-Exempt Lobbying: Corporate Philanthropy as a Tool for Political Influence," NBER Working Papers 24451, National Bureau of Economic Research, Inc.
    42. Eric Heyden, 2026. "The power of the banking lobby and its consequences: a scoping review," Public Choice, Springer, vol. 206(3), pages 521-564, March.
    43. Francesco Trebbi & Kairong Xiao, 2015. "Regulation and Market Liquidity," NBER Working Papers 21739, National Bureau of Economic Research, Inc.
    44. Fernandez-Perez, Adrian & Gilbert, Aaron & Indriawan, Ivan & Nguyen, Nhut H., 2021. "COVID-19 pandemic and stock market response: A culture effect," Journal of Behavioral and Experimental Finance, Elsevier, vol. 29(C).
    45. Janet Currie & Erdal Tekin, 2011. "Is there a Link Between Foreclosure and Health?," NBER Working Papers 17310, National Bureau of Economic Research, Inc.
    46. Gloria L. Preece & D. Elizabeth Kiss & Maurice MacDonald, 2025. "The role of sustainable financial behaviors, environmental influences, and personal factors in predicting timely mortgage payments: evidence from the great-recession," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 30(1), pages 1-16, March.
    47. Thomas Groll & Anja Prummer, 2016. "Whom to Lobby? Targeting in Political Networks," Working Papers 808, Queen Mary University of London, School of Economics and Finance.
    48. Groll, Thomas & O’Halloran, Sharyn & McAllister, Geraldine, 2021. "Delegation and the regulation of U.S. financial markets," European Journal of Political Economy, Elsevier, vol. 70(C).
    49. Panagiota Papadimitri & Ansgar Wohlschlegel, 2019. "Lobbying, Regulatory Enforcement and Corporate Governance: Theory and Evidence from Regulatory Enforcement Actions against US Banks," Working Papers in Economics & Finance 2019-08, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    50. Almasi, Pooya & Dagher, Jihad & Prato, Carlo, 2025. "Financial regulatory cycles: A political economy model," Journal of Financial Intermediation, Elsevier, vol. 63(C).
    51. Bombardini, Matilde & Trebbi, Francesco, 2011. "Votes or money? Theory and evidence from the US Congress," Journal of Public Economics, Elsevier, vol. 95(7), pages 587-611.
    52. Popov, Alexander, 2018. "Sub-sovereign bonds in banks’ portfolios: A role for political connections?," Research Bulletin, European Central Bank, vol. 42.
    53. Korkut Alp Erturk, 2019. "Intrinsic Moral Hazard," Working Paper Series, Department of Economics, University of Utah 2019_03, University of Utah, Department of Economics.
    54. Francesco Di Comite & Thomas Lambert, 2020. "Reforming Finance Under Fragmented Governments," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(1), pages 105-148, March.
    55. Laurent Bouton & Paola Conconi & Francisco Pino & Maurizio Zanardi, 2013. "Guns and votes," Working Papers 43819146, Lancaster University Management School, Economics Department.
    56. Jacob M. Meyer & Nicholas R. Jenkins, 2019. "Interest Groups, Policy Responses to Global Shocks, and the Relative Likelihood of Currency Crashes Versus Banking Crises," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 1-56, June.
    57. Raghuram G. Rajan & Rodney Ramcharan, 2011. "Constituencies and Legislation: The Fight over the McFadden Act of 1927," NBER Working Papers 17266, National Bureau of Economic Research, Inc.
    58. Reinhart, Carmen M. & Reinhart, Vincent & Rogoff, Kenneth, 2015. "Dealing with debt," Journal of International Economics, Elsevier, vol. 96(S1), pages 43-55.
    59. Sultan Mehmood & Bakhtawar Ali, 2024. "Judicial Capture," Post-Print hal-04525999, HAL.
    60. Hyein Shim & Maria H. Kim & Doojin Ryu, 2017. "Effects of intraday weather changes on asset returns and volatilities," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 35(2), pages 301-330.
    61. Swan, Peter L., 2009. "The political economy of the subprime crisis: Why subprime was so attractive to its creators," European Journal of Political Economy, Elsevier, vol. 25(1), pages 124-132, March.
    62. Eoin McGuirk & Nathaniel Hilger & Nicholas Miller, 2017. "No Kin In The Game: Moral Hazard and War in the U.S. Congress," NBER Working Papers 23904, National Bureau of Economic Research, Inc.
    63. Ms. Deniz O Igan & Mr. Thierry Tressel & Ms. Prachi Mishra, 2009. "A Fistful of Dollars: Lobbying and the Financial Crisis," IMF Working Papers 2009/287, International Monetary Fund.
    64. Adrian Chadi & Matthias Krapf, 2017. "The Protestant Fiscal Ethic: Religious Confession And Euro Skepticism In Germany," Economic Inquiry, Western Economic Association International, vol. 55(4), pages 1813-1832, October.
    65. García Lara, Juan Manuel & García Osma, Beatriz & Gazizova, Irina & Khalilov, Akram, 2025. "Demand-driven corporate social responsibility: Symbolic versus substantive change after environmental disasters," Journal of Corporate Finance, Elsevier, vol. 94(C).
    66. Ambrocio, Gene & Gu, Xian & Hasan, Iftekhar & Politsidis, Panagiotis, 2020. "The Diplomacy Discount in Global Syndicated Loans," MPRA Paper 103608, University Library of Munich, Germany.
    67. Facchini, Giovanni & Mayda, Anna Maria & Mishra, Prachi, 2011. "Do interest groups affect US immigration policy?," Journal of International Economics, Elsevier, vol. 85(1), pages 114-128, September.
    68. Disney Richard & Gathergood John, 2011. "House Price Growth, Collateral Constraints and the Accumulation of Homeowner Debt in the United States," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-30, September.
    69. Atif R. Mian & Amir Sufi & Francesco Trebbi, 2012. "Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises," NBER Working Papers 17831, National Bureau of Economic Research, Inc.
    70. Giovanni Facchini & Maurizio Zanardi, 2014. "Policymakers' Horizon and Trade Reforms: the Protectionist Effect of Elections," ULB Institutional Repository 2013/191190, ULB -- Universite Libre de Bruxelles.
    71. Leung, Charles Ka Yui, 2014. "Error correction dynamics of house prices: An equilibrium benchmark," Journal of Housing Economics, Elsevier, vol. 25(C), pages 75-95.
    72. Portier, Franck & Beaudry, Paul & Galizia, Dana, 2014. "Reconciling Hayek's and Keynes' views of recessions," CEPR Discussion Papers 9966, Centre for Economic Policy Research.
    73. Jones, Daniel B. & Walsh, Randall, 2018. "How do voters matter? Evidence from US congressional redistricting," Journal of Public Economics, Elsevier, vol. 158(C), pages 25-47.
    74. Lubello, Federico & Rouabah, Abdelaziz, 2024. "Securitization, shadow banking system and macroprudential regulation: A DSGE approach," Economic Modelling, Elsevier, vol. 131(C).
    75. Christa Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert van der Klaauw & Jialan Wang, 2025. "Consumer Credit Reporting Data," Journal of Economic Literature, American Economic Association, vol. 63(2), pages 598-636, June.
    76. Aggey Semenov & Hector Perez Saiz, 2014. "The Effect Of Campaign Contributions On State Banking Regulation And Bank Expansion In U.S," 2014 Meeting Papers 1265, Society for Economic Dynamics.
    77. Miron, Jeffrey A., 2009. "Bailout or Bankruptcy? A Libertarian Perspective on the Financial Crisis," Scholarly Articles 4319665, Harvard University Department of Economics.
    78. Alan D. Jagolinzer & David F. Larcker & Gaizka Ormazabal & Daniel J. Taylor, 2020. "Political Connections and the Informativeness of Insider Trades," Journal of Finance, American Finance Association, vol. 75(4), pages 1833-1876, August.
    79. Bombardini, Matilde & Li, Bingjing & Trebbi, Francesco, 2020. "Did U.S. Politicians Expect the China Shock?," CEPR Discussion Papers 15441, Centre for Economic Policy Research.
    80. Matthieu Chavaz & Andrew K. Rose, 2016. "Political Borders and Bank Lending in Post-Crisis America," NBER Working Papers 22806, National Bureau of Economic Research, Inc.
    81. Kostovetsky, Leonard, 2015. "Political capital and moral hazard," Journal of Financial Economics, Elsevier, vol. 116(1), pages 144-159.
    82. Shy, Oz & Stenbacka, Rune, 2024. "Lobbying and liquidity requirements: Large versus small banks," Journal of Financial Stability, Elsevier, vol. 74(C).
    83. Octavia Foarta, 2016. "Politically Feasible Public Bailouts," 2016 Meeting Papers 1479, Society for Economic Dynamics.
    84. Julien Daubanes & Jean-Charles Rochet, 2019. "The Rise of NGO Activism," Working Papers 2019.01, FAERE - French Association of Environmental and Resource Economists.
    85. Michael Dorsch, 2013. "Bailout for sale? The vote to save Wall Street," Public Choice, Springer, vol. 155(3), pages 211-228, June.
    86. Facchini, Giovanni & Frattini, Tommaso & Signorotto, Cora, 2016. "Mind what your voters read: Media exposure and international economic policy making," CEPR Discussion Papers 11282, Centre for Economic Policy Research.
    87. Paola Conconi & Giovanni Facchini & Maurizio Zanardi, 2011. "Policymakers' Horizon and Trade Reforms," Development Working Papers 311, Centro Studi Luca d'Agliano, University of Milano.
    88. Ashima Goyal, 2009. "Financial crises: reducing pro-cyclicality," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 2(1), pages 173-183.
    89. Stijn Van Nieuwerburgh, 2012. "The Research Agenda: Stijn Van Nieuwerburgh on Housing and the Macroeconomy," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 13(2), April.
    90. Enrico Perotti, 2013. "The Political Economy of Finance," Tinbergen Institute Discussion Papers 13-034/IV/DSF53, Tinbergen Institute.
    91. Igan, Deniz & Lambert, Thomas & Wagner, Wolf & Zhang, Eden Quxian, 2022. "Winning connections? Special interests and the sale of failed banks," Journal of Banking & Finance, Elsevier, vol. 140(C).
    92. Saibal Ghosh, 2018. "Electoral Cycles and Project Outcomes," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 16(2), pages 527-552, June.
    93. Che, Yi & Xiao, Rui, 2020. "Import competition, fast-track authority and U.S. policy toward China," Journal of Comparative Economics, Elsevier, vol. 48(4), pages 974-996.
    94. Thomas Mayer, 2012. "Ziliak and McClosky?s Criticisms of Significance Tests: A Damage Assessment," Working Papers 61, University of California, Davis, Department of Economics.
    95. Davis, Morris A. & Van Nieuwerburgh, Stijn, 2015. "Housing, Finance, and the Macroeconomy," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 753-811, Elsevier.
    96. Sungmun Choi, 2017. "Politician’s ideology and campaign contributions from interest groups," Empirical Economics, Springer, vol. 53(4), pages 1733-1746, December.
    97. Lavezzolo, Sebastián, 2020. "Political regimes and bank interest margins," Economic Systems, Elsevier, vol. 44(2).
    98. Koetter, Michael & Popov, Alexander, 2018. "Politics, banks, and sub-sovereign debt: Unholy trinity or divine coincidence?," Discussion Papers 53/2018, Deutsche Bundesbank.
    99. Marco Grotteria & Max Miller & S.Lakshmi Naaraayanan, 2024. "Foreign influence in US politics," Discussion Papers 2024-12, Nottingham Interdisciplinary Centre for Economic and Political Research (NICEP).
    100. Ke Na & Terry Shevlin & Danqing Wang & Wenjia Yan, 2026. "Politicians’ Ideology, State Intervention, and Corporate Taxation," Management Science, INFORMS, vol. 72(3), pages 2497-2524, March.
    101. Ahmed Tahoun & Laurence van Lent, 2016. "The Personal Wealth Interests of Politicians and the Stabilization of Financial Markets," Working Papers Series 52, Institute for New Economic Thinking.
    102. Roberto Brunetti & Matthieu Pourieux, 2023. "Representative Policy-Makers? A Behavioral Experiment with French Politicians," Working Papers 2319, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
    103. Bo Li & Jacopo Ponticelli, 2022. "Going Bankrupt in China [The politics of foreclosures]," Review of Finance, European Finance Association, vol. 26(3), pages 449-486.
    104. Luzi Hail & Ahmed Tahoun & Clare Wang, 2017. "Corporate Scandals and Regulation," Working Papers Series 71, Institute for New Economic Thinking.
    105. Biguri, Kizkitza & Stahl, Jörg R., 2020. "Who Pays a Visit to Brussels? The Firm Value of Cross-Border Political Access to European Commissioners," LawFin Working Paper Series 9, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
    106. Yilmazer, Tansel & Babiarz, Patryk & Liu, Fen, 2015. "The impact of diminished housing wealth on health in the United States: Evidence from the Great Recession," Social Science & Medicine, Elsevier, vol. 130(C), pages 234-241.
    107. Andreas G.F. Hoepner & John O.S. Wilson, 2012. "Social, Environmental, Ethical and Trust (SEET) Issues in Banking: An Overview," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 24, Edward Elgar Publishing.
    108. Haoyang Liu & W. Ben McCartney & Rodney Ramcharan & Calvin Zhang & Xiaohan Zhang, 2025. "Household Finance Shapes Political Participation: Evidence from Mortgage Refinancing," Working Papers 2517, Federal Reserve Bank of Dallas, revised 03 Mar 2026.
    109. Vuk Vukovic, 2021. "The politics of bailouts: Estimating the causal effects of political connections on corporate bailouts during the 2008–2009 US financial crisis," Public Choice, Springer, vol. 189(1), pages 213-238, October.
    110. Luzi Hail & Ahmed Tahoun & Clare Wang, 2018. "Corporate Scandals and Regulation," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(2), pages 617-671, May.
    111. Gregor Schwerhoff & Ottmar Edenhofer & Marc Fleurbaey, 2020. "Taxation Of Economic Rents," Journal of Economic Surveys, Wiley Blackwell, vol. 34(2), pages 398-423, April.
    112. Jihad Dagher, 2018. "Regulatory Cycles: Revisiting the Political Economy of Financial Crises," IMF Working Papers 2018/008, International Monetary Fund.
    113. Maurizio Trapanese, 2020. "The regulatory cycle in banking: what lessons from the U.S. experience? (from the Dodd-Frank Act to Covid-19)," Questioni di Economia e Finanza (Occasional Papers) 585, Bank of Italy, Economic Research and International Relations Area.
    114. Győző Gyöngyösi & Emil Verner, 2022. "Financial Crisis, Creditor‐Debtor Conflict, and Populism," Journal of Finance, American Finance Association, vol. 77(4), pages 2471-2523, August.
    115. Shelton, Cameron A., 2023. "Where does opportunity knock? On doors that voted for the executive," Journal of Public Economics, Elsevier, vol. 225(C).
    116. Platikanova, Petya, 2017. "Investor-legislators: Tax holiday for politically connected firms," The British Accounting Review, Elsevier, vol. 49(4), pages 380-398.
    117. Chu, Yongqiang & Zhang, Tim, 2022. "Political influence and banks: Evidence from mortgage lending," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    118. Eric J. Brunner & Stephen L. Ross & Ebonya L. Washington, 2011. "Does Less Income Mean Less Representation?," NBER Working Papers 16835, National Bureau of Economic Research, Inc.
    119. Antoniades, Alexis & Calomiris, Charles W., 2020. "Mortgage market credit conditions and U.S. Presidential elections," European Journal of Political Economy, Elsevier, vol. 64(C).
    120. Fink, Alexander & Stahl, Jörg R., 2020. "The value of international political connections: Evidence from Trump's 2016 surprise election," Journal of Economic Behavior & Organization, Elsevier, vol. 176(C), pages 691-700.
    121. John M. de Figueiredo & Brian Kelleher Richter, 2013. "Advancing the Empirical Research on Lobbying," NBER Working Papers 19698, National Bureau of Economic Research, Inc.
    122. Laura A. Wellman, 2017. "Mitigating political uncertainty," Review of Accounting Studies, Springer, vol. 22(1), pages 217-250, March.

  31. Joshua D. Rauh & Amir Sufi, 2008. "Capital Structure and Debt Structure," NBER Working Papers 14488, National Bureau of Economic Research, Inc.

    Cited by:

    1. Gustafson, Matthew T., 2018. "Inter-market competition and bank loan spreads: Evidence from the securities offering reform," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 107-117.
    2. Inder K. Khurana & Changjiang Wang, 2015. "Debt Maturity Structure and Accounting Conservatism," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 42(1-2), pages 167-203, January.
    3. Hongda Zhong, 2021. "A Dynamic Model of Optimal Creditor Dispersion," Journal of Finance, American Finance Association, vol. 76(1), pages 267-316, February.
    4. Feixue Gong & Gregory Phelan, 2019. "Debt Collateralization, Capital Structure, and Maximal Leverage," Department of Economics Working Papers 2019-07, Department of Economics, Williams College, revised Jul 2019.
    5. Akdoğu, Evrim & Alp Paukowits, Aysun, 2022. "Supply of credit and corporate bond covenants," Journal of Corporate Finance, Elsevier, vol. 72(C).
    6. Qi, Qianru & Wang, Jing, 2021. "Debt structure instability using machine learning," Journal of Financial Stability, Elsevier, vol. 57(C).
    7. Kizkitza Biguri, 2025. "The (un)secured debt puzzle: evidence for U.S. public firms," Annals of Finance, Springer, vol. 21(1), pages 19-44, March.
    8. Erel, Isil & Julio, Brandon & Kim, Woojin & Weisbach, Michael S., 2010. "Macroeconomic Conditions and Capital Raising," SIFR Research Report Series 74, Institute for Financial Research, revised 26 Oct 2011.
    9. Zhang, Fan & Lai, Xiaobing & Guo, Chong, 2024. "ESG disclosure and investment-financing maturity mismatch: Evidence from China," Research in International Business and Finance, Elsevier, vol. 70(PA).
    10. Nikita Petrov & Tatiana Ratnikova, 2018. "Analysis of the joint distribution of stock and art indices: Attempt of a copular approach," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 52, pages 46-61.
    11. Antonio Mello & Erwan Quintin, 2015. "A Back-up Quarterback View of Mezzanine Finance," 2015 Meeting Papers 370, Society for Economic Dynamics.
    12. Rong, Yuen & Li, Lifang & Li, Yang & Tian, Cunzhi & Xu, Fangming, 2026. "Controlling shareholders’ portfolio composition and firm leverage," International Review of Economics & Finance, Elsevier, vol. 105(C).
    13. Mascia Bedendo & Linus Siming, 2018. "The mitigating effect of bank financing on shareholder value and firm policies following rating downgrades," Post-Print hal-01636854, HAL.
    14. Ren, Xiaohang & Qin, Jianing & Jin, Chenglu & Yan, Cheng, 2022. "Global oil price uncertainty and excessive corporate debt in China," Energy Economics, Elsevier, vol. 115(C).
    15. Ben-Nasr, Hamdi & Basha, Shabeen Afsar & Shams, Syed, 2025. "The influence of carbon risk on debt structure," International Review of Financial Analysis, Elsevier, vol. 107(C).
    16. Davydov, Denis, 2016. "Debt structure and corporate performance in emerging markets," Research in International Business and Finance, Elsevier, vol. 38(C), pages 299-311.
    17. Hossain, Md Safayat & Rahman, Mahmud, 2025. "Does the presence of GC in the top management team affect debt financing choices?," Advances in accounting, Elsevier, vol. 69(C).
    18. Tamara Teplova & Kristina Galenskaya & Andrey Teplov, 2018. "Real and pseudo enter to the bond market in Russia. In search of the determinants," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 52, pages 22-45.
    19. Gopalakrishnan, Balagopal & Mohapatra, Sanket, 2019. "Diversified Syndicate Structure and Loan Spreads for Non-U.S. Firms," MPRA Paper 96297, University Library of Munich, Germany.
    20. Inaba, Kei-Ichiro, 2021. "Corporate cash and governance: A global look into publicly-traded companies' aggregate cash ratios," International Review of Financial Analysis, Elsevier, vol. 78(C).
    21. Biguri, Kizkitza & Stahl, Jörg R., 2024. "Collateral requirements and corporate policy decisions," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    22. Celil, Hursit S. & Julio, Brandon & Selvam, Srinivasan, 2023. "Investment sensitivity to lender default shocks," Journal of Corporate Finance, Elsevier, vol. 79(C).
    23. Milcheva, Stanimira & Falkenbach, Heidi & Markmann, Holger, 2019. "Bank liquidity management through the issuance of bonds in the aftermath of the global financial crisis," Research in International Business and Finance, Elsevier, vol. 48(C), pages 32-47.
    24. Choi, Daewoung & Lee, Jinsook & Yi, Ha-Chin, 2023. "Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R," Finance Research Letters, Elsevier, vol. 58(PB).
    25. Jiang, Yan & Gan, Tian & Wei, Xiaokun & Zou, Honghui, 2025. "Oil price volatility and corporate debt choice: Evidence from China," Journal of Commodity Markets, Elsevier, vol. 40(C).
    26. Michael Schwert, 2020. "Does Borrowing from Banks Cost More than Borrowing from the Market?," Journal of Finance, American Finance Association, vol. 75(2), pages 905-947, April.
    27. Nathan Foley-Fisher & Rodney Ramcharan & Edison Yu, 2015. "The impact of unconventional monetary policy on firm financing constraints: evidence from the maturity extension program," Working Papers 15-30, Federal Reserve Bank of Philadelphia.
    28. Safronov, M., 2016. "Experimentation and Learning-by-Doing," Cambridge Working Papers in Economics 1667, Faculty of Economics, University of Cambridge.
    29. Yunzhi Hu & Felipe Varas, 2021. "A Theory of Zombie Lending," Journal of Finance, American Finance Association, vol. 76(4), pages 1813-1867, August.
    30. Liu, Xiaoling & Wu, Yuhui & Zhang, Huan, 2023. "Collateral-based monetary policy and corporate employment: Evidence from Medium-term Lending Facility in China," Journal of Corporate Finance, Elsevier, vol. 78(C).
    31. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Secured Credit Premium and the Issuance of Secured Debt," NBER Working Papers 26799, National Bureau of Economic Research, Inc.
    32. Punzi, Maria Teresa & Rabitsch, Katrin, 2015. "Investor borrowing heterogeneity in a Kiyotaki–Moore style macro model," Economics Letters, Elsevier, vol. 130(C), pages 75-79.
    33. Nicolas Crouzet, 2021. "Credit Disintermediation and Monetary Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 23-89, March.
    34. Martellini, Lionel & Milhau, Vincent & Tarelli, Andrea, 2018. "Capital structure decisions and the optimal design of corporate market debt prograams," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 141-167.
    35. Michael R. Roberts & Michael Schwert, 2020. "Interest Rates and the Design of Financial Contracts," NBER Working Papers 27195, National Bureau of Economic Research, Inc.
    36. Robert Prilmeier & René M. Stulz, 2019. "Securities Laws, Bank Monitoring, and the Choice Between Cov-lite Loans and Bonds for Highly Levered," NBER Working Papers 25467, National Bureau of Economic Research, Inc.
    37. Karampatsas, Nikolaos & Petmezas, Dimitris & Travlos, Nickolaos G., 2014. "Credit ratings and the choice of payment method in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 474-493.
    38. Robert Czech & Gábor Pintér, 2020. "Informed Trading and the Dynamics of Client-Dealer Connections in Corporate Bond Markets," Discussion Papers 2032, Centre for Macroeconomics (CFM).
    39. Jean Paul Decamps & Catherine Casamatta & Arnold Chassagnon & Andrea Attar, 2016. "Multiple Lenders, Strategic Default and Covenants," 2016 Meeting Papers 701, Society for Economic Dynamics.
    40. Benmelech, Efraim & Frydman, Carola & Papanikolaou, Dimitris, 2019. "Financial frictions and employment during the Great Depression," Journal of Financial Economics, Elsevier, vol. 133(3), pages 541-563.
    41. Nazar van Doornik, B.F., 2015. "Essays on the behavior of foreign banks in Brazil," Other publications TiSEM 06586714-3b67-4f84-be4f-3, Tilburg University, School of Economics and Management.
    42. Wuqi Song & Wenshuai Xu & Wenzhou Qu & Xu Gong, 2024. "Climate risk exposure and debt concentration: Evidence from Chinese listed companies," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(4), pages 3361-3386, December.
    43. Mitchell Berlin, 2012. "Banks and markets: substitutes, complements, or both?," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 1-10.
    44. Iwaki, Hiromichi & Saito, Junyu, 2022. "Does rollover risk matter to payout policies? Evidence from Japanese listed firms," Journal of Economics and Business, Elsevier, vol. 120(C).
    45. Cai, Yue, 2021. "Expansionary monetary policy and credit allocation: Evidence from China," China Economic Review, Elsevier, vol. 66(C).
    46. Erika Jimena Arilyn, 2019. "The Influence of Growth, Asset Tangibility, Cost Of Debt, Profitability and Business Risk on Debt Capital: Evidence from the Textile and Garment Industry in the Indonesian Stock Market," GATR Journals afr183, Global Academy of Training and Research (GATR) Enterprise.
    47. Huang, Guan-Ying & Huang, Henry Hongren & Lee, Chun I, 2020. "Taming the dark side of asset liquidity: The role of short-term debt," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 539-562.
    48. KG Suresh & Akanksha Saxena & M. Srikanth, 2023. "Comparing Financial Debt Choices of Existing and New SMEs in Indian Manufacturing Sector," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(3), pages 445-456, September.
    49. Huang, Qianqian & Jiang, Feng & Wu, Szu-Yin (Jennifer), 2018. "Does short-maturity debt discipline managers? Evidence from cash-rich firms' acquisition decisions," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 133-154.
    50. Li, Ying & Li, Lingxiao & Zhu, Bing, 2026. "Executive Compensation and Secured Debt: Evidence from REITs," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277606, Verein für Socialpolitik / German Economic Association, revised 2026.
    51. Wan‐Chien Chiu & Chih‐Wei Wang & Juan Ignacio Peña, 2018. "Does the source of debt financing affect default risk?," Review of Financial Economics, John Wiley & Sons, vol. 36(3), pages 232-251, July.
    52. Duffee, Gregory R. & Hördahl, Peter, 2025. "Debt specialization and diversification: International evidence," Journal of International Money and Finance, Elsevier, vol. 157(C).
    53. Ming Li & Zilong Song & Xu Sun & Yumiao Yu, 2025. "Can digital transformation decrease the debt concentration?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 65(3), pages 2213-2243, September.
    54. Cortina, Juan J. & Didier, Tatiana & Schmukler, Sergio L., 2021. "Global corporate debt during crises: Implications of switching borrowing across markets," Journal of International Economics, Elsevier, vol. 131(C).
    55. Babiak, Mykola & Kozhan, Roman, 2024. "Parameter learning in production economies," Journal of Monetary Economics, Elsevier, vol. 144(C).
    56. Ambrocio, Gene & Jokivuolle, Esa, 2017. "Should bank capital requirements be less risk-sensitive because of credit constraints?," Bank of Finland Research Discussion Papers 10/2017, Bank of Finland.
    57. Chu, Yongqiang & Lin, Luca X. & Xiao, Zhanbing, 2024. "Agree to disagree: Lender equity holdings, within-syndicate conflicts, and covenant design," Journal of Financial Intermediation, Elsevier, vol. 57(C).
    58. Xiang, Haotian, 2022. "Corporate debt choice and bank capital regulation," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    59. Yi Wen & Leo Kaas & Costas Azariadis, 2014. "Self-Fulfilling Credit Cycles," 2014 Meeting Papers 1169, Society for Economic Dynamics.
    60. Feldhütter, Peter & Schaefer, Stephen, 2023. "Debt dynamics and credit risk," Journal of Financial Economics, Elsevier, vol. 149(3), pages 497-535.
    61. Miguel H. Ferreira, 2023. "Aggregate Implications of Corporate Bond Holdings by Nonfinancial Firms," Working Papers 967, Queen Mary University of London, School of Economics and Finance.
    62. Ivan T. Ivanov & Tom Zimmermann, 2018. "Claim Dilution in the Municipal Debt Market," Finance and Economics Discussion Series 2018-011, Board of Governors of the Federal Reserve System (U.S.).
    63. Todorov, Karamfil, 2020. "Quantify the quantitative easing: impact on bonds and corporate debt issuance," LSE Research Online Documents on Economics 101665, London School of Economics and Political Science, LSE Library.
    64. Ca Nguyen & John K. Wald, 2022. "Debt maturity and the choice between bank loans and public bonds," Review of Quantitative Finance and Accounting, Springer, vol. 59(1), pages 239-272, July.
    65. Hamdi Ben-Nasr & Lobna Bouslimi & M. Shahid Ebrahim & Rui Zhong, 2019. "Political Uncertainty and the Choice of Debt Sources," Department of Economics Working Papers 2019_08, Durham University, Department of Economics.
    66. Xu Chong Bo & Wenyi Li & Jing Shi & Yi Zheng & Qing Zhou, 2021. "Relationship lending and bank loan covenant violations," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5847-5878, December.
    67. Tut, Daniel, 2022. "Debt Dynamic, Debt Dispersion and Corporate Governance," MPRA Paper 113673, University Library of Munich, Germany.
    68. Sabrina Álvarez Cuccia, 2020. "Analysis of the role of financial and operational diversification on the economic performance of Catalan construction businesses (2005-2016)," TEC Empresarial, School of Business, Costa Rica Institute of Technology (ITCR), vol. 14(1), pages 54-70.
    69. Hui Liang James & Hongxia Wang & Zhimin Wang, 2024. "Covenant violation and operational efficiency," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(2), pages 1879-1920, June.
    70. Kirui, Benard Kipyegon & Gor, Seth Omondi, 2018. "Financial Constraints and Firm Capital Structure in Kenya," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 10(1), pages 177-190.
    71. Grassa, Rihab & Miniaoui, Hela, 2018. "Corporate choice between conventional bond and Sukuk issuance evidence from GCC countries," Research in International Business and Finance, Elsevier, vol. 45(C), pages 454-466.
    72. Hasan Tekin, 2021. "Market differences and adjustment speed of debt, equity, and debt maturity," Australian Journal of Management, Australian School of Business, vol. 46(4), pages 629-651, November.
    73. Yun Lou & Clemens A. Otto, 2020. "Debt Heterogeneity and Covenants," Management Science, INFORMS, vol. 66(1), pages 70-92, January.
    74. Grashuis, Jasper & Cook, Michael, 2016. "Capital, Ownership, and Governance: Analyzing the Structure of U.S. Farmer Cooperatives," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235677, Agricultural and Applied Economics Association.
    75. Nguyen, Justin Hung & Phan, Hieu V., 2020. "Carbon risk and corporate capital structure," Journal of Corporate Finance, Elsevier, vol. 64(C).
    76. Albring, Susan M. & Khurana, Inder K. & Nejadmalayeri, Ali & Pereira, Raynolde, 2011. "Managerial compensation and the debt placement decision," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1445-1456.
    77. Erik P. Gilje & Elena Loutskina & Daniel Murphy, 2020. "Drilling and Debt," Journal of Finance, American Finance Association, vol. 75(3), pages 1287-1325, June.
    78. Goel, Manisha & Zemel, Michelle, 2018. "Switching to bonds when loans are scarce: Evidence from four U.S. crises," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 1-27.
    79. Gopalakrishnan, Balagopal & Jacob, Joshy & Mohapatra, Sanket, 2018. "Risk-sensitive Basel Regulations and Firms' Access to Credit: Direct and Indirect Effects," IIMA Working Papers WP 2018-10-03, Indian Institute of Management Ahmedabad, Research and Publication Department.
    80. Chakraborty, Indraneel, 2010. "Investment and Financing under Reverse Asset Substitution," Working Papers 10-2, University of Pennsylvania, Wharton School, Weiss Center.
    81. Kenneth J. Kopecky & Zhichuan (Frank) Li & Timothy F. Sugrue & Alan L. Tucker, 2018. "Revisiting M&M with Taxes: An Alternative Equilibrating Process," IJFS, MDPI, vol. 6(1), pages 1-12, January.
    82. Wenlian Gao & Feifei Zhu & Kai Chen, 2023. "The role of bank lenders in firm leverage adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 63-97, February.
    83. Fallah, Mohammadali & Kadapakkam, Palani-Rajan & Oliveira, Mauro, 2025. "Impact of vertical mergers on rivals' cost of debt," Global Finance Journal, Elsevier, vol. 67(C).
    84. Kabir, Muhammad & Rahman, Dewan & Jamil, Taher, 2024. "Torn between two debt types? The role of managerial ability in a firmʼs choice between bank loans and public debt," Journal of Banking & Finance, Elsevier, vol. 164(C).
    85. Sergey Chernenko & Isil Erel & Robert Prilmeier, 2019. "Why Do Firms Borrow Directly from Nonbanks?," NBER Working Papers 26458, National Bureau of Economic Research, Inc.
    86. Gu, Xian & Kadiyala, Padma & Mahaney-Walter, Xin Wu, 2018. "How creditor rights affect the issuance of public debt: The role of credit ratings," Journal of Financial Stability, Elsevier, vol. 39(C), pages 133-143.
    87. Paul Luk & Tianxiao Zheng, 2022. "Dynamics of Secured and Unsecured Debt Over the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 284-314, April.
    88. Gyimah, Daniel & Danso, Albert & Adu-Ameyaw, Emmanuel & Boateng, Agyenim, 2022. "Firm-level political risk and corporate leverage decisions," International Review of Financial Analysis, Elsevier, vol. 84(C).
    89. Choi, Jaewon & Hackbarth, Dirk & Zechner, Josef, 2018. "Corporate debt maturity profiles," Journal of Financial Economics, Elsevier, vol. 130(3), pages 484-502.
    90. Dasgupta, Amil & Choi, Jaewon & Oh, Ji Yeol Jimmy, 2019. "Bond Funds and Credit Risk," CEPR Discussion Papers 14134, Centre for Economic Policy Research.
    91. Ivan T. & Tom Zimmermann, 2021. "The "Privatization" of Municipal Debt," ECONtribute Discussion Papers Series 062, University of Bonn and University of Cologne, Germany.
    92. Adachi-Sato, Meg & Vithessonthi, Chaiporn, 2019. "Corporate debt maturity and future firm performance volatility," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 216-237.
    93. KIM, Hyonok & WILCOX, James A. & YASUDA, Yukihiro & 安田, 行宏, 2016. "Shocks and Shock Absorbers in Japanese Bonds and Banks During the Global Financial Crisis," Working Paper Series G-1-16, Hitotsubashi University Center for Financial Research.
    94. Korgaonkar, Sanket, 2023. "The agency costs of tranching: Evidence from RMBS," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    95. Jason Donaldson & Denis Gromb & Giorgia Piacentino, 2019. "Conflicting Priorities: A Theory of Covenants and Collateral," 2019 Meeting Papers 157, Society for Economic Dynamics.
    96. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Perez, Ander, 2014. "Bank lines of credit as contingent liquidity: A study of covenant violations and their implications," Working Paper Series 1702, European Central Bank.
    97. Chen, Yangyang & Saffar, Walid & Shan, Chenyu & Wang, Sarah Qian, 2023. "Credit default swaps and corporate debt structure," Journal of Corporate Finance, Elsevier, vol. 83(C).
    98. D’Acunto, Francesco & Liu, Ryan & Pflueger, Carolin & Weber, Michael, 2018. "Flexible prices and leverage," Journal of Financial Economics, Elsevier, vol. 129(1), pages 46-68.
    99. Liu, Liang-Chih & Dai, Tian-Shyr & Wang, Chuan-Ju, 2016. "Evaluating corporate bonds and analyzing claim holders’ decisions with complex debt structure," Journal of Banking & Finance, Elsevier, vol. 72(C), pages 151-174.
    100. Biguri, Kizkitza, 2023. "How Does Access to the Unsecured Debt Market Affect Investment?," Journal of Banking & Finance, Elsevier, vol. 152(C).
    101. Ivashina, Victoria & Laeven, Luc & Moral-Benito, Enrique, 2022. "Loan types and the bank lending channel," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 171-187.
    102. Hasan, Iftekhar & John, Kose & Kadiyalad, Padma, 2016. "Debt structure when bankruptcy law offers incentives to restructure," Bank of Finland Research Discussion Papers 13/2016, Bank of Finland.
    103. Jong-Wan Bae & Sang-Joon Kim, 2022. "How Do Active Firms Implementing Corporate Environmental Responsibility Take Technological Approaches to Environmental Issues? A Resource-Allocation Perspective," Sustainability, MDPI, vol. 14(14), pages 1-13, July.
    104. Barry E. Adler & Vedran Capkun, 2023. "Secured credit and bankruptcy resolution," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 20(4), pages 719-745, December.
    105. Darmouni, Olivier & Papoutsi, Melina, 2022. "Non-bank lending to mid-size firms in Europe: evidence from corporate securities," Working Paper Series 2663, European Central Bank.
    106. Gianpaolo Parise, 2016. "Threat of entry and debt maturity: evidence from airlines," BIS Working Papers 556, Bank for International Settlements.
    107. Benard Kipyegon Kirui & Seth Omondi Gor, 2018. "Financial Constraints and Firm Capital Structure in Kenya," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(1), pages 177-190, January.
    108. Gaku, Sylvanus A. & Ifft, Jennifer & Byers, Luke, 2022. "Farm Loan Concentration and Financial Risk," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322568, Agricultural and Applied Economics Association.
    109. Délèze, Frédéric & Korkeamäki, Timo, 2018. "Interest rate risk management with debt issues: Evidence from Europe," Journal of Financial Stability, Elsevier, vol. 36(C), pages 1-11.
    110. Bontempi, Maria Elena & Bottazzi, Laura & Golinelli, Roberto, 2020. "A multilevel index of heterogeneous short-term and long-term debt dynamics," Journal of Corporate Finance, Elsevier, vol. 64(C).
    111. Li, WeiWei & Padmanabhan, Prasad & Huang, Chia-Hsing, 2024. "ESG and debt structure: Is the nature of this relationship nonlinear?," International Review of Financial Analysis, Elsevier, vol. 91(C).
    112. Pelizzon, Loriana & Riedel, Max & Simon, Zorka & Subrahmanyam, Marti G., 2020. "Collateral eligibility of corporate debt in the Eurosystem," SAFE Working Paper Series 275, Leibniz Institute for Financial Research SAFE.
    113. Parise, Gianpaolo, 2018. "Threat of entry and debt maturity: Evidence from airlines," Journal of Financial Economics, Elsevier, vol. 127(2), pages 226-247.
    114. Feixue Gong & Gregory Phelan, 2019. "Debt Collateralization, Structured Finance, and the CDS Basis," Department of Economics Working Papers 2019-18, Department of Economics, Williams College.
    115. Gianmarco Bet & Francesco Dainelli & Eugenio Fabrizi, 2023. "The financial health of a company and the risk of its default: Back to the future," Papers 2302.10140, arXiv.org.
    116. Gropp, Reint E. & Hirsch, Christian & Krahnen, Jan Pieter, 2011. "Is rated debt arm's length? Evidence from mergers and acquisitions," CFS Working Paper Series 2011/10, Center for Financial Studies (CFS).
    117. Davydov, Denis & Nikkinen, Jussi & Vähämaa, Sami, 2014. "Does the decision to issue public debt affect firm valuation? Russian evidence," Emerging Markets Review, Elsevier, vol. 20(C), pages 136-151.
    118. Jamal A. Al‐Khasawneh & Paul Dion & Naceur Essaddam & Tashfeen Hussain, 2023. "Is the cost of equity a mere function of leverage? The case of bond IPOs," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 58-78, January.
    119. David M. Arseneau & José Fillat & Molly Mahar & Donald P. Morgan & Skander J. Van den Heuvel, 2021. "COVID Response: The Main Street Lending Program," Staff Reports 984, Federal Reserve Bank of New York.
    120. Grosse-Rueschkamp, Benjamin & Steffen, Sascha & Streitz, Daniel, 2019. "A capital structure channel of monetary policy," Journal of Financial Economics, Elsevier, vol. 133(2), pages 357-378.
    121. Tucker, Jon & Stoja, Evarist, 2011. "Industry membership and capital structure dynamics in the UK," International Review of Financial Analysis, Elsevier, vol. 20(4), pages 207-214, August.
    122. García Lara, Juan Manuel & García Osma, Beatriz & Penalva, Fernando, 2016. "Accounting conservatism and firm investment efficiency," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 221-238.
    123. Epure, Mircea & Guasch, Martí, 2020. "Debt signaling and outside investors in early stage firms," Journal of Business Venturing, Elsevier, vol. 35(2).
    124. Jelena Zivanovic, 2019. "Corporate Debt Composition and Business Cycles," Staff Working Papers 19-5, Bank of Canada.
    125. Ferreira, Daniel & Kirchmaier, Tom & Metzger, Daniel & Ye, Shiwei, 2025. "Boards of banks," LSE Research Online Documents on Economics 128425, London School of Economics and Political Science, LSE Library.
    126. Ferrer, Elena & Suárez, Nuria, 2025. "When opaque firms borrow: The role of investor sentiment," International Review of Financial Analysis, Elsevier, vol. 105(C).
    127. Chen, Haosi & Maslar, David A. & Serfling, Matthew, 2020. "Asset redeployability and the choice between bank debt and public debt," Journal of Corporate Finance, Elsevier, vol. 64(C).
    128. Michaely, Roni & Popadak, Jillian & Vincent, Christopher, 2015. "The Deleveraging of U.S. Firms and Institutional Investors’ Role," MPRA Paper 66128, University Library of Munich, Germany.
    129. Zhang, Yuyang & Uchida, Konari & Dong, Liping, 2020. "External financing and earnings management: Evidence from international data," Research in International Business and Finance, Elsevier, vol. 54(C).
    130. Jędrzejczak-Gas Janina, 2017. "Determinants of the capital structure of TSL sector enterprises," Management, Sciendo, vol. 22(1), pages 122-139, September.
    131. Jasmine Xiao, 2018. "Corporate Debt Structure, Precautionary Savings, and Investment Dynamics," 2018 Meeting Papers 887, Society for Economic Dynamics.
    132. Nina Boyarchenko & Leonardo Elias, 2023. "Corporate Credit Conditions Around the World: Novel Facts Through Holistic Data," Staff Reports 1074, Federal Reserve Bank of New York.
    133. Tang, Minmin & Dai, Xiaosha & Ju, Jingjin & Hu, Xiaofan & Liu, Zihan, 2025. "The reform of property law and debt concentration choices," Finance Research Letters, Elsevier, vol. 77(C).
    134. Giannetti, Caterina, 2019. "Debt specialization and performance of European firms," Journal of Empirical Finance, Elsevier, vol. 53(C), pages 257-271.
    135. Dang, Viet Anh & Karpuz, Ahmet & Mohamed, Abdulkadir, 2023. "Venture capital directors and corporate debt structure: An empirical analysis of newly listed companies," Journal of Banking & Finance, Elsevier, vol. 157(C).
    136. Nina Boyarchenko & Leonardo Elias, 2024. "Corporate Debt Structure over the Global Credit Cycle," Staff Reports 1139, Federal Reserve Bank of New York.
    137. Goenner, Cullen F. & Lee, Kwan Yong, 2022. "The capital structure of domestic and foreign denominated debt: Firm-level evidence from South Korea," International Review of Financial Analysis, Elsevier, vol. 83(C).
    138. Mary L. Fischer & Treba Marsh & Todd A Brown, 2014. "Cash Holdings of S & P Firms Over the Past Decade," Accounting and Finance Research, Sciedu Press, vol. 3(3), pages 143-143, August.
    139. Khoo, Joye & Cheung, Adrian (Wai Kong), 2021. "Does geopolitical uncertainty affect corporate financing? Evidence from MIDAS regression," Global Finance Journal, Elsevier, vol. 47(C).
    140. Giorgio Massari & Luca Portoghese & Patrizio Tirelli, 2024. "Whither Liquidity Shocks? Implications for R∗ and Monetary Policy," DEM Working Papers Series 217, University of Pavia, Department of Economics and Management.
    141. Shibata, Takashi & Nishihara, Michi, 2015. "Investment timing, debt structure, and financing constraints," European Journal of Operational Research, Elsevier, vol. 241(2), pages 513-526.
    142. Fan, Lin & Wang, Jiali & Lin, Zhongguo & Du, Huibin, 2025. "Official environmental credit evaluation and corporate debt concentration," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    143. Priit Jeenas, 2023. "Firm balance sheet liquidity, monetary policy shocks, and investment dynamics," Economics Working Papers 1872, Department of Economics and Business, Universitat Pompeu Fabra.
    144. Hanifa, Mohamed Hisham & Masih, Mansur & Bacha, Obiyathulla, 2014. "Testing Sukuk And Conventional Bond Offers Based On Corporate Financing Theories Using Partial Adjustment Models: Evidence From Malaysian Listed Firms," MPRA Paper 56953, University Library of Munich, Germany.
    145. Md Miran Hossain & David Javakhadze & David A. Maslar & Maya Thevenot, 2025. "Exploring the agency cost of debt: risk, information flow, and CEO social ties," Review of Quantitative Finance and Accounting, Springer, vol. 64(2), pages 505-536, February.
    146. Isin, Adnan Anil, 2018. "Tax avoidance and cost of debt: The case for loan-specific risk mitigation and public debt financing," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 344-378.
    147. Pegoraro, Stefano & Montagna, Mattia, 2021. "Issuance and valuation of corporate bonds with quantitative easing," Working Paper Series 2520, European Central Bank.
    148. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Decline of Secured Debt," NBER Working Papers 26637, National Bureau of Economic Research, Inc.
    149. Zhong, Hongda, 2021. "A dynamic model of optimal creditor dispersion," LSE Research Online Documents on Economics 106646, London School of Economics and Political Science, LSE Library.
    150. Weston, James & Yimfor, Emmanuel, 2023. "Bank loans and bond prices," Journal of Corporate Finance, Elsevier, vol. 80(C).
    151. Ee, Mong Shan & Huang, He, 2024. "Employee mobility constraints and debt choice," Economics Letters, Elsevier, vol. 234(C).
    152. Chen, Jun & King, Tao-Hsien Dolly, 2014. "Corporate hedging and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 221-245.
    153. Inmaculada Aguiar‐Díaz & Ewelina Monica Mruk & María Victoria Ruiz‐Mallorquí, 2024. "Judicial efficiency, debt structure, and cost of debt," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(6), pages 3541-3563, September.
    154. Boubaker, Sabri & Saffar, Walid & Sassi, Syrine, 2018. "Product market competition and debt choice," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 204-224.
    155. A. Tarasov A. & А. Тарасов А., 2019. "Финансовые инструменты поддержки российских экспортеров // Financial Instruments to Support Russian Exporters," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 12(4), pages 29-38.
    156. Chiu, Wan-Chien & King, Tao-Hsien Dolly & Wang, Chih-Wei, 2021. "Debt maturity dispersion and the cost of bank loans," Journal of Corporate Finance, Elsevier, vol. 70(C).
    157. Asimakopoulos, Panagiotis & Asimakopoulos, Stylianos & Li, Xinyu, 2023. "The role of environmental, social, and governance rating on corporate debt structure," Journal of Corporate Finance, Elsevier, vol. 83(C).
    158. Kelvin Jui Keng Tan & Jia Min Lee & Robert W. Faff & Kathy Walsh, 2016. "Short-selling pressure and last-resort debt finance: evidence from 144A high-yield risk-adjusted debt," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 56(4), pages 1149-1185, December.
    159. Alam, Nurul & Boubaker, Sabri & Chen, Xiaomeng Charlene & Hasan, Mostafa Monzur, 2024. "Brand capital and debt choice," International Review of Financial Analysis, Elsevier, vol. 93(C).
    160. Wycliffe Oluoch & Kalu Ojah, 2024. "Financial Market Development and the Microstructure of Corporate Bond Markets in Africa: A Survey," The African Finance Journal, Africagrowth Institute, vol. 26(1), pages 1-33.
    161. Kanwal Iqbal Khan & Faisal Qadeer & Mário Nuno Mata & Rui Miguel Dantas & João Xavier Rita & Jéssica Nunes Martins, 2021. "Debt Market Trends and Predictors of Specialization: An Analysis of Pakistani Corporate Sector," JRFM, MDPI, vol. 14(5), pages 1-16, May.
    162. Karren Lee-Hwei Khaw & Benjie Chien Jiang Lee, 2016. "Debt Maturity, Underinvestment Problem and Corporate Value," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 12(Suppl. 1), pages 1-1–17.
    163. Buchanan, Bonnie & Cao, Cathy Xuying & Chen, Chongyang, 2018. "Corporate social responsibility, firm value, and influential institutional ownership," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 73-95.
    164. Bedendo, Mascia & Siming, Linus, 2018. "The mitigating effect of bank financing on shareholder value and firm policies following rating downgrades," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 94-108.
    165. Michael Alderson & Naresh Bansal & Brian Betker, 2014. "Secured debt and managerial incentives," Review of Quantitative Finance and Accounting, Springer, vol. 43(3), pages 423-440, October.
    166. Petya Platikanova & Kazbi Soonawalla, 2020. "Who monitors opaque borrowers? Debt specialisation, institutional ownership, and information opacity," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1867-1904, June.
    167. Hori, Keiichi & Osano, Hiroshi, 2020. "Dynamic contract and discretionary termination policy under loss aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
    168. Iwaki, Hiromichi, 2019. "The effect of debt market imperfection on capital structure and investment: Evidence from the 2008 global financial crisis in Japan," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 251-266.
    169. Hickey, Conor & O'Brien, John & Caldecott, Ben & McInerney, Celine & Ó Gallachóir, Brian, 2021. "Can European electric utilities manage asset impairments arising from net zero carbon targets?," Journal of Corporate Finance, Elsevier, vol. 70(C).
    170. Jung, Hail & Choi, Sanghak, 2024. "Debt maturity and the marginal value of cash holdings," Finance Research Letters, Elsevier, vol. 70(C).
    171. Ben-Nasr, Hamdi, 2019. "Do unemployment benefits affect the choice of debt source?11I would like to acknowledge the financial support from Qatar University, QUUG-CBE-DFE-17/18-6," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 88-107.
    172. Forssbæck, Jens & Jankensgård, Håkan & Moursli, Reda, 2025. "Stayin' alive: Debt complexity as a bankruptcy-delaying mechanism," Journal of Corporate Finance, Elsevier, vol. 93(C).
    173. Wang, Jing & Wang, Liying, 2024. "When shareholders cross-hold lenders’ equity: The effects on the costs of bank loans," Journal of Banking & Finance, Elsevier, vol. 163(C).
    174. Sylvanus Gaku & Jennifer Ifft & Brady Brewer & Luke Byers, 2026. "The Financial Status and Local Credit Market Conditions of U.S. Farms Engaged in Multiple Borrowing," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 48(1), pages 266-277, March.
    175. Baker, H. Kent & Rjiba, Hatem & Saadi, Samir & Sassi, Syrine, 2024. "Does litigation risk matter for the choice between bank debt and public debt?," Journal of Corporate Finance, Elsevier, vol. 89(C).
    176. Dudley, Evan & Yin, Qie Ellie, 2018. "Financial distress, refinancing, and debt structure," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 185-207.
    177. Vanesa Llorens & Alfredo Martin-Oliver, 2017. "Determinants of bank’s financing choices under capital regulation," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 8(3), pages 287-309, August.
    178. Woei-Chyuan Wong & Sharmilawati Sabki & Angappan Regupathi & Syed Mohd. Na’im Syed Salim, 2019. "Malaysian SMEs’ Liability Structure and Its Impact on Profitability and Growth," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 15(2), pages 77-94.
    179. Kanwal Iqbal Khan & Faisal Qadeer & Mário Nuno Mata & José Chavaglia Neto & Qurat ul An Sabir & Jéssica Nunes Martins & José António Filipe, 2021. "Core Predictors of Debt Specialization: A New Insight to Optimal Capital Structure," Mathematics, MDPI, vol. 9(9), pages 1-25, April.
    180. Francis, Bill B. & Hasan, Iftekhar & Jiang, Chunxia & Sharma, Zenu & Zhu, Yun, 2025. "Climate risks and debt structure," The British Accounting Review, Elsevier, vol. 57(5).
    181. Giannetti, Caterina, 2015. "Debt concentration of European Firms," MPRA Paper 63002, University Library of Munich, Germany.
    182. Liu, Xiaotian & Qi, Yaxuan & Wan, Wai Yee, 2024. "Bankruptcy reforms and corporate debt structure," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 95(C).
    183. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Orive, Ander Perez, 2020. "Bank lines of credit as contingent liquidity: Covenant violations and their implications," Journal of Financial Intermediation, Elsevier, vol. 44(C).
    184. Aoki, Yasuharu, 2021. "The effect of bank relationships on bond spreads: Additional evidence from Japan," Journal of Corporate Finance, Elsevier, vol. 68(C).
    185. Gu, Qiankun & Song, Zilong & Sun, Yiyuan (Ian) & Yu, Xiaoou, 2024. "Digital infrastructure investment and corporate debt concentration: Evidence from a quasi-natural experiment," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    186. Pedro S. Amaral & Dean Corbae & Erwan Quintin, 2020. "Cash‐Flow Tranching And The Macroeconomy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(4), pages 1815-1843, November.
    187. Leming Lin, 2016. "Collateral and the Choice Between Bank Debt and Public Debt," Management Science, INFORMS, vol. 62(1), pages 111-127, January.
    188. Dak-Adzaklo, Cephas Simon Peter & Adza, Solomon Wise Dodzidenu & Asamoah, Joseph Maxwell & Tah, Pascar Tagwan, 2025. "Societal secrecy and corporate debt financing choice," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).
    189. Yao, Wenyun & Lu, Feier & Wang, Yuting & Song, Zilong, 2023. "Social insurance contributions and firms' debt concentration choice: A quasi-natural experiment based on the implementation of China's social insurance law," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    190. Derrien, François & Kecskés, Ambrus & Mansi, Sattar A., 2016. "Information asymmetry, the cost of debt, and credit events: Evidence from quasi-random analyst disappearances," Journal of Corporate Finance, Elsevier, vol. 39(C), pages 295-311.
    191. Dutordoir, Marie & Pappas, Kostas & Xu, Alice Liang & Zeng, Cheng (Colin), 2023. "Covenants in convertible bonds: Boon or boilerplate?," Journal of Corporate Finance, Elsevier, vol. 80(C).
    192. Chen, Yangyang & Hasan, Iftekhar & Saffar, Walid & Zolotoy, Leon, 2021. "Executive Equity Risk-Taking Incentives and Firms’ Choice of Debt Structure," Journal of Banking & Finance, Elsevier, vol. 133(C).
    193. Choi, Jaewon & Hackbarth, Dirk & Zechner, Josef, 2013. "Granularity of corporate debt," CFS Working Paper Series 2013/26, Center for Financial Studies (CFS).
    194. Letdin, Mariya & Meegan, Cathryn M. & Romney, Miles A., 2024. "The Parabolic Relationship of Tax Avoidance and Cost of Public Debt," Finance Research Letters, Elsevier, vol. 69(PA).
    195. Tristan Blick & Ine Paeleman & Eddy Laveren, 2025. "Slack resources as anchors or accelerators in strategic changes: family ownership as a moderator," Small Business Economics, Springer, vol. 65(1), pages 585-611, June.
    196. Kee‐Hong Bae & Yunhao Dai & Weiqiang Tan & Wenming Wang, 2024. "Proprietary information and the choice between public and private debt," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(2), pages 1693-1721, June.
    197. Amir Kermani & Yueran Ma, 2020. "Two Tales of Debt," NBER Working Papers 27641, National Bureau of Economic Research, Inc.
    198. Kanis Saengchote, 2025. "Debt Composition, Institutional Demand, and Corporate Investment: Evidence from Thailand," PIER Discussion Papers 242, Puey Ungphakorn Institute for Economic Research.
    199. Andreas Hadjixenophontos & Christos Christodoulou-Volos, 2018. "Financial Crisis and Capital Adequacy Ratio: A Case Study for Cypriot Commercial Banks," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 8(3), pages 1-6.
    200. Jing Wu & Qiuge Yao & Haoxiang Tong, 2019. "Does monetary policy tightening reduce the maturity mismatch of investment and financing: Empirical evidence from China," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(6), pages 1-3.
    201. Marc Berninger & Paul Bossong & Dirk Schiereck & Marcel Steinhardt, 2023. "Too transparent for signalling? A global analysis of bond issues by property companies," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(3), pages 3125-3145, September.
    202. Jadiyappa, Nemiraja & Hickman, L. Emily & Jyothi, Pavana & Vunyale, Narender & Sireesha, Bhanu, 2020. "Does debt diversification impact firm value? Evidence from India," International Review of Economics & Finance, Elsevier, vol. 67(C), pages 362-377.
    203. Schumacher, Malte D. & Żochowski, Dawid, 2017. "The risk premium channel and long-term growth," Working Paper Series 2114, European Central Bank.
    204. Bhargava, Vivek & Chaudhry, Mukesh & Huerta, Daniel & Ngo, Thanh, 2025. "Executive stock ownership, debt choice, and the moderating effect of institutional owners," Global Finance Journal, Elsevier, vol. 65(C).
    205. Jadiyappa, Nemiraja & Vanga, Nagi Reddy & Krishnankutty, Raveesh, 2016. "Financial liberalisation and Capital structuring decisions of corporate firms: Evidence from India," Economics Letters, Elsevier, vol. 149(C), pages 33-37.
    206. Feixue Gong & Gregory Phelan, 2023. "Collateral constraints, tranching, and price bases," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(2), pages 317-340, February.
    207. Mai, Nhat Chi, 2012. "Market timing, taxes and capital structure: evidence from Vietnam," OSF Preprints t3mvs, Center for Open Science.
    208. Tetiana Davydiuk, 2017. "Dynamic Bank Capital Requirements," 2017 Meeting Papers 1328, Society for Economic Dynamics.
    209. Kose John & Mahsa S Kaviani & Lawrence Kryzanowski & Hosein Maleki, 2021. "Do Country-Level Creditor Protections Affect Firm-Level Debt Structure Concentration? [Why not a political Coase theorem? Social conflict, commitment, and politics]," Review of Finance, European Finance Association, vol. 25(6), pages 1677-1725.
    210. Perla, Jesse & Pflueger, Carolin & Szkup, Michal, 2024. "Commitment and investment distortions under limited liability," Journal of Economic Theory, Elsevier, vol. 222(C).
    211. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "Secured Credit Spreads," Working Papers 2020-14, Becker Friedman Institute for Research In Economics.
    212. Yao, Wenyun & Yang, Hang & Shi, Xiulian & Song, Zilong, 2024. "Top management team stability and debt concentration," International Review of Financial Analysis, Elsevier, vol. 91(C).
    213. Agliardi, Elettra & Koussis, Nicos, 2011. "Optimal capital structure and investment options in finite horizon," Finance Research Letters, Elsevier, vol. 8(1), pages 28-36, March.
    214. Kirti, Divya, 2020. "Why do bank-dependent firms bear interest-rate risk?," Journal of Financial Intermediation, Elsevier, vol. 41(C).
    215. Armanious, Amir & Zhao, Ruoyun, 2024. "Stock liquidity effect on leverage: The role of debt security, financial constraint, and risk around the global financial crisis and Covid-19 pandemic," International Review of Financial Analysis, Elsevier, vol. 92(C).
    216. Beyhaghi, Mehdi & Mahmoudi, Babak & Mohammadi, Ali, 2013. "Adverse Selection and Search Frictions in Corporate Loan Contracts," MPRA Paper 49780, University Library of Munich, Germany.
    217. Mazumder, Sharif & Rao, Ramesh, 2023. "Social trust and the choice between bank debt and public debt: Evidence from international data," Journal of Multinational Financial Management, Elsevier, vol. 67(C).
    218. Kei-Ichiro Inaba, 2020. "A Global Look into Corporate Cash after the Global Financial Crisis," IMES Discussion Paper Series 20-E-07, Institute for Monetary and Economic Studies, Bank of Japan.
    219. Hann-Shing Ju & Ren-Raw Chen & Shih-Kuo Yeh & Tung-Hsiao Yang, 2015. "Evaluation of conducting capital structure arbitrage using the multi-period extended Geske–Johnson model," Review of Quantitative Finance and Accounting, Springer, vol. 44(1), pages 89-111, January.
    220. Byung-Chul Ju, 2024. "Capital Structure Dynamics: Evidence from the Korean Listing Market," Sustainability, MDPI, vol. 16(11), pages 1-22, May.
    221. Bernardus Ferdinandus Nazar Van Doornik & Lucio Rodrigues Capelletto, 2015. "Collateral after the Brazilian Creditor Rights Reform," Working Papers Series 404, Central Bank of Brazil, Research Department.
    222. Anna Białek-Jaworska & Natalia Nehrebecka, 2016. "Determinants of Polish Enterprises' Propensity to Lease," Working Papers 2016-07, Faculty of Economic Sciences, University of Warsaw.
    223. Wong, Raymond M.K. & Dak-Adzaklo, Cephas Simon Peter & Lo, Agnes W.Y., 2024. "Debt choice in the regulated competition era," Journal of International Money and Finance, Elsevier, vol. 142(C).
    224. Abhishek Bhardwaj & Abhinav Gupta & Sabrina T. Howell, 2025. "Leveraged Payouts: How Using New Debt to Pay Returns in Private Equity Affects Firms, Employees, Creditors, and Investors," Working Papers 25-12, Center for Economic Studies, U.S. Census Bureau.
    225. Al-Ayyoub, Naser & Phan, Hieu V., 2026. "Riskier climate, closer ties? How climate risk drives firms towards bank debt financing," Journal of Corporate Finance, Elsevier, vol. 96(C).
    226. Zechner, Josef & Halling, Michael & Yu, Jin, 2020. "The Dynamics of Corporate Debt Structure," CEPR Discussion Papers 14572, Centre for Economic Policy Research.
    227. Pereira da Silva, Paulo & Vieira, Isabel & Vieira, Carlos, 2015. "M&A operations: Further evidence of informed trading in the CDS market," Journal of Multinational Financial Management, Elsevier, vol. 32, pages 116-130.
    228. Hardy, Bryan, 2023. "Foreign currency borrowing, balance sheet shocks, and real outcomes," Journal of International Money and Finance, Elsevier, vol. 139(C).
    229. Wang, Kun Tracy & Wu, Yue & Sun, Aonan, 2021. "Acquisitions and the cost of debt: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 78(C).
    230. Mariya Letdin, 2017. "Under the Lender’s Looking Glass," The Journal of Real Estate Finance and Economics, Springer, vol. 55(4), pages 435-456, November.
    231. Hubert Bruslerie & Luminita Enache, 2023. "The dynamics of leverage of newly controlled target firms: evidence after an acquisition," Review of Quantitative Finance and Accounting, Springer, vol. 61(2), pages 411-445, August.
    232. Ben-Nasr, Hamdi & Boubaker, Sabri & Sassi, Syrine, 2021. "Board reforms and debt choice," Journal of Corporate Finance, Elsevier, vol. 69(C).
    233. Gan, Liu & Xia, Xin & Zhang, Hai, 2022. "Debt structure and debt overhang," Journal of Corporate Finance, Elsevier, vol. 74(C).
    234. Li, Ying & Li, Lingxiao & Zhu, Bing, 2025. "Executive compensation and secured debt: Evidence from REITs," Journal of Corporate Finance, Elsevier, vol. 91(C).
    235. Donaldson, Jason Roderick & Gromb, Denis & Piacentino, Giorgia, 2020. "The paradox of pledgeability," Journal of Financial Economics, Elsevier, vol. 137(3), pages 591-605.
    236. Joel M. Vanden, 2016. "Optimal capital structures for private firms," Annals of Finance, Springer, vol. 12(2), pages 245-273, May.
    237. Alessandra Iannamorelli & Stefano Nobili & Antonio Scalia & Luana Zaccaria, 2020. "Asymmetric information in corporate lending: evidence from SME bond markets," Temi di discussione (Economic working papers) 1292, Bank of Italy, Economic Research and International Relations Area.
    238. Mascia Bedendo & Linus Siming, 2016. "Debt Structure and Credit Ratings," BAFFI CAREFIN Working Papers 1622, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    239. Mohamed, Hisham Hanifa & Masih, Mansur & Bacha, Obiyathulla I., 2015. "Why do issuers issue Sukuk or conventional bond? Evidence from Malaysian listed firms using partial adjustment models," Pacific-Basin Finance Journal, Elsevier, vol. 34(C), pages 233-252.
    240. Orlova, Svetlana & Harper, Joel T. & Sun, Li, 2020. "Determinants of capital structure complexity," Journal of Economics and Business, Elsevier, vol. 110(C).
    241. Zhu, Zhiliang & Song, Wuqi, 2025. "Does credit information sharing affect corporate debt concentration? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    242. David Bholat & Rosa Lastra & Sheri Markose & Andrea Miglionico & Kallol Sen, 2016. "Non-performing loans: regulatory and accounting treatments of assets," Bank of England working papers 594, Bank of England.
    243. Tian, Haowen & Wang, Junkai & Wu, Sirui, 2024. "Supply chain vertical common ownership and cost of loans," Journal of Corporate Finance, Elsevier, vol. 89(C).
    244. Young Sang Kim & Junyoup Lee & Ha-Chin Yi, 2021. "Is Foreign Exchange Risk Priced in Bank Loan Spreads?," Review of Quantitative Finance and Accounting, Springer, vol. 57(3), pages 1061-1092, October.

  32. Amy Finkelstein & Kathleen McGarry & Amir Sufi, 2005. "Dynamic Inefficiencies in Insurance Markets: Evidence from long-term care insurance," NBER Working Papers 11039, National Bureau of Economic Research, Inc.

    Cited by:

    1. Coe, Norma B. & Skira, Meghan M. & Van Houtven, Courtney Harold, 2015. "Long-term care insurance: Does experience matter?," Journal of Health Economics, Elsevier, vol. 40(C), pages 122-131.
    2. Iwamoto, Yasushi & Kohara, Miki & Saito, Makoto, 2010. "On the consumption insurance effects of long-term care insurance in Japan: Evidence from micro-level household data," Journal of the Japanese and International Economies, Elsevier, vol. 24(1), pages 99-115, March.
    3. Randall D. Cebul & James B. Rebitzer & Lowell J. Taylor & Mark E. Votruba, 2008. "Unhealthy Insurance Markets: Search Frictions and the Cost and Quality of Health Insurance," NBER Working Papers 14455, National Bureau of Economic Research, Inc.
    4. Brown, Jeffrey R. & Finkelstein, Amy, 2007. "Why is the market for long-term care insurance so small?," Journal of Public Economics, Elsevier, vol. 91(10), pages 1967-1991, November.
    5. Alma Cohen & Peter Siegelman, 2009. "Testing for Adverse Selection in Insurance Markets," NBER Working Papers 15586, National Bureau of Economic Research, Inc.
    6. Helmuth Cremer & Pierre Pestieau, 2009. "Securing Long-term Care in the EU: Some Key Issues," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 7(04), pages 8-11, January.
    7. Soheil Ghili & Ben Handel & Igal Hendel & Michael D. Whinston, 2019. "Optimal Long-Term Health Insurance Contracts: Characterization, Computation, and Welfare Effects," Cowles Foundation Discussion Papers 2218R, Cowles Foundation for Research in Economics, Yale University, revised Jul 2020.
    8. Martin Dumav, 2013. "Health Insurance over the Life Cycle with Adverse Selection," 2013 Meeting Papers 1138, Society for Economic Dynamics.
    9. Pashchenko, Svetlana & Porapakkarm, Ponpoje, 2015. "Welfare costs of reclassification risk in the health insurance market," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 21-44.
    10. R. Tamara Konetzka & Ye Luo, 2011. "Explaining lapse in long‐term care insurance markets," Health Economics, John Wiley & Sons, Ltd., vol. 20(10), pages 1169-1183, October.
    11. Hanming Fang & Alessandro Gavazza, 2011. "Dynamic Inefficiencies in an Employment-Based Health Insurance System: Theory and Evidence," American Economic Review, American Economic Association, vol. 101(7), pages 3047-3077, December.
    12. Annette Hofmann & Mark Browne, 2013. "One-sided commitment in dynamic insurance contracts: Evidence from private health insurance in Germany," Journal of Risk and Uncertainty, Springer, vol. 46(1), pages 81-112, February.
    13. Jeffrey R. Brown & Amy Finkelstein, 2011. "Insuring Long-Term Care in the United States," Journal of Economic Perspectives, American Economic Association, vol. 25(4), pages 119-142, Fall.
    14. Amy Finkelstein & Kathleen McGarry, 2006. "Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market," American Economic Review, American Economic Association, vol. 96(4), pages 938-958, September.
    15. Ehing, Daniel, 2015. "Marktversagen auf dem geförderten Pflegezusatzversicherungsmarkt? Ergebnisse einer Simulationsanalyse auf Basis von Routinedaten der GKV," FZG Discussion Papers 58, University of Freiburg, Research Center for Generational Contracts (FZG).
    16. He, Daifeng, 2011. "Is there dynamic adverse selection in the life insurance market?," Economics Letters, Elsevier, vol. 112(1), pages 113-115, July.
    17. Casaburi, Lorenzo & ,, 2018. "Time vs. State in Insurance: Experimental Evidence from Contract Farming in Kenya," CEPR Discussion Papers 12896, Centre for Economic Policy Research.
    18. Jeffrey R. Brown & Norma B. Coe & Amy Finkelstein, 2006. "Medicaid Crowd-Out of Private Long-Term Care Insurance Demand: Evidence from the Health and Retirement Survey," NBER Working Papers 12536, National Bureau of Economic Research, Inc.
    19. Costa-Font, Joan & Frank, Richard & Raut, Nilesh, 2025. "The Effects of Wealth Shocks on Public and Private Long-Term Care Insurance," IZA Discussion Papers 18287, IZA Network @ LISER.
    20. Xiaoqi Zhang & Yi Chen & Yi Yao, 2021. "Dynamic information asymmetry in micro health insurance: implications for sustainability," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 468-507, July.
    21. CREMER, Helmuth & PESTIEAU, Pierre & PONTHIERE, Grégory, 2012. "The economics of long-term care: a survey," LIDAM Reprints CORE 2466, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    22. Ponpoje Porapakkarm & Svetlana Pashchenko, 2011. "Front-loaded contracts in health insurance market: How valuable is guaranteed renewability?," 2011 Meeting Papers 1268, Society for Economic Dynamics.
    23. Ziebarth, Nicolas R., 2017. "Social Insurance and Health," IZA Discussion Papers 10918, IZA Network @ LISER.
    24. Denis Kessler, 2010. "Confronting the Challenge of Long-term Care in Europe," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(02), pages 18-23, July.
    25. Nathaniel Hendren & Camille Landais & Johannes Spinnewijn, 2021. "Choice in Insurance Markets: A Pigouvian Approach to Social Insurance Design," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 457-486, August.
    26. Wiseman, Thomas, 2018. "Competitive long-term health insurance," Journal of Health Economics, Elsevier, vol. 58(C), pages 144-150.
    27. Leora Friedberg & Wenliang Hou & Wei Sun & Anthony Webb, 2017. "Lapses in Long-Term Care Insurance," SCEPA working paper series. 2017-08, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    28. James M. Carson & Cameron M. Ellis & Robert E. Hoyt & Krzysztof Ostaszewski, 2020. "Sunk Costs and Screening: Two‐Part Tariffs in Life Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(3), pages 689-718, September.
    29. Yamamoto, Shinichi & 山本, 信一 & Yoneyama, Takau & 米山, 高生 & Kwon, W. Jean, 2012. "An Experimental Study On Adverse Selection And Moral Hazard," Hitotsubashi Journal of commerce and management, Hitotsubashi University, vol. 46(1), pages 51-64, October.
    30. Ozkan, Serdar, 2025. "Income differences and health disparities: Roles of preventive vs. curative medicine," Journal of Monetary Economics, Elsevier, vol. 150(C).
    31. Juan Pablo Atal, 2019. "Lock-in in Dynamic Health Insurance Contracts: Evidence from Chile," PIER Working Paper Archive 19-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    32. Lambregts, Timo R. & Schut, Frederik T., 2020. "Displaced, disliked and misunderstood: A systematic review of the reasons for low uptake of long-term care insurance and life annuities," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).
    33. Soheil Ghili & Ben Handel & Igal Hendel & Michael D. Whinston, 2019. "The Welfare Effects of Long-Term Health Insurance Contracts," Cowles Foundation Discussion Papers 2218, Cowles Foundation for Research in Economics, Yale University.
    34. Nathaniel Hendren, 2021. "Measuring Ex Ante Welfare in Insurance Markets [Some Aspects of Optimal Unemployment Insurance]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(3), pages 1193-1223.
    35. Benjamin R. Handel & Igal Hendel & Michael D. Whinston, 2013. "Equilibria in Health Exchanges: Adverse Selection vs. Reclassification Risk," NBER Working Papers 19399, National Bureau of Economic Research, Inc.
    36. Shiyi Chen & Xiaoxiao Ding & Pingyi Lou & Hong Song, 2022. "New evidence of moral hazard: Environmental liability insurance and firms' environmental performance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 89(3), pages 581-613, September.
    37. Gunnsteinsson, Snaebjorn, 2020. "Experimental identification of asymmetric information: Evidence on crop insurance in the Philippines," Journal of Development Economics, Elsevier, vol. 144(C).
    38. Norma B. Coe & Gopi Shah Goda & Courtney Harold Van Houtven, 2015. "Family Spillovers of Long-Term Care Insurance," NBER Working Papers 21483, National Bureau of Economic Research, Inc.
    39. Georges Dionne & Nathalie Fombaron & Wanda Mimra, 2023. "Adverse selection in insurance," Working Papers 23-5, HEC Montreal, Canada Research Chair in Risk Management.
    40. Garcia, Daniel & Tsur, Matan, 2021. "Information design in competitive insurance markets," Journal of Economic Theory, Elsevier, vol. 191(C).
    41. Ruo Jia & Zenan Wu, 2019. "Insurer commitment and dynamic pricing pattern," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(1), pages 87-135, March.
    42. Denderski, Piotr & Stoltenberg, Christian A., 2023. "On the existence of private unemployment insurance with advance information on future job losses," Journal of Public Economics, Elsevier, vol. 224(C).
    43. Coe, Norma B. & Goda, Gopi Shah & Van Houtven, Courtney Harold, 2023. "Family spillovers and long-term care insurance," Journal of Health Economics, Elsevier, vol. 90(C).
    44. Jean Pinquet & Montserrat Guillén & Mercedes Ayuso, 2011. "Commitment and Lapse Behavior in Long-Term Insurance: A Case Study," Post-Print hal-00374303, HAL.
    45. Ruo Jia & Zenan Wu, 2019. "Insurer commitment and dynamic pricing pattern," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(1), pages 87-135, March.
    46. Jeffrey R. Brown & Amy Finkelstein, 2004. "Supply or Demand: Why is the Market for Long-Term Care Insurance So Small?," NBER Working Papers 10782, National Bureau of Economic Research, Inc.
    47. Yasushi Iwamoto & Miki Kohara & Makoto Saito, 2006. "On the Consumption Insurance Effects of Long-term Care Insurance In Japan: Evidence from Micro Household Data," CIRJE F-Series CIRJE-F-443, CIRJE, Faculty of Economics, University of Tokyo.
    48. Lee M. Lockwood, 2014. "Incidental Bequests and the Choice to Self-Insure Late-Life Risks," NBER Working Papers 20745, National Bureau of Economic Research, Inc.
    49. Thomas Url, 2011. "Private Versicherungen als Finanzierungsquelle für den Pflegebedarf im Alter," WIFO Studies, WIFO, number 41358.
    50. Soheil Ghili & Ben Handel & Igal Hendel & Michael D. Whinston, 2019. "Optimal Long-Term Health Insurance Contracts: Characterization, Computation, and Welfare Effects," Cowles Foundation Discussion Papers 2218R2, Cowles Foundation for Research in Economics, Yale University, revised May 2021.
    51. Atal, Juan Pablo & Fang, Hanming & Karlsson, Martin & Ziebarth, Nicolas R., 2021. "Long-term health insurance: Theory meets evidence," ZEW Discussion Papers 21-094, ZEW - Leibniz Centre for European Economic Research.
    52. Martin Eling & Omid Ghavibazoo, 2019. "Research on long-term care insurance: status quo and directions for future research," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(2), pages 303-356, April.
    53. Benjamin R. Handel & Igal Hendel & Michael D. Whinston, 2017. "The Welfare Effects of Long-Term Health Insurance Contracts," NBER Working Papers 23624, National Bureau of Economic Research, Inc.
    54. Daniel Garcia & Roee Teper & Matan Tsur, 2018. "Information Design in Insurance Markets: Selling Peaches in a Market for Lemons," CESifo Working Paper Series 6853, CESifo.
    55. Amy Finkelstein & Kathleen McGarry & Amir Sufi, 2005. "Dynamic Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance," American Economic Review, American Economic Association, vol. 95(2), pages 224-228, May.
    56. Crainich, David & Goldzahl, Léontine & Jusot, Florence & Mignon, Doriane, 2025. "Explaining the long-term care insurance puzzle: The role of preferences for correlation and for quality of life over wealth," Journal of Health Economics, Elsevier, vol. 103(C).
    57. Jeffrey Brown & Amy Finkelstein, 2011. "Insuring Long Term Care In the US," NBER Working Papers 17451, National Bureau of Economic Research, Inc.
    58. Juan Pablo Atal & Hanming Fang & Martin Karlsson & Nicolas R. Ziebarth, 2020. "German Long-Term Health Insurance: Theory Meets Evidence," NBER Working Papers 26870, National Bureau of Economic Research, Inc.

  33. Sandra E. Black & Amir Sufi, 2002. "Who Goes to College? Differential Enrollment by Race and Family Background," NBER Working Papers 9310, National Bureau of Economic Research, Inc.

    Cited by:

    1. Wolter, Stefan C., 2003. "Sibling Rivalry: A Six Country Comparison," IZA Discussion Papers 734, IZA Network @ LISER.
    2. Carneiro, Pedro & Heckman, James J. & Masterov, Dimitriy V., 2005. "Labor Market Discrimination and Racial Differences in Premarket Factors," IZA Discussion Papers 1453, IZA Network @ LISER.
    3. Tolani Britton, 2022. "Does Locked Up Mean Locked Out? The Effects of the Anti-Drug Abuse Act of 1986 on Black Male Students’ College Enrollment," Journal of Economics, Race, and Policy, Springer, vol. 5(1), pages 54-71, March.
    4. Cecilia Albert Verdú & Carlos Giovanni González Espitia & Jhon James Mora Rodríguez, 2013. "Determinantes de la demanda de educación universitaria en Colombia, 1980-2010," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 15(29), pages 169-194, July-Dece.
    5. Yolanda Kodrzycki, 2004. "College completion gaps between blacks and whites: what accounts for regional differences," New England Economic Review, Federal Reserve Bank of Boston, pages 37-62.
    6. Sørensen, Elise Stenholt & Høst, Anders Kamp, 2015. "Does distance determine who is in higher education?," MPRA Paper 74517, University Library of Munich, Germany.
    7. Linda Loury, 2006. "All in the Extended Family: Grandparents, Aunts, and Uncles and Educational Attainment," Discussion Papers Series, Department of Economics, Tufts University 0618, Department of Economics, Tufts University.
    8. Houseworth, Christina & Fisher, Jonathan, 2011. "The Reverse Wage Gap among Educated White and Black Women," MPRA Paper 35827, University Library of Munich, Germany.
    9. Carla Sá & Raymond J.G.M. Florax & Piet Rietveld, 2004. "Does Accessibility to Higher Education matter? Choice Behavior of High School Graduates in the Netherlands," Tinbergen Institute Discussion Papers 04-061/3, Tinbergen Institute.
    10. Gilpin, Gregory A. & Saunders, Joseph & Stoddard, Christiana, 2015. "Why has for-profit colleges’ share of higher education expanded so rapidly? Estimating the responsiveness to labor market changes," Economics of Education Review, Elsevier, vol. 45(C), pages 53-63.
    11. Regina Riphahn & Florian Schieferdecker, 2012. "The transition to tertiary education and parental background over time," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(2), pages 635-675, January.
    12. Linda Datcher Loury, 2007. "Am I Still Too Black For You?: Schooling and Secular Change in Skin Tone Effects," Discussion Papers Series, Department of Economics, Tufts University 0712, Department of Economics, Tufts University.
    13. Duncan, Brian & Mansour, Hani & Rintala, Bryson, 2016. "Weighing the Military Option: The Effects of Wartime Conditions on Investments in Human Capital," IZA Discussion Papers 10211, IZA Network @ LISER.
    14. Jo Blanden & Paul Gregg & Stephen Machin, 2003. "Changes in Educational Inequality," The Centre for Market and Public Organisation 03/079, The Centre for Market and Public Organisation, University of Bristol, UK.
    15. Lisa Meehan & Gail Pacheco & Zoe Pushon, 2017. "Explaining ethnic disparities in bachelor’s degree participation: Evidence from NZ," Working Papers 2017-03, Auckland University of Technology, Department of Economics.
    16. Aysit Tansel & Fatma Bircan, 2005. "Effect of Private Tutoring on University Entrance Examination Performance in Turkey," ERC Working Papers 0504, ERC - Economic Research Center, Middle East Technical University, revised Jun 2005.
    17. H. Kenny Nienhusser & Toko Oshio, 2017. "High School Students’ Accuracy in Estimating the Cost of College: A Proposed Methodological Approach and Differences Among Racial/Ethnic Groups and College Financial-Related Factors," Research in Higher Education, Springer;Association for Institutional Research, vol. 58(7), pages 723-745, November.
    18. Lisa Meehan & Gail Pacheco & Zoe Pushon, 2017. "Explaining ethnic disparities in bachelor's qualifications: Participation, retention and completion in NZ," Working Papers 2017/01, New Zealand Productivity Commission.
    19. William Evans & Wooyoung Kim, 2006. "The Impact of Local Labor Market Conditions on the Demand for Education: Evidence from Indian Casinos," Working Papers 06-14, Center for Economic Studies, U.S. Census Bureau.
    20. Britton, Tolani, 2019. "Does Locked Up Mean Locked Out? The Effects of the Anti-Drug Act of 1986 on Black Male Students’ College Enrollment. Working Paper #101-19," Institute for Research on Labor and Employment, Working Paper Series qt05g6308r, Institute of Industrial Relations, UC Berkeley.
    21. Bedard, Kelly & Herman, Douglas A., 2008. "Who goes to graduate/professional school? The importance of economic fluctuations, undergraduate field, and ability," Economics of Education Review, Elsevier, vol. 27(2), pages 197-210, April.
    22. Linda Loury, 2008. "All In The Extended Family: Grandparents and College Attendance," Discussion Papers Series, Department of Economics, Tufts University 0718, Department of Economics, Tufts University.
    23. Linda Loury, 2006. "All in the Extended Family: Grandparents, Aunts, and Uncles and Educational Attainment," Discussion Papers Series, Department of Economics, Tufts University 0610, Department of Economics, Tufts University.

Articles

  1. Atif Mian & Amir Sufi & Emil Verner, 2017. "How Do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s," Community Development Publications and Reports, Federal Reserve Bank of St. Louis, pages 1-59, October.
    See citations under working paper version above.
  2. Atif Mian & Amir Sufi, 2013. "Aggregate demand and state-level employment," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue feb11.

    Cited by:

    1. John C. Williams, 2014. "Navigating toward normal: the future for policy," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.

  3. Atif Mian & Amir Sufi, 2012. "The Effects of Fiscal Stimulus: Evidence from the 2009 Cash for Clunkers Program," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(3), pages 1107-1142.
    See citations under working paper version above.
  4. Atif Mian & Amir Sufi, 2011. "House Prices, Home Equity-Based Borrowing, and the US Household Leverage Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 2132-2156, August.
    See citations under working paper version above.
  5. Joshua D. Rauh & Amir Sufi, 2011. "Explaining Corporate Capital Structure: Product Markets, Leases, and Asset Similarity," Review of Finance, European Finance Association, vol. 16(1), pages 115-155.

    Cited by:

    1. He, Wen & Hu, Maggie Rong & Mi, Lin & Yu, Jin, 2021. "How stable are corporate capital structures? International evidence," Journal of Banking & Finance, Elsevier, vol. 126(C).
    2. Boehm, Johannes & Sonntag, Jan, 2019. "Vertical integration and foreclosure: evidence from production network data," LSE Research Online Documents on Economics 103401, London School of Economics and Political Science, LSE Library.
    3. Leonid Kogan & Dimitris Papanikolaou & Noah Stoffman, 2013. "Winners and Losers: Creative Destruction and the Stock Market," NBER Working Papers 18671, National Bureau of Economic Research, Inc.
    4. Ram Yamarthy & Amir Yaron & Joao Gomes, 2015. "Carlstrom and Fuerst meets Epstein and Zin: The Asset Pricing Implications of Contracting Frictions," 2015 Meeting Papers 1267, Society for Economic Dynamics.
    5. Viktoriya Staneva, 2024. "CEO turnovers and capital structure persistence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 693-721, March.
    6. Lin, Yu-En & Jiang, Xiao-Tong & Yu, Bo & Lam, Keith S.K., 2023. "Compensation peer crash risks and corporate own investments: New evidences from U.S. stock markets," International Review of Financial Analysis, Elsevier, vol. 89(C).
    7. Orlova, Svetlana & Harper, Joel T. & Sun, Li, 2020. "Determinants of capital structure complexity," Journal of Economics and Business, Elsevier, vol. 110(C).

  6. Atif Mian & Amir Sufi, 2011. "Consumers and the economy, part II: Household debt and the weak U.S. recovery," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jan18.

    Cited by:

    1. Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2011. "When credit bites back: leverage, business cycles, and crises," Working Paper Series 2011-27, Federal Reserve Bank of San Francisco.
    2. Ali Güneş & Cengiz Tunç, 2021. "Saving Impact of Mortgage Payments: A Microlevel Study for the U.S. Households," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(S2), pages 335-360, September.
    3. Jiseob Kim, 2016. "Why household debt held by Korean seniors is problematic: An international comparison," Economics Bulletin, AccessEcon, vol. 36(4), pages 2080-2093.

  7. Joshua D. Rauh & Amir Sufi, 2010. "Capital Structure and Debt Structure," The Review of Financial Studies, Society for Financial Studies, vol. 23(12), pages 4242-4280, December.
    See citations under working paper version above.
  8. Atif Mian & Amir Sufi, 2010. "The Great Recession: Lessons from Microeconomic Data," American Economic Review, American Economic Association, vol. 100(2), pages 51-56, May.

    Cited by:

    1. Caloia, Francesco G., 2024. "Borrower-based measures, house prices and household debt," Journal of International Money and Finance, Elsevier, vol. 143(C).
    2. Todd Gabe & Richard Florida & Charlotta Mellander, 2012. "The Creative Class and the crisis," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 6(1), pages 37-53.
    3. Benoit Julien & John Kennes & Ian King, "undated". "Quality Job Programs, Unemployment and the Job Quality Mix," MRG Discussion Paper Series 4721, School of Economics, University of Queensland, Australia.
    4. Juliano J. Assunção & Efraim Benmelech & Fernando S. S. Silva, 2012. "Repossession and the Democratization of Credit," NBER Working Papers 17858, National Bureau of Economic Research, Inc.
    5. Mr. Thomas Helbling & Mr. Ayhan Kose & Mr. Christopher Otrok & Raju Huidrom, 2010. "Do Credit Shocks Matter? A Global Perspective," IMF Working Papers 2010/261, International Monetary Fund.
    6. Robert E. Hall, 2016. "Macroeconomics of Persistent Slumps," NBER Working Papers 22230, National Bureau of Economic Research, Inc.
    7. Miguel Almunia & David López-Rodríguez & Enrique Moral-Benito, 2018. "Evaluating the macro-representativeness of a firm-level database: an application for the Spanish economy," Occasional Papers 1802, Banco de España.
    8. Barry Z. Cynamon & Steven M. Fazzari, 2016. "Inequality, the Great Recession and slow recovery," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(2), pages 373-399.
    9. Sarlin, Peter & Ramsay, Bruce A., 2014. "Ending over-lending: Assessing systemic risk with debt to cash flow," Bank of Finland Research Discussion Papers 11/2014, Bank of Finland.
    10. Callan Windsor, 2021. "The Intellectual Ideas Inside Central Banks: What'S Changed (Or Not) Since The Crisis?," Journal of Economic Surveys, Wiley Blackwell, vol. 35(2), pages 539-565, April.
    11. Khan, Salman & Azmat, Saad, 2020. "Debt externality in equity markets: Leveraged portfolios and Islamic indices," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 152-177.
    12. Berge, Travis, 2012. "Has globalization increased the synchronicity of international business cycles?," MPRA Paper 42392, University Library of Munich, Germany.
    13. Alan Xiaochen Feng, 2018. "Bank Competition, Risk Taking, and their Consequences: Evidence from the U.S. Mortgage and Labor Markets," IMF Working Papers 2018/157, International Monetary Fund.
    14. David M. Frankel, 2010. "Rent Seeking and Economic Fragility," Levine's Bibliography 661465000000000159, UCLA Department of Economics.
    15. Dzsamila Vonnak, 2015. "Decomposing the Riskiness of Corporate Foreign Currency Lending: the Case of Hungary," KRTK-KTI WORKING PAPERS 1528, Institute of Economics, Centre for Economic and Regional Studies.
    16. McNulty, James E. & Akhigbe, Aigbe, 2017. "What do a bank’s legal expenses reveal about its internal controls and operational risk?," Journal of Financial Stability, Elsevier, vol. 30(C), pages 181-191.
    17. Kartik B. Athreya & Ryan Mather & Jose Mustre-del-Rio & Juan M. Sanchez, 2019. "Consumption in the Great Recession: The Financial Distress Channel," Working Paper 19-13, Federal Reserve Bank of Richmond.
    18. Dungey, Mardi & Milunovich, George & Thorp, Susan & Yang, Minxian, 2015. "Endogenous crisis dating and contagion using smooth transition structural GARCH," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 71-79.
    19. Ozili, Peterson & Arun, Thankom, 2020. "Spillover of COVID-19: Impact on the Global Economy," MPRA Paper 99317, University Library of Munich, Germany.
    20. Valentina Michelangeli & Enrico Sette, 2016. "How does bank capital affect the supply of mortgages? Evidence from a randomized experiment," Temi di discussione (Economic working papers) 1051, Bank of Italy, Economic Research and International Relations Area.
    21. Ham, Hyuna & Ryu, Doojin & Webb, Robert I., 2022. "The effects of overnight events on daytime trading sessions," International Review of Financial Analysis, Elsevier, vol. 83(C).
    22. Zhang, Dongyang & Guo, Rui, 2020. "The consumption response to household leverage in China: The role of investment at household level," International Review of Financial Analysis, Elsevier, vol. 71(C).
    23. Paul Beaudry & Dana Galizia & Franck Portier, 2014. "Reconciling Hayek's and Keynes Views of Recessions," NBER Working Papers 20101, National Bureau of Economic Research, Inc.
    24. Merike Kukk, 2015. "How Did Household Indebtedness Hamper Consumption during the Recession? Evidence from Micro Data," a/ Working Papers Series 1505, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    25. Michael Brocker & Christopher Hanes, 2014. "The 1920s American Real Estate Boom and the Downturn of the Great Depression: Evidence from City Cross-Sections," NBER Chapters, in: Housing and Mortgage Markets in Historical Perspective, pages 161-201, National Bureau of Economic Research, Inc.
    26. Josh Ryan-Collins, 2015. "Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935-75," Economics Working Paper Archive wp_848, Levy Economics Institute.
    27. Huo, Zhen, 2016. "Financial Frictions, Asset Prices, and the Great Recession," CEPR Discussion Papers 11544, Centre for Economic Policy Research.
    28. Saud Asaad Al‐Thaqeb & Barrak Ghanim Algharabali & Khaled Tareq Alabdulghafour, 2022. "The pandemic and economic policy uncertainty," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 2784-2794, July.
    29. Conti, Claudio Ramos & Goldszmidt, Rafael & Vasconcelos, Flávio Carvalho de, 2020. "Firm characteristics and capabilities that enable superior performance in recessions," Journal of Business Research, Elsevier, vol. 119(C), pages 553-561.
    30. Chen, Ji & Yang, Xinglin & Liu, Xiliang, 2022. "Learning, disagreement and inflation forecasting," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    31. Ballouk, Hossein & Ben Jabeur, Sami & Challita, Sandra & Chen, Chaomei, 2024. "Financial stability: A scientometric analysis and research agenda," Research in International Business and Finance, Elsevier, vol. 70(PA).
    32. Ben-David, Itzhak, 2011. "High Leverage and Willingness to Pay: Evidence from the Residential Housing Market," Working Paper Series 2011-17, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    33. Freixas, Xavier & Perez-Reyna, David, 2021. "Optimal macroprudential policy and rational bubbles," Journal of Financial Intermediation, Elsevier, vol. 46(C).
    34. Mark E. McGovern & Slawa Rokicki, 2023. "The Great Recession, Household Income, and Children's Test Scores," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 69(3), pages 555-580, September.
    35. Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 2011. "Understanding Booms and Busts in Housing Markets," NBER Working Papers 16734, National Bureau of Economic Research, Inc.
    36. Francisco Serranito & Philipp RODERWEIS & Jamel Saadaoui, 2023. "Is Quantitative Easing Productive? The Role of Bank Lending in the Monetary Transmission Process," EconomiX Working Papers 2023-17, University of Paris Nanterre, EconomiX.
    37. Lansing, Kevin J., 2024. "Replicating business cycles and asset returns with sentiment and low risk aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    38. Dan S. Rickman & Mouhcine Guettabi, 2015. "The Great Recession And Nonmetropolitan America," Journal of Regional Science, Wiley Blackwell, vol. 55(1), pages 93-112, January.
    39. Constantinescu, Mihnea & Nguyen, Anh Dinh Minh, 2021. "A century of gaps: Untangling business cycles from secular trends," Economic Modelling, Elsevier, vol. 100(C).
    40. Mugrabi, Farah & Rünstler, Gerhard, 2025. "Housing and Credit Cycles in Ireland," Research Technical Papers 16/RT/25, Central Bank of Ireland.
    41. Mr. Jaromir Benes & Mr. Douglas Laxton & Mr. Joannes Mongardini, 2016. "Mitigating the Deadly Embrace in Financial Cycles: Countercyclical Buffers and Loan-to-Value Limits," IMF Working Papers 2016/087, International Monetary Fund.
    42. Kartik B. Athreya & Ryan Mather & Jose Mustre-del-Rio & Juan M. Sanchez, 2019. "The Effects of Macroeconomic Shocks: Household Financial Distress Matters," Working Papers 2019-025, Federal Reserve Bank of St. Louis, revised 11 Sep 2023.
    43. von Lilienfeld-Toal, Ulf & Mookherjee, Dilip, 2011. "How Did the US Housing Slump Begin? The Role of the 2005 Bankruptcy Reform," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48726, Verein für Socialpolitik / German Economic Association.
    44. Shi, Yining, 2022. "Financial liberalization and house prices: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 145(C).
    45. Mannan, Kazi Abdul & Farhana, Khandaker Mursheda & Chowdhury, G. M. Omar Faruque, 2020. "The COVID-19 Pandemic Impacts on Manpower Export: An Econometric Analysis of Survival Strategies of Recruiting Agencies in Bangladesh," MPRA Paper 103566, University Library of Munich, Germany, revised 2020.
    46. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Paradox of thrift recessions," Staff Report 490, Federal Reserve Bank of Minneapolis.
    47. Jiaming Soh, 2018. "Disentangling the supply and demand factors of household credit in Malaysia: evidence from the credit register," IFC Working Papers 17, Bank for International Settlements.
    48. Zhen Huo & Jose-Victor Rios-Rull, 2020. "Demand Induced Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 99-117, August.
    49. Claessens, Stijn & Kose, M. Ayhan & Terrones, Marco, 2011. "Financial Cycles: What? How? When?," CEPR Discussion Papers 8379, Centre for Economic Policy Research.
    50. Yang, Hu & Chen, Yu & Chen, Kedong & Wang, Haijun, 2024. "Temporal-spatial dependencies enhanced deep learning model for time series forecast," International Review of Financial Analysis, Elsevier, vol. 94(C).
    51. Jamie L. Cross & Aubrey Poon, 2020. "On the contribution of international shocks in Australian business cycle fluctuations," Empirical Economics, Springer, vol. 59(6), pages 2613-2637, December.
    52. Sultan Mehmood, 2013. "Access to External Finance and Innovation: A Macroeconomic Perspective," CPB Discussion Paper 218, CPB Netherlands Bureau for Economic Policy Analysis.
    53. Kim, Young Il & Kim, Hyoung Chan & Yoo, Joo Hee, 2016. "Household Over-indebtedness and Financial Vulnerability in Korea: Evidence from Credit Bureau Data," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 38(3), pages 53-77.
    54. Fridhi, Bechir, 2020. "Coronavirus (COVID-19) Crisis: What's the Economic Alternative in Tunisia?," EconStor Preprints 225249, ZBW - Leibniz Information Centre for Economics.
    55. Eriksen, Michael D. & Fout, Hamilton B. & Palim, Mark & Rosenblatt, Eric, 2019. "The influence of contract prices and relationships on appraisal bias," Journal of Urban Economics, Elsevier, vol. 111(C), pages 132-143.
    56. Saengchote, Kanis & Samphantharak, Krislert, 2022. "Banking relationship and default priority in consumer credit: Evidence from Thai microdata," Emerging Markets Review, Elsevier, vol. 52(C).
    57. Sergey Bondarkov & Victor Ledenev & Dmitriy Skougarevskiy, 2025. "Russian Financial Statements Database: A firm-level collection of the universe of financial statements," Papers 2501.05841, arXiv.org.
    58. Dutra, Tiago Mota & Dias, José Carlos & Teixeira, João C.A., 2022. "Measuring financial cycles: Empirical evidence for Germany, United Kingdom and United States of America," International Review of Economics & Finance, Elsevier, vol. 79(C), pages 599-630.
    59. Leung, Charles Ka Yui, 2014. "Error correction dynamics of house prices: An equilibrium benchmark," Journal of Housing Economics, Elsevier, vol. 25(C), pages 75-95.
    60. Paolo Acciari & Elisabetta Manzoli & Sauro Mocetti & Eliana Viviana, 2014. "La vulnerabilita' finanziaria: un'analisi per classi di reddito (Financial vulnerability: an analysis by income classes)," Moneta e Credito, Economia civile, vol. 67(268), pages 401-428.
    61. Marieke Bos & Emily Breza & Andres Liberman, 2016. "The Labor Market Effects of Credit Market Information," NBER Working Papers 22436, National Bureau of Economic Research, Inc.
    62. Šagovac Mislav & Šikić Luka, 2016. "Estimation of the firm‘s balance sheet channel effects during the economic crisis: Case of Croatia," Croatian Review of Economic, Business and Social Statistics, Sciendo, vol. 2(2), pages 10-29, December.
    63. Dang, Man & Puwanenthiren, Premkanth & Mazur, Mieszko & Hoang, Viet Anh & Nadarajah, Sivathaasan & Nguyen, Thieu Quang, 2025. "Firm complexity and credit ratings," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    64. Al-Thaqeb, Saud Asaad & Algharabali, Barrak Ghanim, 2019. "Economic policy uncertainty: A literature review," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).
    65. Ernest Gyapong & Ammad Ahmed & Collins G Ntim & Muhammad Nadeem, 2021. "Board gender diversity and dividend policy in Australian listed firms: the effect of ownership concentration," Asia Pacific Journal of Management, Springer, vol. 38(2), pages 603-643, June.
    66. Albanesi, Stefania & DeGiorgi, Giacomo & Nosal, Jaromir, 2022. "Credit growth and the financial crisis: A new narrative," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 118-139.
    67. Daisuke Ikeda & Toan Phan, 2018. "Asset Bubbles and Global Imbalances," Working Paper 18-7, Federal Reserve Bank of Richmond.
    68. Provash Kumer SARKER, 2020. "Covid crisis: Fiscal, monetary and macro-financial policy responses," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(624), A), pages 41-54, Autumn.
    69. Mikael Juselius & Moshe Kim, 2017. "Sustainable Financial Obligations and Crisis Cycles," Econometrics, MDPI, vol. 5(2), pages 1-23, June.
    70. Forrest V. Morgeson & Udit Sharma & Xiaoxu Wu Schultz & Anita Pansari & Ayalla Ruvio & G. Tomas M. Hult, 2024. "Weathering the crash: Do customer-company relationships pay off during economic crises?," Journal of the Academy of Marketing Science, Springer, vol. 52(2), pages 489-511, March.
    71. Dominik Menno & Tommaso Oliviero, 2013. "Financial Intermediation, House Prices, and the Distributive Effects of the U.S. Great Recession," Economics Working Papers ECO2013/05, European University Institute.
    72. Azad, A.S.M.S. & Azmat, Saad & Chazi, Abdelaziz & Ahsan, Amirul, 2018. "Sailing with the non-conventional stocks when there is no place to hide," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 57(C), pages 1-16.
    73. Cross, Jamie & Poon, Aubrey, 2016. "Forecasting structural change and fat-tailed events in Australian macroeconomic variables," Economic Modelling, Elsevier, vol. 58(C), pages 34-51.
    74. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Engineering a paradox of thrift recession," FRB Atlanta CQER Working Paper 2013-03, Federal Reserve Bank of Atlanta.
    75. Iwaki, Hiromichi, 2019. "The effect of debt market imperfection on capital structure and investment: Evidence from the 2008 global financial crisis in Japan," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 251-266.
    76. Simpson, Marc W. & Grossmann, Axel, 2017. "The value of restrictive covenants in the changing bond market dynamics before and after the financial crisis," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 307-319.
    77. Giorgio Canarella & Luis Gil-Alana & Rangan Gupta & Stephen M Miller, 2021. "Persistence and cyclical dynamics of US and UK house prices: Evidence from over 150 years of data," Urban Studies, Urban Studies Journal Limited, vol. 58(1), pages 53-72, January.
    78. Wu, JunJie & Sexton, Steven & Zilberman, David, 2019. "Energy price shocks, household location patterns and housing crises: Theory and implications," Energy Economics, Elsevier, vol. 80(C), pages 691-706.
    79. Deniz Aydin, 2015. "The Marginal Propensity to Consume out of Liquidity," Discussion Papers 15-010, Stanford Institute for Economic Policy Research.
    80. Lenarčič, Črt, 2021. "Estimating business and financial cycles in Slovenia," MPRA Paper 109977, University Library of Munich, Germany.
    81. David Aikman & Andrew Haldane & Marc Hinterschweiger & Sujit Kapadia, 2018. "Rethinking financial stability," Bank of England working papers 712, Bank of England.
    82. Camyar, Isa & Ulupinar, Bahar, 2025. "“Geopolitical crises and economic policy uncertainty: Time series analysis from the United States”," Research in Economics, Elsevier, vol. 79(3).
    83. Menno, Dominik & Oliviero, Tommaso, 2020. "Financial intermediation, house prices, and the welfare effects of the U.S. Great Recession," European Economic Review, Elsevier, vol. 129(C).
    84. Kirti, Divya, 2018. "When gambling for resurrection is too risky," ESRB Working Paper Series 69, European Systemic Risk Board.
    85. Dilla, Diana, 2017. "Staatsverschuldung und Verschuldungsmentalität [Public Debt and Debt Mentality]," MPRA Paper 79432, University Library of Munich, Germany.
    86. Fernando Alexandre & Hélder Costa & Miguel Portela & Miguel Rodrigues, 2018. "Asymmetric regional dynamics: from bust to recovery," NIPE Working Papers 17/2018, NIPE - Universidade do Minho.
    87. Demyanyk, Yuliya & Loutskina, Elena, 2016. "Mortgage companies and regulatory arbitrage," Journal of Financial Economics, Elsevier, vol. 122(2), pages 328-351.
    88. Kanis Saengchote & Krislert Samphantharak, 2020. "Delinquency Priority in Consumer Credit: Evidence from Thai Microdata," PIER Discussion Papers 135, Puey Ungphakorn Institute for Economic Research.
    89. Levitin, Adam & Wachter, Susan, 2012. "Explaining the Housing Bubble," MPRA Paper 41920, University Library of Munich, Germany.
    90. de Bresser, Jochem & Knoef, Marike & Kools, Lieke, 2021. "Cutting one’s coat according to one’s cloth – How did the great recession affect retirement resources and expenditure goals?," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 126-166.
    91. Conti, Annamaria & Dass, Nishant & Di Lorenzo, Francesco & Graham, Stuart J.H., 2019. "Venture capital investment strategies under financing constraints: Evidence from the 2008 financial crisis," Research Policy, Elsevier, vol. 48(3), pages 799-812.
    92. Jiaming Soh, 2019. "Disentangling the Supply and Demand Factors of Household Credit in Malaysia: Evidence from the Credit Register," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Are post-crisis statistical initiatives completed?, volume 49, Bank for International Settlements.
    93. Bliss, Barbara A. & Cheng, Yingmei & Denis, David J., 2015. "Corporate payout, cash retention, and the supply of credit: Evidence from the 2008–2009 credit crisis," Journal of Financial Economics, Elsevier, vol. 115(3), pages 521-540.
    94. Cai, Yang & Chen, Shuo & Li, Dongxu, 2025. "The Long-term effect of social disasters on stock market participation," Journal of Corporate Finance, Elsevier, vol. 93(C).
    95. Jaanika Meriküll & Tairi Rõõm, 2020. "Stress Tests of the Household Sector Using Microdata from Survey and Administrative Sources," International Journal of Central Banking, International Journal of Central Banking, vol. 16(2), pages 203-248, March.
    96. Deng, Tianjie & Xu, Tracy & Lee, Young Jin, 2022. "Policy responses to COVID-19 and stock market reactions - An international evidence," Journal of Economics and Business, Elsevier, vol. 119(C).
    97. de Bresser, Jochem & Kools, Lieke & Knoef, Marike, 2019. "Cutting one’s coat according to one’s cloth : How did the Great Recession affect retirement resources and expenditure goals?," Other publications TiSEM 9415a8f7-182f-4675-893e-c, Tilburg University, School of Economics and Management.
    98. Friedrich Lucke, 2022. "The Great Moderation and the Financial Cycle," Working Papers REM 2022/0238, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    99. Jeremy Gabe & Spenser Robinson & Andrew Sanderford, 2022. "Willingness to Pay for Attributes of Location Efficiency," The Journal of Real Estate Finance and Economics, Springer, vol. 65(3), pages 384-418, October.
    100. Sarlin, Peter & Ramsay, Bruce A., 2015. "Ending over-lending: assessing systemic risk with debt to cash flow," Working Paper Series 1769, European Central Bank.
    101. Koetter, Michael & Noth, Felix & Wöbbeking, Carl Fabian, 2025. "Contractionary macroprudential policy, collateral valuation, and risk-shifting in EU banking," IWH Discussion Papers 4/2025, Halle Institute for Economic Research (IWH), revised 2025.
    102. Laamanen, Jani-Petri, 2013. "Home-ownership and the Labour Market: Evidence from Rental Housing Market Deregulation," MPRA Paper 55256, University Library of Munich, Germany.
    103. Peter Karlström, 2023. "Macroprudential Policy, Credit Booms, and Banks' Systemic Risk," CEMLA Working Paper Series 03/2023, CEMLA.
    104. Philipp Roderweis & Jamel Saadaoui & Francisco Serranito, 2023. "The Unintended Consequences of ECB’s Asset Purchases. How Excess Reserves Shape Bank Lending," Working Papers of BETA 2023-34, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    105. Kahle, Kathleen M. & Stulz, René M., 2013. "Access to capital, investment, and the financial crisis," Journal of Financial Economics, Elsevier, vol. 110(2), pages 280-299.

  9. Atif Mian & Amir Sufi & Francesco Trebbi, 2010. "The Political Economy of the US Mortgage Default Crisis," American Economic Review, American Economic Association, vol. 100(5), pages 1967-1998, December.
    See citations under working paper version above.
  10. Atif Mian & Amir Sufi, 2010. "Household Leverage and the Recession of 2007–09," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 58(1), pages 74-117, August.

    Cited by:

    1. Sarah Brown & Daniel Gray & Alberto Montagnoli, 2018. "Credit Supply Shocks and Household Leverage: Evidence from the US Banking Deregulation," Working Papers 2018009, The University of Sheffield, Department of Economics.
    2. Òscar Jordà & Moritz HP. Schularick & Alan M. Taylor, 2013. "Sovereigns versus Banks: Credit, Crises, and Consequences," NBER Working Papers 19506, National Bureau of Economic Research, Inc.
    3. Mary A. Burke, 2014. "Rhode Island in the Great Recession: factors contributing to its sharp downturn and slow recovery," Current Policy Perspectives 14-9, Federal Reserve Bank of Boston.
    4. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    5. Hamilton Fout & Nuno Mota & Eric Rosenblatt, 2022. "When Appraisers Go Low, Contracts Go Lower: The Impact of Expert Opinions on Transaction Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 65(3), pages 451-491, October.
    6. Philippe Martin & Thomas Philippon, 2014. "Inspecting the Mechanism Leverage and the Great Recession in the Eurozone," Working Papers hal-03460217, HAL.
    7. Luis Angeles, 2020. "Four Phases in the History of Money," Working Papers 2020_24, Business School - Economics, University of Glasgow.
    8. Christopher L. Foote & Paul S. Willen, 2017. "Mortgage-default research and the recent foreclosure crisis," Working Papers 17-13, Federal Reserve Bank of Boston.
    9. Jaison R. Abel & Richard Deitz, 2016. "Underemployment in the Early Careers of College Graduates Following the Great Recession," NBER Working Papers 22654, National Bureau of Economic Research, Inc.
    10. Atif Mian & Amir Sufi, 2010. "The Great Recession: Lessons from Microeconomic Data," American Economic Review, American Economic Association, vol. 100(2), pages 51-56, May.
    11. Zhenyu Gao & Michael Sockin & Wei Xiong, 2019. "Economic Consequences of Housing Speculation," NBER Working Papers 26457, National Bureau of Economic Research, Inc.
    12. Allison Cole, 2016. "Do consumers rely more heavily on credit cards while unemployed?," Research Data Report 16-6, Federal Reserve Bank of Boston.
    13. Andersen, Asger Lau & Duus, Charlotte & Jensen, Thais Lærkholm, 2016. "Household debt and spending during the financial crisis: Evidence from Danish micro data," European Economic Review, Elsevier, vol. 89(C), pages 96-115.
    14. Sumit Agarwal & Itzhak Ben-David & Vincent Yao, 2013. "Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market," NBER Working Papers 19606, National Bureau of Economic Research, Inc.
    15. David Aikman & Jonathan Bridges & Stephen Burgess & Richard Galletly & Iren Levina & Cian O'Neill & Alexandra Varadi, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.
    16. Bruno Albuquerque & Georgi Krustev, 2015. "Debt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption," Staff Working Papers 15-47, Bank of Canada.
    17. Bo Li, 2024. "Household Leverage Cycle Around the Great Recession," Papers 2407.01539, arXiv.org.
    18. Zhang, Xuanyu & Fan, Xiaoyun, 2025. "The impact of household debt on the wealth distribution and inequality in China," China Economic Review, Elsevier, vol. 94(PC).
    19. Òscar Jordà & Martin Kornejew & Moritz Schularick & Alan M. Taylor, 2020. "Zombies at large? Corporate debt overhang and the macroeconomy," ECONtribute Discussion Papers Series 042, University of Bonn and University of Cologne, Germany.
    20. Iren Levina & Robert Sturrock & Alexandra Varadi & Gavin Wallis, 2019. "Modelling the distribution of mortgage debt," Bank of England working papers 808, Bank of England.
    21. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2012. "House prices, credit growth, and excess volatility: implications for monetary and macroprudential policy," Working Paper Series 2012-11, Federal Reserve Bank of San Francisco.
    22. Cardaci, Alberto, 2018. "Inequality, household debt and financial instability: An agent-based perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 149(C), pages 434-458.
    23. Laura Jaramillo & Alexandre Chailloux, 2015. "It’s Not All Fiscal: Effects of Income, Fiscal Policy, and Wealth on Private Consumption," IMF Working Papers 2015/112, International Monetary Fund.
    24. Rémi Bazillier & Jérôme Héricourt & Samuel Ligonnière, 2019. "Structure of Income Inequality and Household Leverage: Theory and Cross-Country Evidence," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-02079212, HAL.
    25. Efraim Benmelech & Ralf R. Meisenzahl & Rodney Ramcharan, 2016. "The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles," NBER Working Papers 22148, National Bureau of Economic Research, Inc.
    26. Nakajima, Jouchi, 2020. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 186-197.
    27. Rémi Bazillier & Jérôme Héricourt & Samuel Ligonnière, 2021. "Structure of income inequality and household leverage : Cross-country causal evidence," Post-Print halshs-03099741, HAL.
    28. Philipp Engler & Giovanni Ganelli & Juha Tervala & Simon Voigts, 2017. "Fiscal Devaluation in a Monetary Union," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(2), pages 241-272, June.
    29. Carter, Justin & Moore, Winston & Jackman, Mahalia, 2012. "Is the Magnitude of Household Debt in Barbados a Concern?," MPRA Paper 47791, University Library of Munich, Germany.
    30. Dimitris Christelis & Michael Ehrmann & Dimitris Georgarakos, 2015. "Exploring Differences in Household Debt Across Euro Area Countries and the United States," Staff Working Papers 15-16, Bank of Canada.
    31. Rafiq, Shuddhasattwa, 2020. "Projecting post-crisis house and equity prices since the 1870s:not all crises are alike," MPRA Paper 103164, University Library of Munich, Germany.
    32. Andreas Fuster & Benedict Guttman-Kenney & Andrew F. Haughwout, 2018. "Tracking and stress-testing U.S. household leverage," Economic Policy Review, Federal Reserve Bank of New York, issue 24-1, pages 35-63.
    33. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    34. Janet Currie & Erdal Tekin, 2011. "Is there a Link Between Foreclosure and Health?," NBER Working Papers 17310, National Bureau of Economic Research, Inc.
    35. Zhu, Haikun, 2018. "Essays on political economy of finance and fintech," Other publications TiSEM 93f94423-e671-4041-bb24-8, Tilburg University, School of Economics and Management.
    36. Alimov, Behzod, 2019. "Private debt, public debt, and capital misallocation," IWH-CompNet Discussion Papers 7/2019, Halle Institute for Economic Research (IWH).
    37. Nicholas Kacher & Luke Petach, 2021. "Boon or Burden? Evaluating the Competing Effects of House-Price Shocks on Regional Entrepreneurship," Economic Development Quarterly, , vol. 35(4), pages 287-304, November.
    38. Joachim Keller, 2011. "The BCBS proposal for a countercyclical capital buffer : an application to Belgium," Financial Stability Review, National Bank of Belgium, vol. 9(1), pages 121-132, June.
    39. Manconi, Alberto & Braggion, Fabio & Zhu, Haikun, 2018. "Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China," CEPR Discussion Papers 12668, Centre for Economic Policy Research.
    40. João Braz Pinto & João Sousa Andrade, 2015. "A Monetary Analysis of the Liquidity Trap," GEMF Working Papers 2015-06, GEMF, Faculty of Economics, University of Coimbra.
    41. Danilo Liberati & Valerio Vacca, 2016. "With (more than) a little help from my bank. Loan-to-value ratios and access to mortgages in Italy," Questioni di Economia e Finanza (Occasional Papers) 315, Bank of Italy, Economic Research and International Relations Area.
    42. Benhima, Kenza & Bacchetta, Philippe & Kalantzis, Yannick, 2016. "Money and Capital in a Persistent Liquidity Trap," CEPR Discussion Papers 11369, Centre for Economic Policy Research.
    43. Jappelli, Tullio & Pistaferri, Luigi, 2013. "Fiscal policy and MPC heterogeneity," CFS Working Paper Series 2013/14, Center for Financial Studies (CFS).
    44. Guin, Benjamin, 2017. "Culture and household saving," Working Paper Series 2069, European Central Bank.
    45. Karpestam, Peter & Johansson, Sebastian, 2019. "Interest-only-mortgages and housing market fluctuations in Denmark," Journal of Housing Economics, Elsevier, vol. 46(C).
    46. Eoin Corrigan & Daniel Foley & Kieran McQuinn & Conor O’Toole & Rachel Slaymaker, 2019. "Exploring Affordability in the Irish Housing Market," The Economic and Social Review, Economic and Social Studies, vol. 50(1), pages 119-157.
    47. Oscar Jorda & Moritz HP. Schularick & Alan M. Taylor, 2012. "When Credit Bites Back: Leverage, Business Cycles and Crises," Working Papers Series 20, Institute for New Economic Thinking.
    48. Herwartz, Helmut & Ochsner, Christian & Rohloff, Hannes, 2026. "How do credit supply conditions transmit across the globe?," Journal of International Money and Finance, Elsevier, vol. 161(C).
    49. Katrine Marie Jakobsen & Jakob Egholt Søgaard & Katrine Marie Jakobsen, 2020. "Identifying Behavioral Responses to Tax Reforms: New Insights and a New Approach," CESifo Working Paper Series 8686, CESifo.
    50. Samuel Dodini & Donald R. Haurin & Stephanie Moulton & Maximilian D. Schmeiser, 2015. "How House Price Dynamics and Credit Constraints affect the Equity Extraction of Senior Homeowners," Finance and Economics Discussion Series 2015-70, Board of Governors of the Federal Reserve System (U.S.).
    51. Kim, Young Il & Hwang, Min, 2016. "Household Debt and Consumer Spending in Korea: Evidence from Household Data," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 38(4), pages 23-44.
    52. Niepmann, Friederike & Schmidt-Eisenlohr, Tim, 2017. "No guarantees, no trade: How banks affect export patterns," Journal of International Economics, Elsevier, vol. 108(C), pages 338-350.
    53. Jappelli, Tullio & Christelis, Dimitris & Georgarakos, Dimitris & Van Rooij, Maarten & Pistaferri, Luigi, 2017. "Asymmetric Consumption Effects of Transitory Income Shocks," CEPR Discussion Papers 12025, Centre for Economic Policy Research.
    54. Dimitris Christelis & Michael Ehrmann & Dimitris Georgarakos, 2017. "Exploring Differences in Household Debt Across the United States and Euro Area Countries," CSEF Working Papers 465, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    55. Albuquerque Bruno & Baumann Ursel & Krustev Georgi, 2015. "US household deleveraging following the Great Recession – a model-based estimate of equilibrium debt," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(1), pages 255-307, January.
    56. Nitzan Tzur-Ilan, 2019. "Macroprudential Policy: Implementation, Effects, And Lessons," Israel Economic Review, Bank of Israel, vol. 17(1), pages 39-71.
    57. H. Evren Damar & Reint Gropp & Adi Mordel, 2014. "Banks’ Financial Distress, Lending Supply and Consumption Expenditure," Staff Working Papers 14-7, Bank of Canada.
    58. Goel, Anand M. & Song, Fenghua & Thakor, Anjan V., 2014. "Correlated leverage and its ramifications," Journal of Financial Intermediation, Elsevier, vol. 23(4), pages 471-503.
    59. Amir Sufi, 2012. "Commentary: redistributive monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 385-396.
    60. Atif R. Mian & Amir Sufi, 2015. "Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005," NBER Working Papers 20947, National Bureau of Economic Research, Inc.
    61. Angeles, Luis, 2015. "A note on debt and economic activity," Economics Letters, Elsevier, vol. 136(C), pages 67-69.
    62. Romain Duval & Davide Furceri, 2018. "The Effects of Labor and Product Market Reforms: The Role of Macroeconomic Conditions and Policies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(1), pages 31-69, March.
    63. Mesly, Olivier & Chkir, Imed & Racicot, François-Éric, 2019. "Predatory cells and puzzling financial crises: Are toxic products good for the financial markets?," Economic Modelling, Elsevier, vol. 78(C), pages 11-31.
    64. Jensen, Henrik & Ravn, Søren Hove & Santoro, Emiliano, 2016. "Deepening Contractions and Collateral Constraints," CEPR Discussion Papers 11166, Centre for Economic Policy Research.
    65. Bashir Ahmad Joo & Simtiha Ishaq Mir, 2024. "Evolution of the Household Debt Narrative: A PRISMA-compliant Systematic Literature Review," Paradigm, , vol. 28(1), pages 84-100, June.
    66. Michiel Bijlsma & Remco Mocking, 2017. "The Impact of House Price Shocks on the Savings of Dutch Homeowners and Renters," CPB Discussion Paper 346, CPB Netherlands Bureau for Economic Policy Analysis.
    67. Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2013. "When Credit Bites Back," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(s2), pages 3-28, December.
    68. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    69. Zhang Wei-Bin, 2014. "Land Value and Rent Dynamics in an Integrated Walrasian General Equilibrium and Neoclassical Growth Theory," Scientific Annals of Economics and Business, Sciendo, vol. 61(2), pages 235-258, December.
    70. Unger, Robert, 2018. "Revisiting the finance and growth nexus: A deeper look at sectors and instruments," Discussion Papers 55/2018, Deutsche Bundesbank.
    71. Atif Mian & Amir Sufi, 2016. "Who Bears the Cost of Recessions? The Role of House Prices and Household Debt," NBER Working Papers 22256, National Bureau of Economic Research, Inc.
    72. Wolfram Berger & Friedrich Kissmer, 2013. "Monetary Policy and Asset Prices: When Cleaning Up Hits the Zero Lower Bound," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(3), pages 291-312, September.
    73. Neil Bhutta & Jesse Bricker & Lisa J. Dettling & Jimmy Kelliher & Steven Laufer, 2019. "Stress Testing Household Debt," Finance and Economics Discussion Series 2019-008, Board of Governors of the Federal Reserve System (U.S.).
    74. Cañizares Martínez, Carlos, 2025. "Dating housing booms fueled by credit: A Markov switching approach," Journal of Financial Stability, Elsevier, vol. 78(C).
    75. Nyholm, Juho & Voutilainen, Ville, 2021. "Quantiles of growth: Household debt and growth vulnerabilities in Finland," BoF Economics Review 2/2021, Bank of Finland.
    76. Timothy E. Dore & Traci L. Mach, 2019. "Marketplace Lending and Consumer Credit Outcomes : Evidence from Prosper," Finance and Economics Discussion Series 2019-022, Board of Governors of the Federal Reserve System (U.S.).
    77. Kukk, Merike, 2016. "How did household indebtedness hamper consumption during the recession? Evidence from micro data," Journal of Comparative Economics, Elsevier, vol. 44(3), pages 764-786.
    78. Knut Are Aastveit & Andrea Carriero & Todd E. Clark & Massimiliano Marcellino, 2014. "Have standard VARs remained stable since the crisis?," Working Paper 2014/13, Norges Bank.
    79. Glaeser, Edward L. & Nathanson, Charles G., 2015. "Housing Bubbles," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 701-751, Elsevier.
    80. Tianbao Zhou & Zhixin Liu & Yingying Xu, 2024. "Characterizing Public Debt Cycles: Don't Ignore the Impact of Financial Cycles," Papers 2404.17412, arXiv.org.
    81. Wix, Carlo & Schüwer, Ulrich, 2016. "Monetary Policy and Bank Lending: A Natural Experiment from the US Mortgage Market," VfS Annual Conference 2016 (Augsburg): Demographic Change 145943, Verein für Socialpolitik / German Economic Association.
    82. Wei-Bin Zhang, 2018. "Business Cycles In A General Equilibrium Dynamic Model With Land Value And Rent," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 63(216), pages 7-34, January –.
    83. David Aikman & Jonathan Bridges & Anil Kashyap & Caspar Siergert, 2018. "Would macroprudential regulation have prevented the last crisis?," Bank of England working papers 747, Bank of England.
    84. Kartik B. Athreya & Juan M. Sanchez & Xuan S. Tam & Eric Young, 2014. "Labor market upheaval, default regulations, and consumer debt," Working Papers 2014-2, Federal Reserve Bank of St. Louis.
    85. Yilmazer, Tansel & Babiarz, Patryk & Liu, Fen, 2015. "The impact of diminished housing wealth on health in the United States: Evidence from the Great Recession," Social Science & Medicine, Elsevier, vol. 130(C), pages 234-241.
    86. Samba Mbaye & Ms. Marialuz Moreno Badia & Kyungla Chae, 2018. "Bailing Out the People? When Private Debt Becomes Public," IMF Working Papers 2018/141, International Monetary Fund.
    87. Wei-Bin Zhang, 2015. "The Dynamics of Wealth, Environment and Land Value in a Three-Sector Growth Model," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 13(2), pages 197-228.
    88. ZHANG Wei-Bin, 2015. "Values Of Land And Renewable Resources In A Three-Sector Economic Growth Model," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 10(1), pages 156-186, April.
    89. Amir Sufi, 2012. "Detecting "Bad" Leverage," NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 205-212, National Bureau of Economic Research, Inc.
    90. Yeorim Kim & Mauro Mastrogiacomo, 2024. "Residual-debt insurance and mortgage repayments," Working Papers 823, DNB.
    91. Stephanie Moulton & Donald Haurin & Samuel Dodini & Maximilian D. Schmeiser, 2016. "How Home Equity Extraction and Reverse Mortgages Affect the Credit Outcomes of Senior Households," Working Papers wp351, University of Michigan, Michigan Retirement Research Center.
    92. Alessandra Fogli & Enoch Hill & Fabrizio Perri, 2012. "The Geography of the Great Recession," NBER Working Papers 18447, National Bureau of Economic Research, Inc.
    93. Ziwei Mei & Liugang Sheng & Zhentao Shi, 2023. "Nickell Bias in Panel Local Projection: Financial Crises Are Worse Than You Think," Papers 2302.13455, arXiv.org, revised Jan 2026.
    94. José Rivero & Graciela Sanroman, 2020. "Household Debt: the Role of Income and Business Ownership in a Small Emerging Country," Documentos de Trabajo (working papers) 0820, Department of Economics - dECON.
    95. Dettling, Lisa J. & Hsu, Joanne W., 2018. "Returning to the nest: Debt and parental co-residence among young adults," Labour Economics, Elsevier, vol. 54(C), pages 225-236.
    96. Rishab Guha & Serena Ng, 2019. "A Machine Learning Analysis of Seasonal and Cyclical Sales in Weekly Scanner Data," NBER Chapters, in: Big Data for Twenty-First-Century Economic Statistics, pages 403-436, National Bureau of Economic Research, Inc.
    97. Faria, João Ricardo & Wang, Le & Wu, Zhongmin, 2012. "Debts on debts," The North American Journal of Economics and Finance, Elsevier, vol. 23(2), pages 203-219.
    98. Danling Jiang & Sonya S Lim, 2018. "Trust and Household Debt [Consumer bankruptcy and default: the role of individual social capital]," Review of Finance, European Finance Association, vol. 22(2), pages 783-812.
    99. Alp Simsek & Anton Korinek, 2013. "Liquidity Trap and Excessive Leverage," 2013 Meeting Papers 1369, Society for Economic Dynamics.
    100. Javier Andrés & José E.Boscá & Javier Ferri, 2015. "Household Debt and Fiscal Multipliers," Working Papers 2015-01, FEDEA.
    101. Bechlioulis, Alexandros & Brissimis, Sophocles, 2014. "Consumer default and optimal consumption decisions," MPRA Paper 56864, University Library of Munich, Germany.
    102. Andersen, Henrik Yde, 2018. "Do tax incentives for saving in pension accounts cause debt accumulation? Evidence from Danish register data," European Economic Review, Elsevier, vol. 106(C), pages 35-53.
    103. Dagher, Jihad & Kazimov, Kazim, 2015. "Banks׳ liability structure and mortgage lending during the financial crisis," Journal of Financial Economics, Elsevier, vol. 116(3), pages 565-582.
    104. Jonathan Heathcote & Fabrizio Perri, 2015. "Wealth and Volatility," Staff Report 508, Federal Reserve Bank of Minneapolis.

  11. Roberts, Michael R. & Sufi, Amir, 2009. "Renegotiation of financial contracts: Evidence from private credit agreements," Journal of Financial Economics, Elsevier, vol. 93(2), pages 159-184, August.

    Cited by:

    1. Godlewski, Christophe J., 2015. "The certification value of private debt renegotiation and the design of financial contracts: Empirical evidence from Europe," Journal of Banking & Finance, Elsevier, vol. 53(C), pages 1-17.
    2. Cesar Tamayo, 2017. "Bankruptcy Choice with Endogenous Financial Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 225-242, October.
    3. Tang, Ning & Kamar, Amina & Lin, Chih-Yung & Lu, Chien-Lin, 2023. "Bank safety-oriented culture and lending decisions," Journal of Financial Stability, Elsevier, vol. 66(C).
    4. Yushu Zhu & Jennifer Gippel & Kathy Walsh, 2017. "Informed trading on debt covenant violations: the long and short of it," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(1), pages 289-315, March.
    5. Hongda Zhong, 2021. "A Dynamic Model of Optimal Creditor Dispersion," Journal of Finance, American Finance Association, vol. 76(1), pages 267-316, February.
    6. William Moser & Kaye Newberry & Andy Puckett, 2011. "Bank debt covenants and firms’ responses to FAS 150 liability recognition: evidence from trust preferred stock," Review of Accounting Studies, Springer, vol. 16(2), pages 355-376, June.
    7. Wang, Jing, 2017. "Debt covenant design and creditor control rights: Evidence from the tightest covenant," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 331-352.
    8. Jose M. Berrospide & Ralf R. Meisenzahl, 2022. "The Real Effects of Credit Line Drawdowns," International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 321-397, September.
    9. Ivanov, Ivan T. & Zimmermann, Tom & Heinrich, Nathan W., 2022. "Limits of disclosure regulation in the municipal bond market," CFR Working Papers 22-05, University of Cologne, Centre for Financial Research (CFR).
    10. Lin, Luca X., 2022. "Taking no chances: Lender concentration and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    11. Niinimäki, J.-P., 2024. "The incentive effects of the overlapping project structure in credit markets," Journal of Economics and Business, Elsevier, vol. 128(C).
    12. Antonio Mello & Erwan Quintin, 2015. "A Back-up Quarterback View of Mezzanine Finance," 2015 Meeting Papers 370, Society for Economic Dynamics.
    13. Feng, Felix Zhiyu & Xu, Qiping & Zhu, Caroline H., 2021. "Caught in the crossfire: How the threat of hedge fund activism affects creditors," Journal of Empirical Finance, Elsevier, vol. 64(C), pages 128-143.
    14. Engelberg, Joseph & Gao, Pengjie & Parsons, Christopher A., 2012. "Friends with money," Journal of Financial Economics, Elsevier, vol. 103(1), pages 169-188.
    15. Wajih Abbassi & Sabri Boubaker & Wael Louhichi, 2024. "Why do corporate social responsibility‐oriented companies opt for bond debt? Evidence from crisis periods," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1534-1568, April.
    16. Gregor Matvos, 2013. "Estimating the Benefits of Contractual Completeness," The Review of Financial Studies, Society for Financial Studies, vol. 26(11), pages 2798-2844.
    17. Olivier Darmouni, 2020. "Informational Frictions and the Credit Crunch," Journal of Finance, American Finance Association, vol. 75(4), pages 2055-2094, August.
    18. Po‐Hsin Ho & Chih‐Yung Lin & Tse‐Chun Lin, 2022. "Equity Short Selling and the Bank Loan Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 349-379, March.
    19. Weiwei Wang & Kenneth Zheng, 2020. "Real earnings manipulation and future performance: A revisit using quarterly data of firms with debt covenants," Review of Financial Economics, John Wiley & Sons, vol. 38(1), pages 76-96, January.
    20. Emanuele Bacchiega & Olivier Bonroy & Emmanuel Petrakis, 2018. "Contract contingency in vertically related markets," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 27(4), pages 772-791, October.
    21. Li, Tongxia & Lu, Chun & Chen, Zhihua, 2023. "The unintended consequence of collateral-based financing: Evidence from corporate cost behavior," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(1).
    22. Celil, Hursit S. & Julio, Brandon & Selvam, Srinivasan, 2023. "Investment sensitivity to lender default shocks," Journal of Corporate Finance, Elsevier, vol. 79(C).
    23. Godlewski, Christophe J., 2020. "How legal and institutional environments shape the private debt renegotiation process?," Journal of Corporate Finance, Elsevier, vol. 62(C).
    24. Sahoo, Jyoti Ranjan & Mishra, Ajay Kumar, 2025. "Debt maturity, creditor rights, and capital allocation efficiency: Evidence from quasi-natural experiments in India," Journal of Financial Stability, Elsevier, vol. 81(C).
    25. Kathleen Weiss Hanley & Gerard Hoberg, 2019. "Dynamic Interpretation of Emerging Risks in the Financial Sector," The Review of Financial Studies, Society for Financial Studies, vol. 32(12), pages 4543-4603.
    26. Nikolaev, Valeri V., 2018. "Scope for renegotiation in private debt contracts," Journal of Accounting and Economics, Elsevier, vol. 65(2), pages 270-301.
    27. Choi, Daewoung & Lee, Jinsook & Yi, Ha-Chin, 2023. "Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R," Finance Research Letters, Elsevier, vol. 58(PB).
    28. Joseph, Kerron & Nguyen, Ca & Wald, John K., 2025. "Renegotiation of international loans, capital regulation, and monetary policy," Journal of Banking & Finance, Elsevier, vol. 176(C).
    29. Fields, L. Paige & Gupta, Manu & Wilkins, Mike & Zhang, Shage, 2018. "Refinancing pressure and earnings management: Evidence from changes in short-term debt and discretionary accruals," Finance Research Letters, Elsevier, vol. 25(C), pages 62-68.
    30. Saunders, Anthony & Song, Keke, 2018. "Bank monitoring and CEO risk-taking incentives," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 225-240.
    31. Christophe J. Godlewski, 2019. "Debt Renegotiation and the Design of Financial Contracts," Journal of Financial Services Research, Springer;Western Finance Association, vol. 55(2), pages 191-215, June.
    32. Sofía Bauducco & Alexandre Janiak, 2015. "On the welfare cost of bank concentration," Documentos de Trabajo 321, Centro de Economía Aplicada, Universidad de Chile.
    33. Cortina Lorente,Juan Jose & Didier Brandao,Tatiana & Schmukler,Sergio L., 2020. "Global Corporate Debt during Crises : Implications of Switching Borrowing across Markets," Policy Research Working Paper Series 9142, The World Bank.
    34. Daisuke MIYAKAWA & Kazuhiko OHASHI, 2016. "Multiple Lenders, Temporary Debt Restructuring, and Firm Performance: Evidence from contract-level data," Discussion papers 16030, Research Institute of Economy, Trade and Industry (RIETI).
    35. Michael R. Roberts, 2014. "The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting," NBER Working Papers 20484, National Bureau of Economic Research, Inc.
    36. Bui, Dien Giau & Chen, Yan-Shing & Hasan, Iftekhar & Lin, Chih-Yung, 2018. "Can lenders discern managerial ability from luck? Evidence from bank loan contracts," Journal of Banking & Finance, Elsevier, vol. 87(C), pages 187-201.
    37. Rodnyansky, Alexander & Darmouni, Olivier, 2020. "The Bond Lending Channel of Monetary Policy," CEPR Discussion Papers 14659, Centre for Economic Policy Research.
    38. Achleitner, Ann-Kristin & Braun, Reiner & Tappeiner, Florian, 2009. "Structure and determinants of financial covenants in leveraged buyouts - evidence from an economy with strong creditor rights," CEFS Working Paper Series 2009-15, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).
    39. Michael Schwert, 2020. "Does Borrowing from Banks Cost More than Borrowing from the Market?," Journal of Finance, American Finance Association, vol. 75(2), pages 905-947, April.
    40. Lockhart, G. Brandon, 2014. "Credit lines and leverage adjustments," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 274-288.
    41. Xian Gu & Iftekhar Hasan & Haitian Lu, 2023. "Institutions and Corporate Reputation: Evidence from Public Debt Markets," Journal of Business Ethics, Springer, vol. 183(1), pages 165-189, February.
    42. Godlewski, Christophe J. & Sanditov, Bulat, 2024. "Bank loan renegotiation and financial institutions' network," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    43. Shai Levi & Benjamin Segal & Dan Segal, 2021. "Does fiduciary duty to creditors reduce debt covenant violation avoidance behavior?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(5-6), pages 929-953, May.
    44. He, Qing & Huang, Jiyuan & Li, Dongxu & Lu, Liping, 2016. "Banks as corporate monitors: Evidence from CEO turnovers in China," BOFIT Discussion Papers 19/2016, Bank of Finland Institute for Emerging Economies (BOFIT).
    45. Cortés, Janko Hernández & Tribó, Josep A & Adamuz, María de las Mercedes, 2020. "Are syndicated loans truly less expensive?," Journal of Banking & Finance, Elsevier, vol. 120(C).
    46. Shu Feng & Chang Liu & Xiaoling Pu, 2022. "Connected Lending in Bank Lines of Credit," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(2), pages 187-216, April.
    47. Martin, Xiumin & Roychowdhury, Sugata, 2015. "Do financial market developments influence accounting practices? Credit default swaps and borrowers׳ reporting conservatism," Journal of Accounting and Economics, Elsevier, vol. 59(1), pages 80-104.
    48. Servaes, Henri & Amiraslani, Hami & Lins, Karl & Tamayo, Ane, 2017. "A Matter of Trust? The Bond Market Benefits of Corporate Social Capital during the Financial Crisis," CEPR Discussion Papers 12321, Centre for Economic Policy Research.
    49. Bannier, Christina E. & Wiemann, Markus, 2014. "Performance-sensitive debt: The intertwined effects of performance measurement and pricing grid asymmetry," CFS Working Paper Series 476, Center for Financial Studies (CFS).
    50. Ivashina, Victoria & Scharfstein, David, 2010. "Bank lending during the financial crisis of 2008," Journal of Financial Economics, Elsevier, vol. 97(3), pages 319-338, September.
    51. Charalambides, Marios & Koussis, Nicos, 2018. "A stochastic model with interacting managerial operating options and debt rescheduling," European Journal of Operational Research, Elsevier, vol. 267(1), pages 236-249.
    52. Shan, Chenyu & Tang, Dragon Yongjun & Winton, Andrew, 2019. "Do banks still monitor when there is a market for credit protection?," Journal of Accounting and Economics, Elsevier, vol. 68(2).
    53. Fabio Antoniou & Manthos D. Delis & Steven Ongena & Chris Tsoumas, 2026. "Pollution Permits and Financing Costs," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(3), pages 637-679, April.
    54. Anjana Susarla, 2012. "Contractual Flexibility, Rent Seeking, and Renegotiation Design: An Empirical Analysis of Information Technology Outsourcing Contracts," Management Science, INFORMS, vol. 58(7), pages 1388-1407, July.
    55. Mitchell Berlin, 2012. "Banks and markets: substitutes, complements, or both?," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 1-10.
    56. Hegde, Shantaram P. & Mishra, Dev R., 2017. "Strategic risk-taking and value creation: Evidence from the market for corporate control," International Review of Economics & Finance, Elsevier, vol. 48(C), pages 212-234.
    57. Kang, Ya & Li, Oliver Zhen & Lin, Yupeng, 2021. "Tax incidence in loan pricing," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    58. Gu, Qiankun & Kong, Dongmin & Si, Fangbo & Xiong, Xi & Yu, Xiaoxu, 2024. "Credit default swaps and shareholder monitoring," International Review of Financial Analysis, Elsevier, vol. 93(C).
    59. Wonik Choi & Jongha Lim, 2022. "Did they live happily ever after? The fate of restructured firms after hedge fund activism," The Financial Review, Eastern Finance Association, vol. 57(4), pages 925-947, November.
    60. Yan Hu & Connie Mao, 2017. "Accounting quality, bank monitoring, and performance pricing loans," Review of Quantitative Finance and Accounting, Springer, vol. 49(3), pages 569-597, October.
    61. Bandyopadhyay, Arka Prava & Maliar, Lilia, 2026. "Reinforcement learning for household finance: Designing policy via responsiveness," Journal of Economic Dynamics and Control, Elsevier, vol. 182(C).
    62. Espenlaub, Susanne & Khurshed, Arif & Neufeld, Anna, 2025. "Loan amendments and capital structure," International Review of Financial Analysis, Elsevier, vol. 102(C).
    63. Stomper, Alexander & Mueller, Holger & Giroud, Xavier & Westerkamp, Arne, 2010. "Snow and Leverage," CEPR Discussion Papers 8148, Centre for Economic Policy Research.
    64. Carrizosa, Richard & Ryan, Stephen G., 2017. "Borrower private information covenants and loan contract monitoring," Journal of Accounting and Economics, Elsevier, vol. 64(2), pages 313-339.
    65. Joao A. C. Santos & S. Vish Viswanathan, 2020. "Bank Syndicates and Liquidity Provision," NBER Working Papers 27701, National Bureau of Economic Research, Inc.
    66. Godlewski, Christophe J., 2015. "The dynamics of bank debt renegotiation in Europe: A survival analysis approach," Economic Modelling, Elsevier, vol. 49(C), pages 19-31.
    67. Duffee, Gregory R. & Hördahl, Peter, 2025. "Debt specialization and diversification: International evidence," Journal of International Money and Finance, Elsevier, vol. 157(C).
    68. Amiraslani, Hami & Donovan, John & Phillips, Matthew A. & Wittenberg-Moerman, Regina, 2023. "Contracting in the Dark: The rise of public-side lenders in the syndicated loan market," Journal of Accounting and Economics, Elsevier, vol. 76(1).
    69. Ming Li & Zilong Song & Xu Sun & Yumiao Yu, 2025. "Can digital transformation decrease the debt concentration?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 65(3), pages 2213-2243, September.
    70. Suarez, Javier & Sánchez Serrano, Antonio, 2018. "Approaching non-performing loans from a macroprudential angle," Report of the Advisory Scientific Committee 7, European Systemic Risk Board.
    71. Min Jung Kang & Y. Han (Andy) Kim & Qunfeng Liao, 2020. "Do bankers on the board reduce crash risk?," European Financial Management, European Financial Management Association, vol. 26(3), pages 684-723, June.
    72. Rogantini Picco, Anna & Amberg, Niklas & Jacobson, Tor & Quadrini, Vincenzo, 2026. "Dynamic credit constraints: theory and evidence from credit lines," Working Paper Series 3216, European Central Bank.
    73. Ivanov, Ivan T. & Pettit, Luke & Whited, Toni, 2021. "Taxes Depress Corporate Borrowing: Evidence from Private Firms," IHS Working Paper Series 32, Institute for Advanced Studies.
    74. Massoud, Nadia & Nandy, Debarshi & Saunders, Anthony & Song, Keke, 2011. "Do hedge funds trade on private information? Evidence from syndicated lending and short-selling," Journal of Financial Economics, Elsevier, vol. 99(3), pages 477-499, March.
    75. Franck Moraux & Florina Silaghi, 2014. "Inside debt renegotiation: Optimal debt reduction, timing, and the number of rounds," Post-Print halshs-01024229, HAL.
    76. Hao, Jie & Pham, Viet & Sánchez, Daniela & Sánchez, Juan Manuel, 2021. "Perceptions of corporate corruption culture and debt contracting," Journal of Corporate Finance, Elsevier, vol. 71(C).
    77. Caroline Flammer & Ioannis Ioannou, 2021. "Strategic management during the financial crisis: How firms adjust their strategic investments in response to credit market disruptions," Strategic Management Journal, Wiley Blackwell, vol. 42(7), pages 1275-1298, July.
    78. Nguyen, Hien T. & Phan, Hieu V. & Vo, Hong, 2023. "Agency problems and corporate social responsibility: Evidence from shareholder-creditor mergers," International Review of Financial Analysis, Elsevier, vol. 90(C).
    79. Yili Lian, 2018. "Bank competition and the cost of bank loans," Review of Quantitative Finance and Accounting, Springer, vol. 51(1), pages 253-282, July.
    80. Jung Koo Kang & Christopher D. Williams & Regina Wittenberg-Moerman, 2021. "CDS trading and nonrelationship lending dynamics," Review of Accounting Studies, Springer, vol. 26(1), pages 258-292, March.
    81. Allaya, Manel & Derouiche, Imen & Muessig, Anke, 2022. "Voluntary disclosure, ownership structure, and corporate debt maturity: A study of French listed firms," International Review of Financial Analysis, Elsevier, vol. 81(C).
    82. Brad A. Badertscher & Dan Givoly & Sharon P. Katz & Hanna Lee, 2019. "Private Ownership and the Cost of Public Debt: Evidence from the Bond Market," Management Science, INFORMS, vol. 65(1), pages 301-326, January.
    83. João Miguel Reis & José Carlos Dias, 2026. "Dynamic Debt With Intensity‐Based Models," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 46(2), pages 334-352, February.
    84. He, Wen & Hu, Maggie (Rong), 2016. "Religion and bank loan terms," Journal of Banking & Finance, Elsevier, vol. 64(C), pages 205-215.
    85. Campello, Murillo & Matta, Rafael, 2020. "Investment risk, CDS insurance, and firm financing," European Economic Review, Elsevier, vol. 125(C).
    86. Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    87. Iftekhar Hasan & Hui Li & Haizhi Wang & Yun Zhu, 2021. "Do Affiliated Bankers on Board Enhance Corporate Social Responsibility? US Evidence," Sustainability, MDPI, vol. 13(6), pages 1-27, March.
    88. Erik P. Gilje & Elena Loutskina & Daniel Murphy, 2020. "Drilling and Debt," Journal of Finance, American Finance Association, vol. 75(3), pages 1287-1325, June.
    89. Demiroglu, Cem & James, Christopher, 2011. "The use of bank lines of credit in corporate liquidity management: A review of empirical evidence," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 775-782, April.
    90. Tobias Berg & Anthony Saunders & Sascha Steffen, 2016. "The Total Cost of Corporate Borrowing in the Loan Market: Don't Ignore the Fees," Journal of Finance, American Finance Association, vol. 71(3), pages 1357-1392, June.
    91. Stephen L. Buschbom & James B. Kau & Donald C. Keenan & Constantine Lyubimov, 2021. "Delinquencies, Default and Borrowers' Strategic Behavior toward the Modification of Commercial Mortgages," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(3), pages 936-967, September.
    92. William Gornall & Ilya A. Strebulaev, 2013. "Financing as a Supply Chain: The Capital Structure of Banks and Borrowers," NBER Working Papers 19633, National Bureau of Economic Research, Inc.
    93. Macias, Antonio J. & Moeller, Thomas, 2016. "Target signaling with material adverse change clauses in merger agreements," Journal of Empirical Finance, Elsevier, vol. 39(PA), pages 69-92.
    94. Christophe J. Godlewski, 2025. "Language and private debt renegotiation," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 134-171, January.
    95. Lim, Jesslyn & Do, Viet & Vu, Tram, 2020. "Co-opted directors, covenant intensity, and covenant violations," Journal of Corporate Finance, Elsevier, vol. 64(C).
    96. Dean Hanlon, 2019. "Mandatory accounting change and debt covenant violation: Additional evidence from SFAS 150," Australian Journal of Management, Australian School of Business, vol. 44(3), pages 355-387, August.
    97. Heski Bar-Isaac & Vicente Cuñat, 2012. "Long-term Debt and Hidden Borrowing," Working Papers 12-05, New York University, Leonard N. Stern School of Business, Department of Economics.
    98. Lu, Chien-Lin & Lin, Chih-Yung & Lin, Tse-Chun & Miao, Bin, 2024. "Financial statement disaggregation and bank loan pricing," Journal of Empirical Finance, Elsevier, vol. 79(C).
    99. Zhang, Zhipeng, 2009. "Recovery Rates and Macroeconomic Conditions: The Role of Loan Covenants," MPRA Paper 17521, University Library of Munich, Germany.
    100. Sung C. Bae & Kiyoung Chang & Ha-Chin Yi, 2018. "Corporate social responsibility, credit rating, and private debt contracting: new evidence from syndicated loan market," Review of Quantitative Finance and Accounting, Springer, vol. 50(1), pages 261-299, January.
    101. Ivan T. & Tom Zimmermann, 2021. "The "Privatization" of Municipal Debt," ECONtribute Discussion Papers Series 062, University of Bonn and University of Cologne, Germany.
    102. Gad, Mahmoud & Nikolaev, Valeri & Tahoun, Ahmed & van Lent, Laurence, 2024. "Firm-level political risk and credit markets," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    103. James R. Brown & Matthew T. Gustafson & Ivan T. Ivanov, 2021. "Weathering Cash Flow Shocks," Journal of Finance, American Finance Association, vol. 76(4), pages 1731-1772, August.
    104. Gornall, Will & Strebulaev, Ilya A., 2018. "Financing as a supply chain: The capital structure of banks and borrowers," Journal of Financial Economics, Elsevier, vol. 129(3), pages 510-530.
    105. Allen N. Berger & Tanakorn Makaew & Raluca Roman, 2015. "Did bank borrowers benefit from the TARP program : the effects of TARP on loan contract terms," Research Working Paper RWP 15-11, Federal Reserve Bank of Kansas City.
    106. Nemit Shroff, 2017. "Corporate investment and changes in GAAP," Review of Accounting Studies, Springer, vol. 22(1), pages 1-63, March.
    107. Nuri Ersahin & Rustom M. Irani & Hanh Le, 2015. "Creditor Control Rights and Resource Allocation within Firms," Working Papers 15-39, Center for Economic Studies, U.S. Census Bureau.
    108. Thomas Ruchti & Andrew Bird & Stephen A. Karolyi & Michael Hertzel, 2024. "The Value of Lending Relationships," Working Papers 24-02, Office of Financial Research, US Department of the Treasury.
    109. Jiang, Shuyi & Li, Jay Y., 2022. "He who lends knows," Journal of Banking & Finance, Elsevier, vol. 138(C).
    110. Matthias Kiefer & Edward Jones & Andrew Adams, 2016. "Principals, Agents and Incomplete Contracts: Are Surrender of Control and Renegotiation the Solution?," CFI Discussion Papers 1603, Centre for Finance and Investment, Heriot Watt University.
    111. Christopher S. Armstrong & John D. Kepler & Chongho Kim & David Tsui, 2025. "Creditor control rights and executive bonus plans," Review of Accounting Studies, Springer, vol. 30(3), pages 2724-2767, September.
    112. Laura Alfaro & Mariya Brussevich & Camelia Minoiu & Andrea F. Presbitero, 2025. "Bank Financing of Global Supply Chains," FRB Atlanta Working Paper 2025-4, Federal Reserve Bank of Atlanta.
    113. Vincent Glode & Christian Opp, 2020. "Renegotiation in Debt Chains," NBER Working Papers 27883, National Bureau of Economic Research, Inc.
    114. de Jong, Abe & Kooijmans, Tim & Veld, Chris, 2022. "Legal risk and information spillover through private lender reports," Journal of Financial Markets, Elsevier, vol. 60(C).
    115. Michèle Breton & Tiguéné Nabassaga, 2025. "Restrictive Clauses in Loan Contracts: A Sequential Stackelberg Game Interpretation," Dynamic Games and Applications, Springer, vol. 15(1), pages 28-47, March.
    116. Darmouni, Olivier & Papoutsi, Melina, 2022. "Non-bank lending to mid-size firms in Europe: evidence from corporate securities," Working Paper Series 2663, European Central Bank.
    117. Frantz, Pascal & Instefjord, Norvald, 2019. "Debt overhang and non-distressed debt restructuring," LSE Research Online Documents on Economics 90212, London School of Economics and Political Science, LSE Library.
    118. Mansi, Sattar A. & Qi, Yaxuan & Wald, John K., 2021. "Bond covenants, bankruptcy risk, and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 66(C).
    119. Pelizzon, Loriana & Riedel, Max & Simon, Zorka & Subrahmanyam, Marti G., 2020. "Collateral eligibility of corporate debt in the Eurosystem," SAFE Working Paper Series 275, Leibniz Institute for Financial Research SAFE.
    120. Jae B. Kim & Pervin Shroff & Dushyantkumar Vyas & Regina Wittenberg‐Moerman, 2018. "Credit Default Swaps and Managers’ Voluntary Disclosure," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(3), pages 953-988, June.
    121. Yuliyan Mitkov, 2020. "A Theory of Debt Maturity and Innovation," ECONtribute Discussion Papers Series 050, University of Bonn and University of Cologne, Germany.
    122. Bose, Udichibarna & Filomeni, Stefano & Mallick, Sushanta, 2021. "Does bankruptcy law improve the fate of distressed firms? The role of credit channels," Journal of Corporate Finance, Elsevier, vol. 68(C).
    123. Beyhaghi, Mehdi & Nguyen, Ca & Wald, John K., 2019. "Institutional investors and loan dynamics: Evidence from loan renegotiations," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 482-505.
    124. Andrea K. Down & Christopher D. Williams & Regina Wittenberg-Moerman, 2024. "Strategic syndication: is bad news shared in loan syndicates?," Review of Accounting Studies, Springer, vol. 29(1), pages 194-236, March.
    125. Hans B. Christensen & Valeri V. Nikolaev, 2017. "Contracting on GAAP Changes: Large Sample Evidence," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(5), pages 1021-1050, December.
    126. Chu, Yongqiang, 2016. "Debt renegotiation and debt overhang: Evidence from lender mergers," MPRA Paper 72403, University Library of Munich, Germany.
    127. Miroslav Gabrovski & Ioannis Kospentaris & Lucie Lebeau, 2024. "The Macroeconomics of Labor, Credit and Financial Market Imperfections," Working Papers 2409, Federal Reserve Bank of Dallas.
    128. Hasan, Md Mahmudul, 2025. "Private lenders and borrowers' internal control-related private information," Advances in accounting, Elsevier, vol. 68(C).
    129. Björn Imbierowicz & Daniel Streitz, 2024. "Financial debt contracting and managerial agency problems," Financial Management, Financial Management Association International, vol. 53(1), pages 99-118, March.
    130. Cetorelli, Nicola & Peretto, Pietro F., 2012. "Credit quantity and credit quality: Bank competition and capital accumulation," Journal of Economic Theory, Elsevier, vol. 147(3), pages 967-998.
    131. Hussain, Inayat & Durand, Robert B. & Harris, Mark N., 2016. "Default resolution and access to fresh credit in an emerging market," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 256-274.
    132. Roberts, Michael R., 2015. "The role of dynamic renegotiation and asymmetric information in financial contracting," Journal of Financial Economics, Elsevier, vol. 116(1), pages 61-81.
    133. Wang, Ling, 2025. "Demographic structure and SME credit availability: Rethinking SME finance amid unprecedented demographic transformations," Research in International Business and Finance, Elsevier, vol. 76(C).
    134. May, Anthony D., 2014. "Corporate liquidity and the contingent nature of bank credit lines: Evidence on the costs and consequences of bank default," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 410-429.
    135. Wang, Congcong & Wang, Chong & Long, Huaigang & Zaremba, Adam & Zhou, Wenyu, 2024. "Green bond credit spreads and bank loans in China," International Review of Financial Analysis, Elsevier, vol. 94(C).
    136. Daniels, Kenneth N. & Hurtado, Fernando Díaz & Ramírez, Gabriel G., 2013. "An empirical investigation of corporate bond clawbacks (IPOCs): Debt renegotiation versus exercising the clawback option," Journal of Corporate Finance, Elsevier, vol. 20(C), pages 14-21.
    137. Vitaly M. Bord & João A. C. Santos, 2012. "The rise of the originate-to-distribute model and the role of banks in financial intermediation," Economic Policy Review, Federal Reserve Bank of New York, issue Jul, pages 21-34.
    138. Katarzyna Platt, 2020. "Corporate Bonds And Product Market Competition," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(3), pages 615-647, August.
    139. Kang, Di & Zhuang, Zhuang, 2019. "Should companies care who their lender is? Evidence from loan covenants," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    140. Marc Arnold & Ramona Westermann, 2023. "Debt Renegotiations Outside Distress," Review of Finance, European Finance Association, vol. 27(4), pages 1183-1228.
    141. Garcia-Appendini, Emilia, 2018. "Financial distress and competitors' investment," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 182-209.
    142. Freudenberg, Felix & Imbierowicz, Björn & Saunders, Anthony & Steffen, Sascha, 2017. "Covenant violations and dynamic loan contracting," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 540-565.
    143. Theodora Bermpei & Antonios Nikolaos Kalyvas & Leone Leonida, 2021. "Local Public Corruption and Bank Lending Activity in the United States," Journal of Business Ethics, Springer, vol. 171(1), pages 73-98, June.
    144. Robert W. Rich & Joseph Tracy, 2011. "Early contract renegotiation: An analysis of U.S. labor contracts from 1970 to 1995," Staff Reports 521, Federal Reserve Bank of New York.
    145. Myklebust, Tor Åge, 2012. "Performance Sensitive Debt - Investment and Financing Incentives," Discussion Papers 2012/7, Norwegian School of Economics, Department of Business and Management Science.
    146. Rustom M. Irani & Ralf R. Meisenzahl, 2015. "Loan Sales and Bank Liquidity Risk Management: Evidence from a U.S. Credit Register," Finance and Economics Discussion Series 2015-1, Board of Governors of the Federal Reserve System (U.S.).
    147. Bienz, Carsten & Faure-Grimaud, Antoine & Fluck, Zsuzsanna, 2011. "Defeasance of control rights," LSE Research Online Documents on Economics 119069, London School of Economics and Political Science, LSE Library.
    148. Ilan Guttman & Iván Marinovic, 2018. "Debt contracts in the presence of performance manipulation," Review of Accounting Studies, Springer, vol. 23(3), pages 1005-1041, September.
    149. Campello, Murillo & Gao, Janet, 2017. "Customer concentration and loan contract terms," Journal of Financial Economics, Elsevier, vol. 123(1), pages 108-136.
    150. Viet Anh Dang & Edward Lee & Yangke Liu & Cheng Zeng, 2018. "Corporate debt maturity and stock price crash risk," European Financial Management, European Financial Management Association, vol. 24(3), pages 451-484, June.
    151. Sharjil M. Haque & Anya V. Kleymenova, 2023. "Private Equity and Debt Contract Enforcement: Evidence from Covenant Violations," Finance and Economics Discussion Series 2023-018, Board of Governors of the Federal Reserve System (U.S.).
    152. Simon H. Kwan & Willard T. Carleton, 2010. "Financial Contracting and the Choice between Private Placement and Publicly Offered Bonds," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 907-929, August.
    153. Christophe J. GODLEWSKI, 2017. "Initial conditions and the private debt renegotiation process," Working Papers of LaRGE Research Center 2017-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    154. Lei Mao & Yuri Tserlukevich, 2015. "Repurchasing Debt," Management Science, INFORMS, vol. 61(7), pages 1648-1662, July.
    155. Isin, Adnan Anil, 2018. "Tax avoidance and cost of debt: The case for loan-specific risk mitigation and public debt financing," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 344-378.
    156. Zhong, Hongda, 2021. "A dynamic model of optimal creditor dispersion," LSE Research Online Documents on Economics 106646, London School of Economics and Political Science, LSE Library.
    157. Meder, Anthony A. & Schwartz, Steven T. & Young, Richard, 2019. "Cross-acceleration and the relationship between board independence and bond yield spreads," Advances in accounting, Elsevier, vol. 44(C), pages 58-67.
    158. Inmaculada Aguiar‐Díaz & Ewelina Monica Mruk & María Victoria Ruiz‐Mallorquí, 2024. "Judicial efficiency, debt structure, and cost of debt," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(6), pages 3541-3563, September.
    159. Teodora Paligorova & João Santos, 2016. "Non-Bank Investors and Loan Renegotiations," Staff Working Papers 16-60, Bank of Canada.
    160. Sven Klingler & Olav Syrstad, 2023. "Does SOFR-linked debt cost borrowers more than LIBOR-linked debt?," Working Paper 2023/7, Norges Bank.
    161. Chiu, Wan-Chien & King, Tao-Hsien Dolly & Wang, Chih-Wei, 2021. "Debt maturity dispersion and the cost of bank loans," Journal of Corporate Finance, Elsevier, vol. 70(C).
    162. Daniel Bens & Sterling Huang & Liang Tan & Wan Wongsunwai, 2020. "Contracting and Reporting Conservatism around a Change in Fiduciary Duties," Contemporary Accounting Research, John Wiley & Sons, vol. 37(4), pages 2472-2500, December.
    163. Gabriel Chodorow‐Reich & Antonio Falato, 2022. "The Loan Covenant Channel: How Bank Health Transmits to the Real Economy," Journal of Finance, American Finance Association, vol. 77(1), pages 85-128, February.
    164. Reiter, Michael & Zessner-Spitzenberg, Leopold, 2023. "Long-term bank lending and the transfer of aggregate risk," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    165. Annita Florou & Urska Kosi, 2015. "Does mandatory IFRS adoption facilitate debt financing?," Review of Accounting Studies, Springer, vol. 20(4), pages 1407-1456, December.
    166. Berg, Tobias & Saunders, Anthony & Steffen, Sascha, 2015. "The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 489, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    167. Michael Minnis & Andrew Sutherland, 2017. "Financial Statements as Monitoring Mechanisms: Evidence from Small Commercial Loans," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(1), pages 197-233, March.
    168. Theophilus Lartey & Albert Danso, 2022. "CEO overconfidence and debt covenant violations," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(1), pages 162-199, March.
    169. Genesove, David & Hoffmann, Eran & Elster, Yael, 2020. "Agreements Must Be Kept? Residential Leases during Covid-19," CEPR Discussion Papers 15102, Centre for Economic Policy Research.
    170. Bu, Luofan & Ng, Jeffrey & Song, Byron Y. & Yan, Mark Yuzhi, 2026. "Freedom is not free: Manager disloyalty and bank debt reliance," Journal of Corporate Finance, Elsevier, vol. 96(C).
    171. Hertzel, Michael G. & Officer, Micah S., 2012. "Industry contagion in loan spreads," Journal of Financial Economics, Elsevier, vol. 103(3), pages 493-506.
    172. Campello, Murillo & Connolly, Robert A. & Kankanhalli, Gaurav & Steiner, Eva, 2022. "Do real estate values boost corporate borrowing? Evidence from contract-level data," Journal of Financial Economics, Elsevier, vol. 144(2), pages 611-644.
    173. Fiordelisi, Franco & Soana, Maria-Gaia & Schwizer, Paola, 2013. "The determinants of reputational risk in the banking sector," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1359-1371.
    174. Nagar, Venky & Schoenfeld, Jordan, 2021. "Shareholder monitoring and discretionary disclosure," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    175. Yang, Daniel G., 2025. "Foreign bank branch participation and U.S. syndicated loan contract design," Journal of Accounting and Economics, Elsevier, vol. 79(1).
    176. Eunkyung Lee, 2023. "The Transmission of Monetary Policy to Corporate Investment: The Role of Loan Renegotiation," Economics Discussion Paper Series 2310, Economics, The University of Manchester.
    177. Tedeschi, Gabriele & Vidal-Tomás, David & Delli-Gatti, Domenico & Gallegati, Mauro, 2021. "The macroeconomic effects of default and debt restructuring: An agent based exploration," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 1146-1163.
    178. Zhang, Wei, 2025. "Bank liquidity supply and corporate investment during the 2008–2009 financial crisis," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    179. Gavin Cassar, 2011. "Discussion of The Value of Financial Statement Verification in Debt Financing: Evidence from Private U.S. Firms," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 49(2), pages 507-528, May.
    180. Ferrando, Annalisa & Mulier, Klaas, 2022. "The real effects of credit constraints: Evidence from discouraged borrowers," Journal of Corporate Finance, Elsevier, vol. 73(C).
    181. Ivan T. Ivanov & Ben Ranish & James Wang, 2023. "Banks' Strategic Responses to Supervisory Coverage: Evidence from a Natural Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 503-530, March.
    182. Chia-Ying Chan & Iftekhar Hasan & Chih-Yung Lin, 2021. "Agency cost of CEO perquisites in bank loan contracts," Review of Quantitative Finance and Accounting, Springer, vol. 56(4), pages 1221-1258, May.
    183. Zhang, Zhipeng, 2009. "Who Pulls the Plug? Theory and Evidence on Corporate Bankruptcy Decisions," MPRA Paper 17676, University Library of Munich, Germany, revised 05 Oct 2009.
    184. Mosk, T.C., 2014. "Essays on banking," Other publications TiSEM d424ec24-1bfd-4be0-b19a-3, Tilburg University, School of Economics and Management.
    185. Hwang Hee Lee & Frederick Dongchuhl Oh, 2022. "The role of credit default swaps in determining corporate payout policy," Financial Management, Financial Management Association International, vol. 51(2), pages 635-661, June.
    186. Baylis, Richard M. & Burnap, Peter & Clatworthy, Mark A. & Gad, Mahmoud A. & Pong, Christopher K.M., 2017. "Private lenders’ demand for audit," Journal of Accounting and Economics, Elsevier, vol. 64(1), pages 78-97.
    187. Viral V. Acharya & Heitor Almeida & Filippo Ippolito & Ander Perez‐Orive, 2021. "Credit Lines and the Liquidity Insurance Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 901-938, August.
    188. Imbierowicz, Björn & Wahrenburg, Mark, 2013. "Wealth transfer effects between stockholders and bondholders," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(1), pages 23-43.
    189. Frederico A. Mourad & Rafael F. Schiozer & Toni R. E. dos Santos, 2020. "Bank Loan Forbearance: evidence from a million restructured loans," Working Papers Series 541, Central Bank of Brazil, Research Department.
    190. Christophe J. GODLEWSKI, 2014. "What drives the dynamics of bank debt renegotiation in Europe? A survival analysis approach," Working Papers of LaRGE Research Center 2014-01, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    191. Hu, Shiyang & Li, Xiao & Tian, Gary Gang & Zhao, Jianyu, 2024. "From debt breaches to employee safety: The hidden power of banking interventions," The British Accounting Review, Elsevier, vol. 56(6).
    192. Gus De Franco & Alexander Edwards & Scott Liao, 2021. "Product Market Peers in Lending," Management Science, INFORMS, vol. 67(3), pages 1876-1894, March.
    193. Gerardo Pérez‐Cavazos, 2019. "Consequences of Debt Forgiveness: Strategic Default Contagion and Lender Learning," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 57(3), pages 797-841, June.
    194. Becker, Bo & Ivashina, Victoria, 2016. "Covenant-Light Contracts And Creditor Coordination," Working Paper Series 325, Sveriges Riksbank (Central Bank of Sweden).
    195. Albanez, Tatiana & Schiozer, Rafael, 2022. "The signaling role of covenants and the speed of capital structure adjustment under poor creditor rights: Evidence from domestically and cross-listed firms in Brazil," Journal of Multinational Financial Management, Elsevier, vol. 63(C).
    196. Liu, Yini & Nguyen, Ca, 2023. "The role of financial covenants in pricing private investments in public equity," Journal of Corporate Finance, Elsevier, vol. 82(C).
    197. Kruttli, Mathias S. & Monin, Phillip J. & Watugala, Sumudu W., 2022. "The life of the counterparty: Shock propagation in hedge fund-prime broker credit networks," Journal of Financial Economics, Elsevier, vol. 146(3), pages 965-988.
    198. Duran, Miguel A., 2017. "Pricing and usage: An empirical analysis of lines of credit," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 50(C), pages 219-234.
    199. Choi, Jaewon & Hackbarth, Dirk & Zechner, Josef, 2013. "Granularity of corporate debt," CFS Working Paper Series 2013/26, Center for Financial Studies (CFS).
    200. Hans B. Christensen & Valeri V. Nikolaev, 2012. "Capital Versus Performance Covenants in Debt Contracts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 50(1), pages 75-116, March.
    201. C. Fee & Joshua Pierce & Hoontaek Seo & Shan Yan, 2014. "Bank Debt, Flexibility, and the Use of Proceeds from Asset Sales," Journal of Financial Services Research, Springer;Western Finance Association, vol. 46(1), pages 77-97, August.
    202. Degl'Innocenti, Marta & Fiordelisi, Franco & Song, Wei & Zhou, Si, 2023. "Shareholder litigation and bank risk," Journal of Banking & Finance, Elsevier, vol. 146(C).
    203. Victor Arshavskiy, 2016. "Design of Debt Covenants and Loan Market Conditions," BEROC Working Paper Series 37, Belarusian Economic Research and Outreach Center (BEROC).
    204. Gan, Liu & Yang, Zhaojun, 2024. "Financial decisions involving credit default swaps over the business cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 161(C).
    205. Frantz, Pascal & Instefjord, Norvald, 2019. "Debt overhang and non-distressed debt restructuring," Journal of Financial Intermediation, Elsevier, vol. 37(C), pages 75-88.
    206. Denis, David J. & Wang, Jing, 2014. "Debt covenant renegotiations and creditor control rights," Journal of Financial Economics, Elsevier, vol. 113(3), pages 348-367.
    207. Daniel Cohen & Bin Li & Ningzhong Li & Yun Lou, 2022. "Major government customers and loan contract terms," Review of Accounting Studies, Springer, vol. 27(1), pages 275-312, March.
    208. Christophe J. GODLEWSKI, 2013. "Does renegotiation of financial contracts matter for shareholders? Empirical evidence from Europe," Working Papers of LaRGE Research Center 2013-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    209. Mian, Atif & Santos, João A.C., 2018. "Liquidity risk and maturity management over the credit cycle," Journal of Financial Economics, Elsevier, vol. 127(2), pages 264-284.
    210. Peter R. Demerjian, 2017. "Uncertainty and debt covenants," Review of Accounting Studies, Springer, vol. 22(3), pages 1156-1197, September.
    211. Tong, Jamie Yixing & Wang, Yujie & Xiang, Yi & Zhang, Feida Frank, 2025. "Information sharing and loan outcome: Evidence from CEO/CFO-bank links," The British Accounting Review, Elsevier, vol. 57(6).
    212. Amberg, Niklas, 2023. "Do Credit Lines Provide Reliable Liquidity Insurance? Evidence from Commercial-Paper Backup Lines," Working Paper Series 425, Sveriges Riksbank (Central Bank of Sweden).
    213. Baglioni, Angelo & Colombo, Luca & Rossi, Paola, 2025. "Debt restructuring with multiple bank relationships," Journal of Banking & Finance, Elsevier, vol. 178(C).
    214. Manuel Adelino & W. Scott Frame & Kristopher Gerardi, 2014. "The Effect of Large Investors on Asset Quality: Evidence from Subprime Mortgage Securities," FRB Atlanta Working Paper 2014-4, Federal Reserve Bank of Atlanta.
    215. Atay Kizilaslan & Ani Manakyan Mathers, 2014. "Strategic Credit Line Usage And Performance," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 37(2), pages 243-265, June.
    216. Freund, Steven & Kovacs, Tunde & Nguyen, Nam H. & Phan, Hieu V., 2023. "CEO personality traits and debt contracting: Evidence from pilot CEOs," International Review of Financial Analysis, Elsevier, vol. 85(C).
    217. Ma, Zhiming & Stice, Derrald & Williams, Christopher, 2019. "The effect of bank monitoring on public bond terms," Journal of Financial Economics, Elsevier, vol. 133(2), pages 379-396.
    218. Souad Chaieb, 2021. "The Impact of Cash Holding on Debt Cost," International Journal of Economics and Financial Issues, Econjournals, vol. 11(6), pages 75-93.
    219. Zhou, Fuzhao & Shao, Pei & Xie, Feixue & Huang, Jianning, 2023. "The governance role of lender monitoring: Evidence from Borrowers' tax planning," Advances in accounting, Elsevier, vol. 63(C).
    220. Godlewski, Christophe J., 2014. "The determinants of multiple bank loan renegotiations in Europe," International Review of Financial Analysis, Elsevier, vol. 34(C), pages 275-286.
    221. Chengru Hu & Wei Jiang, 2019. "Managerial risk incentives and accounting conservatism," Review of Quantitative Finance and Accounting, Springer, vol. 52(3), pages 781-813, April.
    222. Diana R. Franz & Hassan R. HassabElnaby & Gerald J. Lobo, 2014. "Impact of proximity to debt covenant violation on earnings management," Review of Accounting Studies, Springer, vol. 19(1), pages 473-505, March.
    223. K. Khang & T. D. King, 2015. "Capital market access and corporate loan structure," Applied Economics, Taylor & Francis Journals, vol. 47(4), pages 374-397, January.
    224. Wang, Xiaoxiao & Liu, Haiming, 2022. "The impact of rollover restriction on stock price crash risk," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    225. Massa, Massimo & Zhang, Lei, 2015. "Bank Credit Tightening, Debt Market Frictions and Corporate Yield Spreads," CEPR Discussion Papers 10537, Centre for Economic Policy Research.
    226. Benzoni, Luca & Garlappi, Lorenzo & Goldstein, Robert S. & Ying, Chao, 2022. "Debt dynamics with fixed issuance costs," Journal of Financial Economics, Elsevier, vol. 146(2), pages 385-402.
    227. Clark, Brian & Donato, James & Francis, Bill B & Shohfi, Thomas D, 2023. "Bank loan renegotiation and credit default swaps," Journal of Banking & Finance, Elsevier, vol. 151(C).
    228. Mitkov, Yuliyan, 2024. "A theory of debt maturity and innovation," Journal of Economic Theory, Elsevier, vol. 218(C).
    229. Rui-Xiang Zhai & Po-Hsin Ho & Chih-Yung Lin & Tran Thi Thuy Linh, 2023. "Bank CEO risk-taking incentives and bank lending quality," Review of Quantitative Finance and Accounting, Springer, vol. 60(3), pages 949-981, April.
    230. Duran, Miguel A., 2022. "The risk–return relation in the corporate loan market," The North American Journal of Economics and Finance, Elsevier, vol. 60(C).
    231. Das, Sanjiv R. & Kim, Seoyoung, 2015. "Credit spreads with dynamic debt," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 121-140.
    232. Laux, Christian & Laux, Volker, 2024. "Accounting conservatism and managerial information acquisition," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    233. Donaldson, Jason Roderick & Gromb, Denis & Piacentino, Giorgia, 2020. "The paradox of pledgeability," Journal of Financial Economics, Elsevier, vol. 137(3), pages 591-605.
    234. Liu, Ya & Qiu, Buhui & Wang, Teng, 2021. "Debt rollover risk, credit default swap spread and stock returns: Evidence from the COVID-19 crisis," Journal of Financial Stability, Elsevier, vol. 53(C).
    235. Brian Akins & David De Angelis & Maclean Gaulin, 2020. "Debt Contracting on Management," Journal of Finance, American Finance Association, vol. 75(4), pages 2095-2137, August.
    236. Christophe GODLEWSKI, 2018. "The effects of bank loan renegotiation on corporate policies and performance," Working Papers of LaRGE Research Center 2018-01, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    237. Sharjil M. Haque & Young Soo Jang & Jessie Jiaxu Wang, 2025. "Indirect Credit Supply: How Bank Lending to Private Credit Shapes Monetary Policy Transmission," Finance and Economics Discussion Series 2025-059, Board of Governors of the Federal Reserve System (U.S.).
    238. Gregor Matvos, 2014. "Renegotiation Design: Evidence from National Football League Roster Bonuses," Journal of Law and Economics, University of Chicago Press, vol. 57(2), pages 387-430.
    239. Piskorski, Tomasz & Seru, Amit & Vig, Vikrant, 2010. "Securitization and distressed loan renegotiation: Evidence from the subprime mortgage crisis," Journal of Financial Economics, Elsevier, vol. 97(3), pages 369-397, September.
    240. Renjie, Rex Wang & Verwijmeren, Patrick & Xia, Shuo, 2022. "Corporate governance benefits of mutual fund cooperation," IWH Discussion Papers 21/2022, Halle Institute for Economic Research (IWH).
    241. Yun Zhu, 2015. "Political uncertainty and non-pricing terms of financial contract," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 77-109, June.
    242. Young Sang Kim & Junyoup Lee & Ha-Chin Yi, 2021. "Is Foreign Exchange Risk Priced in Bank Loan Spreads?," Review of Quantitative Finance and Accounting, Springer, vol. 57(3), pages 1061-1092, October.

  12. Amir Sufi, 2009. "Bank Lines of Credit in Corporate Finance: An Empirical Analysis," The Review of Financial Studies, Society for Financial Studies, vol. 22(3), pages 1057-1088, March.

    Cited by:

    1. öZGÜR, Onur, 2011. "A Model of Dynamic Liquidity Contracts," Cahiers de recherche 07-2011, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    2. Zou, Jingxian & Pan, Yinghao & Shu, Fangyu & Jin, Miao, 2025. "Public attention, political ties and digital transformation of private enterprises: Evidence from the Hurun Rich List in China," Journal of Economic Behavior & Organization, Elsevier, vol. 234(C).
    3. Hu, Conghui & Liu, Yu-Jane, 2015. "Valuing diversity: CEOs' career experiences and corporate investment," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 11-31.
    4. Heitor Almeida & Murillo Campello & Igor Cunha & Michael S. Weisbach, 2013. "Corporate Liquidity Management: A Conceptual Framework and Survey," NBER Working Papers 19502, National Bureau of Economic Research, Inc.
    5. Cardella, Laura & Fairhurst, Douglas & Klasa, Sandy, 2021. "What determines the composition of a firm's cash reserves?," Journal of Corporate Finance, Elsevier, vol. 68(C).
    6. Philip Strahan, 2008. "Liquidity Production in 21st Century Banking," NBER Working Papers 13798, National Bureau of Economic Research, Inc.
    7. Anna Burova & Denis Koshelev & Irina Kozlovtceva, 2025. "Patterns of utilisation of corporate credit lines and their implication for financial stability," Bank of Russia Working Paper Series wps158, Bank of Russia.
    8. Glaser, Markus & Müller, Sebastian, 2010. "Is the diversification discount caused by the book value bias of debt?," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2307-2317, October.
    9. Iotti, Mattia, . "Financial evaluation and credit access of agricultural firms," Economia agro-alimentare / Food Economy, Italian Society of Agri-food Economics/Società Italiana di Economia Agro-Alimentare (SIEA), vol. 25(2).
    10. Mascia Bedendo & Linus Siming, 2018. "The mitigating effect of bank financing on shareholder value and firm policies following rating downgrades," Post-Print hal-01636854, HAL.
    11. Sarlin, Peter & Ramsay, Bruce A., 2014. "Ending over-lending: Assessing systemic risk with debt to cash flow," Bank of Finland Research Discussion Papers 11/2014, Bank of Finland.
    12. Evan Gatev & Philip Strahan, 2008. "Liquidity Risk and Syndicate Structure," NBER Working Papers 13802, National Bureau of Economic Research, Inc.
    13. Timothy J. Riddiough & Zhonghua Wu, 2009. "Financial Constraints, Liquidity Management and Investment," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(3), pages 447-481, September.
    14. Nyborg, Kjell G. & Wang, Zexi, 2021. "The effect of stock liquidity on cash holdings: The repurchase motive," Journal of Financial Economics, Elsevier, vol. 142(2), pages 905-927.
    15. Sven Klingler & Olav Syrstad, 2021. "Disclosing the Undisclosed: Commercial Paper As Hidden Liquidity Suffers," Working Paper 2021/16, Norges Bank.
    16. Pitschner, Stefan, 2020. "How do firms set prices? Narrative evidence from corporate filings," European Economic Review, Elsevier, vol. 124(C).
    17. Jose M. Berrospide & Ralf R. Meisenzahl, 2015. "The Real Effects of Credit Line Drawdowns," Finance and Economics Discussion Series 2015-7, Board of Governors of the Federal Reserve System (U.S.).
    18. Anderson, Christopher W. & Babajide Wintoki, M. & Xi, Yaoyi, 2024. "CFO social capital, liquidity management, and the market value of cash✰," Journal of Banking & Finance, Elsevier, vol. 163(C).
    19. Matjaž Volk & Polona Trefalt, 2014. "Access to Credit as a Growth Constraint," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(1), pages 29-39.
    20. Gryglewicz, Sebastian, 2011. "A theory of corporate financial decisions with liquidity and solvency concerns," Journal of Financial Economics, Elsevier, vol. 99(2), pages 365-384, February.
    21. Kiyoung Chang & Ying Li & Ha‐Chin Yi, 2021. "Informed equity ownership and bank loan contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(7-8), pages 1368-1403, July.
    22. Neng Wang & Hui Chen & Patrick Bolton, 2010. "A unified theory of Tobin's q, corporate investment, financing, and risk management," 2010 Meeting Papers 609, Society for Economic Dynamics.
    23. Tang, Kai, 2024. "The influence of managerial ability on corporate financialization," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 1229-1245.
    24. Barbara Casu & Laura Chiaramonte & Ettore Croci & Stefano Filomeni, 2024. "Access to Credit in a Market Downturn," Journal of Financial Services Research, Springer;Western Finance Association, vol. 66(2), pages 143-169, October.
    25. Dzsamila Vonnak, 2015. "Decomposing the Riskiness of Corporate Foreign Currency Lending: the Case of Hungary," KRTK-KTI WORKING PAPERS 1528, Institute of Economics, Centre for Economic and Regional Studies.
    26. Pérez-Orive, Ander, 2016. "Credit constraints, firms׳ precautionary investment, and the business cycle," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 112-131.
    27. Charlotte Østergaard & Amir Sasson & Bent E. Sørensen, 2010. "Real and financial tradeoffs in non-listed firms: Cash flow sensitivities and how they change with shocks to firms' main-bank," Working Paper 2010/27, Norges Bank.
    28. Denis, David J., 2011. "Financial flexibility and corporate liquidity," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 667-674, June.
    29. Lawrenz, Jochen & Oberndorfer, Julia, 2018. "Firm size effects in trade credit supply and demand," Journal of Banking & Finance, Elsevier, vol. 93(C), pages 1-20.
    30. Guido Friebel & Mariassunta Giannetti, 2009. "Fighting for Talent: Risk‐Taking, Corporate Volatility and Organisation Change," Economic Journal, Royal Economic Society, vol. 119(540), pages 1344-1373, October.
    31. Soku Byoun, 2021. "Financial flexibility demand and corporate financial decisions," The Financial Review, Eastern Finance Association, vol. 56(3), pages 481-509, August.
    32. Xiaodan Gao, 2018. "Corporate Cash Hoarding: The Role of Just-in-Time Adoption," Management Science, INFORMS, vol. 64(10), pages 4858-4876, October.
    33. Julian Atanassov, 2016. "Arm’s Length Financing and Innovation: Evidence from Publicly Traded Firms," Management Science, INFORMS, vol. 62(1), pages 128-155, January.
    34. Zhenxu Tong, 2015. "Labor Unions and Forms of Corporate Liquidity," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 42(7-8), pages 1007-1039, September.
    35. Viral V. Acharya & Heitor Almeida & Filippo Ippolito & Ander Perez, 2013. "Credit Lines as Monitored Liquidity Insurance: Theory and Evidence," NBER Working Papers 18892, National Bureau of Economic Research, Inc.
    36. Mario Cerrato & Shengfeng Mei, 2025. "Quantitative Easing, Banks’ Funding Costs, and Credit Line Prices," Working Papers 2025_03, Business School - Economics, University of Glasgow.
    37. Galvani, Valentina, 2021. "The value premium during flights," Finance Research Letters, Elsevier, vol. 39(C).
    38. Nyborg, Kjell & Wang, Zexi, 2019. "Corporate cash holdings: Stock liquidity and the repurchase motive," CEPR Discussion Papers 13791, Centre for Economic Policy Research.
    39. Sun, Ji & Ding, Li & Guo, Jie Michael & Li, Yichen, 2016. "Ownership, capital structure and financing decision: Evidence from the UK," The British Accounting Review, Elsevier, vol. 48(4), pages 448-463.
    40. Anne-Sophie Bergerès & Philippe D'Astous & Georges Dionne, 2013. "Is there any dependence between consumer credit line utilization and default probability on a term loan? Evidence from bank-level data," Working Papers 11-3, HEC Montreal, Canada Research Chair in Risk Management.
    41. Dunbar, Kwamie, 2022. "Impact of the COVID-19 event on U.S. banks’ financial soundness," Research in International Business and Finance, Elsevier, vol. 59(C).
    42. Ding, Wenzhi & Levine, Ross & Lin, Chen & Xie, Wensi, 2021. "Corporate immunity to the COVID-19 pandemic," Journal of Financial Economics, Elsevier, vol. 141(2), pages 802-830.
    43. Michael Schwert, 2020. "Does Borrowing from Banks Cost More than Borrowing from the Market?," Journal of Finance, American Finance Association, vol. 75(2), pages 905-947, April.
    44. Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
    45. Isil Erel & Yeejin Jang & Michael S. Weisbach, 2012. "Financing-Motivated Acquisitions," NBER Working Papers 17867, National Bureau of Economic Research, Inc.
    46. Kathleen M. Kahle & René M. Stulz, 2010. "Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?," NBER Working Papers 16310, National Bureau of Economic Research, Inc.
    47. Attar, Andrea & Casamatta, Catherine & Chassagnon, Arnold & Décamps, Jean-Paul, 2017. "Contracting Sequentially with Multiple Lenders: the Role of Menus," TSE Working Papers 17-821, Toulouse School of Economics (TSE).
    48. Tri Tri Nguyen & Manh Cuong Nguyen & Hung Quang Bui & Tuyet Nhung Vu, 2021. "The cash-holding link within the supply chain," Review of Quantitative Finance and Accounting, Springer, vol. 57(4), pages 1309-1344, November.
    49. Viral V. Acharya & Michael J. Fleming & Warren B. Hrung & Asani Sarkar, 2014. "Dealer financial conditions and lender-of-last resort facilities," Staff Reports 673, Federal Reserve Bank of New York.
    50. Lockhart, G. Brandon, 2014. "Credit lines and leverage adjustments," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 274-288.
    51. Valentina Bruno & Hyun Song Shin, 2020. "Currency Depreciation and Emerging Market Corporate Distress," Management Science, INFORMS, vol. 66(5), pages 1935-1961, May.
    52. Jean-Pierre D. Chateau, 2011. "Contribution à la réglementation de Bâle-3 : de la consistance interne du continuum du crédit commercial en marquant à la « valeur de modèle » le risque de crédit des engagements de crédit," L'Actualité Economique, Société Canadienne de Science Economique, vol. 87(4), pages 445-479.
    53. Shai Levi & Benjamin Segal & Dan Segal, 2021. "Does fiduciary duty to creditors reduce debt covenant violation avoidance behavior?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(5-6), pages 929-953, May.
    54. Joseph, Andreas & Kneer, Christiane & van Horen, Neeltje, 2022. "All You Need is Cash: Corporate Cash Holdings and Investment after the Financial Crisis," CEPR Discussion Papers 14199, Centre for Economic Policy Research.
    55. Javadi, Siamak & Mollagholamali, Mohsen & Nejadmalayeri, Ali & Al-Thaqeb, Saud, 2021. "Corporate cash holdings, agency problems, and economic policy uncertainty," International Review of Financial Analysis, Elsevier, vol. 77(C).
    56. Fang, Yiwei & Fiordelisi, Franco & Hasan, Iftekhar & Leung, Woon Sau & Wong, Gabriel, 2023. "Corporate culture and firm value: Evidence from crisis," Journal of Banking & Finance, Elsevier, vol. 146(C).
    57. Puri, Manju & Rocholl, Jörg & Steffen, Sascha, 2017. "What do a million observations have to say about loan defaults? Opening the black box of relationships," Journal of Financial Intermediation, Elsevier, vol. 31(C), pages 1-15.
    58. Robin Chen & Chia‐Wei Huang & Chih‐Yung Lin, 2022. "Board corruption and loan contracts," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1929-1956, October.
    59. Jorge, José & Kahn, Charles M., 2020. "Illiquidity as a signal," Journal of Financial Stability, Elsevier, vol. 50(C).
    60. Shu Feng & Chang Liu & Xiaoling Pu, 2022. "Connected Lending in Bank Lines of Credit," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(2), pages 187-216, April.
    61. Mario Cerrato & Hormoz Ramian & Shengfeng Mei, 2022. "European firms, Panic Borrowing and Credit Lines Drawdowns: What did we learn from the COVID-19 shock? (updated version February 2023)," Working Papers 2022_12, Business School - Economics, University of Glasgow.
    62. Degryse, Hans & Matthews, Kent & Zhao, Tianshu, 2015. "SMEs and access to bank credit: Evidence on the regional propagation of the financial crisis in the UK," Cardiff Economics Working Papers E2015/10, Cardiff University, Cardiff Business School, Economics Section.
    63. Jean Paul Decamps & Catherine Casamatta & Arnold Chassagnon & Andrea Attar, 2016. "Multiple Lenders, Strategic Default and Covenants," 2016 Meeting Papers 701, Society for Economic Dynamics.
    64. Frank Ranganai Matenda & Mabutho Sibanda & Eriyoti Chikodza & Victor Gumbo, 2021. "Determinants of corporate exposure at default under distressed economic and financial conditions in a developing economy: the case of Zimbabwe," Risk Management, Palgrave Macmillan, vol. 23(1), pages 123-149, June.
    65. Lee, Jiyoon, 2022. "Do firms use credit lines to support investment opportunities?: Evidence from success in R&D," Journal of Empirical Finance, Elsevier, vol. 69(C), pages 1-14.
    66. Yu, Qing & Hui, Eddie Chi-Man & Shen, Jianfu, 2024. "The real impacts of third-party certification on green bond issuances: Evidence from the Chinese green bond market," Journal of Corporate Finance, Elsevier, vol. 89(C).
    67. Anna Białek-Jaworska & Natalia Nehrebecka, 2016. "The role of bank credit in business financing in Poland," Working Papers 2016-03, Faculty of Economic Sciences, University of Warsaw.
    68. Shan, Chenyu & Tang, Dragon Yongjun & Winton, Andrew, 2019. "Do banks still monitor when there is a market for credit protection?," Journal of Accounting and Economics, Elsevier, vol. 68(2).
    69. Ni, Xiaoran & Yin, Sirui, 2018. "Shareholder litigation rights and the cost of debt: Evidence from derivative lawsuits," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 169-186.
    70. Sébastien Roux & Frédérique Savignac, 2017. "SMEs financing: Divergence across Euro area countries?," Working papers 654, Banque de France.
    71. Mitchell Berlin, 2012. "Banks and markets: substitutes, complements, or both?," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 1-10.
    72. Mattia Iotti, 2023. "Financial evaluation and credit access of agricultural firms," Economia agro-alimentare, FrancoAngeli Editore, vol. 25(2), pages 31-67.
    73. Holmberg, Karolina, 2013. "Firm-Level Evidence of Shifts in the Supply of Credit," Working Paper Series 280, Sveriges Riksbank (Central Bank of Sweden).
    74. Iwaki, Hiromichi & Saito, Junyu, 2022. "Does rollover risk matter to payout policies? Evidence from Japanese listed firms," Journal of Economics and Business, Elsevier, vol. 120(C).
    75. Hui Sun & Xiaocong Yang & Xuan Tang & Fei Peng, 2023. "How innovation funding leads enterprises to engage in research and development: Small and medium enterprises’ perspective," PLOS ONE, Public Library of Science, vol. 18(7), pages 1-20, July.
    76. Yan Hu & Connie Mao, 2017. "Accounting quality, bank monitoring, and performance pricing loans," Review of Quantitative Finance and Accounting, Springer, vol. 49(3), pages 569-597, October.
    77. Felipe Iachan, 2012. "Liquidity Scarcity, Project Selection, and Volatility," 2012 Meeting Papers 480, Society for Economic Dynamics.
    78. Kelvin K. F. Law & Lillian F. Mills, 2015. "Taxes and Financial Constraints: Evidence from Linguistic Cues," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 53(4), pages 777-819, September.
    79. Aydin, Deniz & Kim, Olivia S., 2024. "Precautionary Debt Capacity," EconStor Preprints 281672, ZBW - Leibniz Information Centre for Economics.
    80. Joao A. C. Santos & S. Vish Viswanathan, 2020. "Bank Syndicates and Liquidity Provision," NBER Working Papers 27701, National Bureau of Economic Research, Inc.
    81. Borgonovo, Emanuele & Gatti, Stefano, 2013. "Risk analysis with contractual default. Does covenant breach matter?," European Journal of Operational Research, Elsevier, vol. 230(2), pages 431-443.
    82. Roc Armenter, 2012. "The rise of corporate savings," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 1-8.
    83. Duffee, Gregory R. & Hördahl, Peter, 2025. "Debt specialization and diversification: International evidence," Journal of International Money and Finance, Elsevier, vol. 157(C).
    84. Anderson, Mark & Ma, Yan & Park, Han-Up, 2025. "Balance sheet strength in the oil and gas industry: Saving for a rainy day or making hay while the sun shines," Advances in accounting, Elsevier, vol. 68(C).
    85. Akbar, Saeed & Rehman, Shafiq ur & Ormrod, Phillip, 2013. "The impact of recent financial shocks on the financing and investment policies of UK private firms," International Review of Financial Analysis, Elsevier, vol. 26(C), pages 59-70.
    86. Degryse, H.A. & Ioannidou, V. & von Schedvin, E.L., 2011. "On the Non-Exclusivity of Loan Contracts : An Empirical Investigation," Other publications TiSEM 0ac251a7-48f9-4714-92ba-4, Tilburg University, School of Economics and Management.
    87. Rahaman, Mohammad M., 2011. "Access to financing and firm growth," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 709-723, March.
    88. Rogantini Picco, Anna & Amberg, Niklas & Jacobson, Tor & Quadrini, Vincenzo, 2026. "Dynamic credit constraints: theory and evidence from credit lines," Working Paper Series 3216, European Central Bank.
    89. Lenzu, Simone & Manaresi, Francesco, 2018. "Do Marginal Products Differ from User Costs? Micro-Level Evidence from Italian Firms," Working Papers 276, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    90. George D. Cashman & David M. Harrison & Shelly Howton & Benjamin Scheick, 2023. "The Cost of Financial Flexibility: Information Opacity, Agency Conflicts and REIT at-the-Market (ATM) Equity Offerings," The Journal of Real Estate Finance and Economics, Springer, vol. 66(2), pages 505-541, February.
    91. Ivan T. Ivanov & Tom Zimmermann, 2018. "Claim Dilution in the Municipal Debt Market," Finance and Economics Discussion Series 2018-011, Board of Governors of the Federal Reserve System (U.S.).
    92. Ang, James & Smedema, Adam, 2011. "Financial flexibility: Do firms prepare for recession?," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 774-787, June.
    93. Wulung Li, 2021. "The role of accounting quality in corporate liquidity management," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 2631-2670, June.
    94. Margherita Bottero & Stefano schiaffi, 2022. "Firm liquidity and the transmission of monetary policy," Temi di discussione (Economic working papers) 1378, Bank of Italy, Economic Research and International Relations Area.
    95. Benjamin Bureau & Anne Duquerroy & Frédéric Vinas, 2021. "Activity shocks and corporate liquidity: the role of trade credit," Working papers 851, Banque de France.
    96. Caggese, Andrea & Pérez-Orive, Ander, 2022. "How stimulative are low real interest rates for intangible capital?," European Economic Review, Elsevier, vol. 142(C).
    97. Tut, Daniel, 2022. "Debt Dynamic, Debt Dispersion and Corporate Governance," MPRA Paper 113673, University Library of Munich, Germany.
    98. Sabrina Álvarez Cuccia, 2020. "Analysis of the role of financial and operational diversification on the economic performance of Catalan construction businesses (2005-2016)," TEC Empresarial, School of Business, Costa Rica Institute of Technology (ITCR), vol. 14(1), pages 54-70.
    99. Lotfaliei, Babak, 2018. "Zero leverage and the value in waiting to have debt," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 335-349.
    100. Hansen, Erwin & Wagner, Rodrigo, 2017. "Stockpiling cash when it takes time to build: Exploring price differentials in a commodity boom," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 197-212.
    101. Redouane Elkamhi & Latchezar Popov & Raunaq S. Pungaliya, 2023. "Financial maintenance covenants in bank loans," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(4), pages 1197-1255, November.
    102. Christopher F Baum & Mustafa Caglayan & Oleksandr Talavera, 2009. "The Effects of Future Capital Investment and R&D Expenditures on Firms' Liquidity," Boston College Working Papers in Economics 712, Boston College Department of Economics, revised 23 Jul 2012.
    103. Arnoud Boot & Vladimir Vladimirov, 2019. "(Non-)Precautionary Cash Hoarding and the Evolution of Growth Firms," Management Science, INFORMS, vol. 65(11), pages 5290-5307, November.
    104. Devos, Erik & Rahman, Shofiqur & Tsang, Desmond, 2017. "Debt covenants and the speed of capital structure adjustment," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 1-18.
    105. Berlin, Mitchell & Nini, Greg & Yu, Edison G., 2020. "Concentration of control rights in leveraged loan syndicates," Journal of Financial Economics, Elsevier, vol. 137(1), pages 249-271.
    106. Ambrocio, Gene & Colak, Gonul & Hasan, Iftekhar, 2022. "Commitment or constraint? The effect of loan covenants on merger and acquisition activity," Finance Research Letters, Elsevier, vol. 47(PB).
    107. Chen, Chongyang & Kieschnick, Robert, 2018. "Bank credit and corporate working capital management," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 579-596.
    108. Li, Xiao-Lin & Qu, Wentian & Qiu, Guojing, 2025. "How does non-financial firms' systemic risk affect their credit constraints? Evidence from China," China Economic Review, Elsevier, vol. 94(PB).
    109. Isil Erel & Yeejin Jang & Michael S. Weisbach, 2013. "Do Acquisitions Relieve Target Firms' Financial Constraints?," NBER Working Papers 18840, National Bureau of Economic Research, Inc.
    110. Garcia-Appendini, Emilia & Montoriol-Garriga, Judit, 2013. "Firms as liquidity providers: Evidence from the 2007–2008 financial crisis," Journal of Financial Economics, Elsevier, vol. 109(1), pages 272-291.
    111. Mario Cerrato & Hormoz Ramian & Shengfeng Mei, 2023. "European firms,Panic Borrowing and Credit Lines Drawdowns: What did we learn from the COVID-19 Shock?," Working Papers 2023_05, Business School - Economics, University of Glasgow.
    112. Leland D. Crane & Emily Green & Molly Harnish & Will McClennan & Paul E. Soto & Betsy Vrankovich & Jacob Williams, 2024. "Tracking Real Time Layoffs with SEC Filings: A Preliminary Investigation," Finance and Economics Discussion Series 2024-020, Board of Governors of the Federal Reserve System (U.S.).
    113. Sanders, Emiel & Simoens, Mathieu & Vander Vennet, Rudi, 2024. "Curse and blessing: The effect of the dividend ban on euro area bank valuations and syndicated lending," Journal of Banking & Finance, Elsevier, vol. 163(C).
    114. Erik P. Gilje & Elena Loutskina & Daniel Murphy, 2020. "Drilling and Debt," Journal of Finance, American Finance Association, vol. 75(3), pages 1287-1325, June.
    115. Demiroglu, Cem & James, Christopher, 2011. "The use of bank lines of credit in corporate liquidity management: A review of empirical evidence," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 775-782, April.
    116. Tobias Berg & Anthony Saunders & Sascha Steffen, 2016. "The Total Cost of Corporate Borrowing in the Loan Market: Don't Ignore the Fees," Journal of Finance, American Finance Association, vol. 71(3), pages 1357-1392, June.
    117. Mollagholamali, Mohsen & Rao, Ramesh, 2022. "Country-level corporate governance and lines of credit," Finance Research Letters, Elsevier, vol. 45(C).
    118. William Hardin & Michael Highfield & Matthew Hill & G. Kelly, 2009. "The Determinants of REIT Cash Holdings," The Journal of Real Estate Finance and Economics, Springer, vol. 39(1), pages 39-57, July.
    119. Daxuan Zhao, 2024. "Corporate Governance and Collateral Effect of Real Estate," International Real Estate Review, Global Social Science Institute, vol. 27(1), pages 117-138.
    120. Atanasova, Christina & Willeboordse, Frederick H., 2025. "The impact of corporate diversification on liquidity management: Evidence from lines of credit," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 101(C).
    121. Michelson, Noam, 2025. "Credit rationing during credit supply shock: Insights from loan level data," International Review of Economics & Finance, Elsevier, vol. 103(C).
    122. Wang, Xiaodong & Han, Liang & Huang, Xing, 2020. "Bank market power and SME finance: Firm-bank evidence from European countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 64(C).
    123. Wenlian Gao & Feifei Zhu & Kai Chen, 2023. "The role of bank lenders in firm leverage adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 63-97, February.
    124. Afrin, Sadia, 2017. "The role of financial shocks in business cycles with a liability side financial friction," Economic Modelling, Elsevier, vol. 64(C), pages 249-269.
    125. Dean Hanlon, 2019. "Mandatory accounting change and debt covenant violation: Additional evidence from SFAS 150," Australian Journal of Management, Australian School of Business, vol. 44(3), pages 355-387, August.
    126. Cappelletti, Giuseppe & Mistrulli, Paolo Emilio, 2023. "The role of credit lines and multiple lending in financial contagion and systemic events," Journal of Financial Stability, Elsevier, vol. 67(C).
    127. Zhang, Zhipeng, 2009. "Recovery Rates and Macroeconomic Conditions: The Role of Loan Covenants," MPRA Paper 17521, University Library of Munich, Germany.
    128. Zongbo Huang, 2025. "Asset-Side Bank Runs and Liquidity Rationing: A Vicious Cycle," Management Science, INFORMS, vol. 71(4), pages 3537-3557, April.
    129. Ivan T. & Tom Zimmermann, 2021. "The "Privatization" of Municipal Debt," ECONtribute Discussion Papers Series 062, University of Bonn and University of Cologne, Germany.
    130. Kreamer, Jonathan, 2022. "Financial intermediation and the supply of liquidity," Journal of Financial Stability, Elsevier, vol. 61(C).
    131. Syed Manzur Quader, 2017. "Differential effect of liquidity constraints on firm growth," Review of Financial Economics, John Wiley & Sons, vol. 32(1), pages 20-29, January.
    132. R. Vijay Krishna & Shiming Fu, 2016. "Dynamic Financial Contracting with Persistent Private Information," 2016 Meeting Papers 89, Society for Economic Dynamics.
    133. Hugonnier, Julien & Prieto, Rodolfo, 2015. "Asset pricing with arbitrage activity," Journal of Financial Economics, Elsevier, vol. 115(2), pages 411-428.
    134. Darmouni, Olivier & Siani, Kerry Y., 2025. "Bond market stimulus: Firm-level evidence," Journal of Monetary Economics, Elsevier, vol. 151(C).
    135. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Perez, Ander, 2014. "Bank lines of credit as contingent liquidity: A study of covenant violations and their implications," Working Paper Series 1702, European Central Bank.
    136. James R. Brown & Matthew T. Gustafson & Ivan T. Ivanov, 2021. "Weathering Cash Flow Shocks," Journal of Finance, American Finance Association, vol. 76(4), pages 1731-1772, August.
    137. Chada, Swechha & Saravanan, Palanisamy & Varadharajan, Gopal, 2024. "Socioemotional wealth and cash flow sensitivity of cash: Evidence from India," The North American Journal of Economics and Finance, Elsevier, vol. 69(PA).
    138. Rahman, Molla Ramizur & Misra, Arun Kumar & Kumar, Satish, 2024. "A financial supply chain on corporate working capital and interbank lines of credit," International Review of Financial Analysis, Elsevier, vol. 91(C).
    139. Honda, Tomohito, 2022. "The Effects of Credit Lines on Cash Holdings and Capital Investment: Evidence from Japan," RCESR Discussion Paper Series DP22-2, Research Center for Economic and Social Risks, Institute of Economic Research, Hitotsubashi University.
    140. Calluzzo, Paul & Dudley, Evan, 2022. "Corporate hedging fragility in the over-the-counter market," Journal of Empirical Finance, Elsevier, vol. 67(C), pages 253-270.
    141. D’Acunto, Francesco & Liu, Ryan & Pflueger, Carolin & Weber, Michael, 2018. "Flexible prices and leverage," Journal of Financial Economics, Elsevier, vol. 129(1), pages 46-68.
    142. Paul Pelzl & María Teresa, 2023. "Capital Regulations and the Management of Credit Commitments during Crisis Times," Review of Finance, European Finance Association, vol. 27(5), pages 1781-1821.
    143. Biguri, Kizkitza, 2023. "How Does Access to the Unsecured Debt Market Affect Investment?," Journal of Banking & Finance, Elsevier, vol. 152(C).
    144. Nikolov, Boris & Schmid, Lukas & Steri, Roberto, 2019. "Dynamic corporate liquidity," Journal of Financial Economics, Elsevier, vol. 132(1), pages 76-102.
    145. Brown, James R. & Martinsson, Gustav & Thomann, Christian, 2021. "Government lending in a crisis," Journal of Corporate Finance, Elsevier, vol. 71(C).
    146. Zahn Bozanic & Maria Loumioti & Florin P. Vasvari, 2018. "Corporate Loan Securitization and the Standardization of Financial Covenants," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(1), pages 45-83, March.
    147. Tong, Zhenxu, 2012. "Coinsurance effect and bank lines of credit," Journal of Banking & Finance, Elsevier, vol. 36(6), pages 1592-1603.
    148. Haddad, Kamal & Lotfaliei, Babak, 2019. "Trade-off theory and zero leverage," Finance Research Letters, Elsevier, vol. 31(C), pages 165-170.
    149. Laura Alfaro & Mariya Brussevich & Camelia Minoiu & Andrea F. Presbitero, 2025. "Bank Financing of Global Supply Chains," FRB Atlanta Working Paper 2025-4, Federal Reserve Bank of Atlanta.
    150. Vincenzo Quadrini, 2016. "Credit and Firm-Level Volatility of Employment," 2016 Meeting Papers 1254, Society for Economic Dynamics.
    151. He, Feng & Ren, Xingzi & Wang, Yueren & Lei, Xingfan, 2025. "Climate risk and corporate bond credit spreads," Journal of International Money and Finance, Elsevier, vol. 154(C).
    152. Davide Dottori & Giacinto Micucci, 2018. "Corporate liquidity in Italy and its increase in the long recession," Questioni di Economia e Finanza (Occasional Papers) 420, Bank of Italy, Economic Research and International Relations Area.
    153. Erwan Pierre & Stéphane Villeneuve & Xavier Warin, 2016. "Liquidity management with decreasing returns to scale and secured credit line," Finance and Stochastics, Springer, vol. 20(4), pages 809-854, October.
    154. Ran Lu-Andrews, 2017. "Tenant Quality and REIT Liquidity Management," The Journal of Real Estate Finance and Economics, Springer, vol. 54(3), pages 272-296, April.
    155. Liu,Tingting & Ullah,Barkat & Wei,Zuobao & Xu,L. Colin, 2015. "The dark side of disclosure : evidence of government expropriation from worldwide firms," Policy Research Working Paper Series 7254, The World Bank.
    156. Jennifer Betz & Maximilian Nagl & Daniel Rösch, 2022. "Credit line exposure at default modelling using Bayesian mixed effect quantile regression," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 185(4), pages 2035-2072, October.
    157. Gianmarco Bet & Francesco Dainelli & Eugenio Fabrizi, 2023. "The financial health of a company and the risk of its default: Back to the future," Papers 2302.10140, arXiv.org.
    158. Dahiya, Sandeep & Hallak, Issam & Matthys, Thomas, 2025. "Cash holdings and relationship lending," Journal of Corporate Finance, Elsevier, vol. 94(C).
    159. Caselli, Stefano & Garcia-Appendini, Emilia & Ippolito, Filippo, 2013. "Contracts and returns in private equity investments," Journal of Financial Intermediation, Elsevier, vol. 22(2), pages 201-217.
    160. Sun, Zhenzhen & Wang, Yaping, 2015. "Corporate precautionary savings: Evidence from the recent financial crisis," The Quarterly Review of Economics and Finance, Elsevier, vol. 56(C), pages 175-186.
    161. Andrea Attar & Catherine Casamatta & Arnold Chassagnon & Jean Paul Décamps, 2017. "On the Role of Menus in Sequential Contracting: a Multiple Lending Example," CEIS Research Paper 409, Tor Vergata University, CEIS, revised 13 Jul 2017.
    162. Richard Frankel & Bong Hwan Kim & Tao Ma & Xiumin Martin, 2020. "Bank Monitoring and Financial Reporting Quality: The Case of Accounts‐Receivable‐Based Loans," Contemporary Accounting Research, John Wiley & Sons, vol. 37(4), pages 2120-2144, December.
    163. Lins, Karl V. & Servaes, Henri & Tufano, Peter, 2010. "What drives corporate liquidity? An international survey of cash holdings and lines of credit," Journal of Financial Economics, Elsevier, vol. 98(1), pages 160-176, October.
    164. García Lara, Juan Manuel & García Osma, Beatriz & Penalva, Fernando, 2016. "Accounting conservatism and firm investment efficiency," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 221-238.
    165. Ricardo Correa, 2008. "Bank integration and financial constraints: evidence from U.S. firms," International Finance Discussion Papers 925, Board of Governors of the Federal Reserve System (U.S.).
    166. Weiping Hu & Xiao Zhang & Ye He, 2024. "Cash flow sensitivity of cash: when should we use it to measure financial constraints?," Review of Quantitative Finance and Accounting, Springer, vol. 62(2), pages 637-682, February.
    167. Gulesci, Selim & Battaglia, Marianna & Madestam, Andreas, 2018. "Repayment Flexibility and Risk Taking: Experimental Evidence from Credit Contracts," CEPR Discussion Papers 13329, Centre for Economic Policy Research.
    168. Shang, Chenguang, 2021. "Dare to play with fire? Managerial ability and the use of short-term debt," Journal of Corporate Finance, Elsevier, vol. 70(C).
    169. Gabriel Jiménez & José A. López & Jesús Saurina, 2008. "Empirical analysis of corporate credit lines," Working Papers 0821, Banco de España.
    170. Hussain, Inayat & Durand, Robert B. & Harris, Mark N., 2016. "Default resolution and access to fresh credit in an emerging market," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 256-274.
    171. Christopher F Baum & Mustafa Caglayan & Oleksandr Talavera, 2010. "Corporate Liquidity Management and Future Investment Expenditures," University of East Anglia Applied and Financial Economics Working Paper Series 001, School of Economics, University of East Anglia, Norwich, UK..
    172. Thomas Chaney & David Sraer & David Thesmar, 2010. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," NBER Working Papers 16060, National Bureau of Economic Research, Inc.
    173. Kiyoung Chang & Ying Li & Hyeongsop Shim, 2022. "Corporate social responsibility and credit rating around the world: The role of societal trust," The Financial Review, Eastern Finance Association, vol. 57(4), pages 863-891, November.
    174. Richard Friberg & Thomas Seiler, 2021. "Different ways of managing risk as reported in 10‐Ks: A supervised learning approach," The Financial Review, Eastern Finance Association, vol. 56(4), pages 773-792, November.
    175. Cuong Nguyen, 2019. "The asymmetry in firms’ mechanisms of cash holdings adjustments: evidence from the G-5 economies," Review of Quantitative Finance and Accounting, Springer, vol. 53(2), pages 429-463, August.
    176. John R. Graham, 2022. "Presidential Address: Corporate Finance and Reality," Journal of Finance, American Finance Association, vol. 77(4), pages 1975-2049, August.
    177. Arnold, Marc, 2014. "Managerial cash use, default, and corporate financial policies," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 305-325.
    178. Wei, Bin & Yue, Vivian Z., 2020. "Liquidity backstops and dynamic debt runs," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    179. Brown, Scott & Powers, Eric, 2020. "The life cycle of make-whole call provisions," Journal of Corporate Finance, Elsevier, vol. 65(C).
    180. May, Anthony D., 2014. "Corporate liquidity and the contingent nature of bank credit lines: Evidence on the costs and consequences of bank default," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 410-429.
    181. Honda, Tomohito, 2023. "The effects of credit lines on cash holdings and capital investment: Evidence from Japan," Journal of the Japanese and International Economies, Elsevier, vol. 67(C).
    182. Patrick Bolton & Hui Chen & Neng Wang, 2014. "Debt, Taxes, and Liquidity," NBER Working Papers 20009, National Bureau of Economic Research, Inc.
    183. Gurbachan Singh, 2012. "Financial Stability Reports (FSR) of the Reserve Bank of India (RBI), March and December, 2010: A Critical Review with a Long-term Perspective," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 6(1), pages 27-46, February.
    184. Ma, Liang & Mello, Antonio S. & Wu, Youchang, 2020. "First-mover advantage, time to finance, and cash holdings," Journal of Corporate Finance, Elsevier, vol. 62(C).
    185. Vives, Xavier & Ye, Zhiqiang, 2025. "Information technology and lender competition," Journal of Financial Economics, Elsevier, vol. 163(C).
    186. Ullah, Barkat & Wei, Zuobao & Xie, Feixue, 2014. "ISO certification, financial constraints, and firm performance in Latin American and Caribbean countries," Global Finance Journal, Elsevier, vol. 25(3), pages 203-228.
    187. Balasubramanyan, Lakshmi & Berger, Allen N. & Koepke, Matthew M., 2019. "How do lead banks use their private information about loan quality in the syndicated loan market?," Journal of Financial Stability, Elsevier, vol. 43(C), pages 53-78.
    188. Hohenstatt, Ralf & Steininger, Bertram, 2011. "The rat race of capital structure research for REITs and REOCs: Two spotlights on leverage," ZEW Discussion Papers 11-077, ZEW - Leibniz Centre for European Economic Research.
    189. Daher, Mai, 2017. "Creditor control rights, capital structure, and legal enforcement," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 308-330.
    190. Xiao Li & Jeffrey Ng & Walid Saffar, 2024. "Accounting-Driven Bank Monitoring and Firms’ Debt Structure: Evidence from IFRS 9 Adoption," Management Science, INFORMS, vol. 70(1), pages 54-77, January.
    191. Zhao, Yijia (Eddie), 2021. "Does credit type matter for relationship lending? The special role of bank credit lines," Finance Research Letters, Elsevier, vol. 38(C).
    192. Gianni La Cava & Callan Windsor, 2016. "Why Do Companies Hold Cash?," RBA Research Discussion Papers rdp2016-03, Reserve Bank of Australia.
    193. Naveed Chehrazi & Thomas A. Weber, 2015. "Dynamic Valuation of Delinquent Credit-Card Accounts," Management Science, INFORMS, vol. 61(12), pages 3077-3096, December.
    194. Guney, Yilmaz & Karpuz, Ahmet & Ozkan, Neslihan, 2017. "R&D investments and credit lines," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 261-283.
    195. Felipe Restrepo & Lina Cardona Sosa & Philip E. Strahan, 2017. "Funding Liquidity without Banks: Evidence from a Shock to the Cost of Very Short-Term Debt," NBER Working Papers 23179, National Bureau of Economic Research, Inc.
    196. Gustafson, Matthew T. & Ivanov, Ivan T. & Meisenzahl, Ralf R., 2021. "Bank monitoring: Evidence from syndicated loans," Journal of Financial Economics, Elsevier, vol. 139(2), pages 452-477.
    197. Phan, Hieu V. & Nguyen, Nam H. & Nguyen, Hien T. & Hegde, Shantaram, 2019. "Policy uncertainty and firm cash holdings," Journal of Business Research, Elsevier, vol. 95(C), pages 71-82.
    198. Ming-Chi Chen & Chin-Yu Wang & So-De Shyu, 2012. "Liquidity and the Future Stock Returns of the REIT Industry," The Journal of Real Estate Finance and Economics, Springer, vol. 45(3), pages 588-603, October.
    199. Almeida, Heitor & Campello, Murillo & Weisbach, Michael S., 2011. "Corporate financial and investment policies when future financing is not frictionless," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 675-693, June.
    200. Chen, Lirong & Mu, Ruirui & Dai, Yanwen & Huang, Xuanhao, 2024. "Private enterprise identity and short-term debt for long-term investment: Evidence from China," Finance Research Letters, Elsevier, vol. 67(PB).
    201. Blomkvist, Magnus & Felixson, Karl & Liljeblom, Eva & Vyas, Hitesh & Basnet, Anup, 2024. "The acquisition motive of newly credit rated firms," Journal of Banking & Finance, Elsevier, vol. 164(C).
    202. Gordon M. Bodnar & Erasmo Giambona & John R. Graham & Campbell R. Harvey, 2019. "A View Inside Corporate Risk Management," Management Science, INFORMS, vol. 65(11), pages 5001-5026, November.
    203. Thomas Drechsel, 2018. "Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations," 2018 Papers pdr141, Job Market Papers.
    204. Liu, Yang & Yang, J. Jimmy, 2011. "Private debt, unused credit lines, and seasoned equity offerings," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(4), pages 376-388.
    205. Francesco Dainelli & Francesco Giunta & Fabrizio Cipollini, 2013. "Determinants of SME credit worthiness under Basel rules: the value of credit history information," PSL Quarterly Review, Economia civile, vol. 66(264), pages 21-47.
    206. Itzkowitz, Jennifer, 2013. "Customers and cash: How relationships affect suppliers' cash holdings," Journal of Corporate Finance, Elsevier, vol. 19(C), pages 159-180.
    207. Hans B. Christensen & Valeri V. Nikolaev & Regina Wittenberg‐Moerman, 2016. "Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 54(2), pages 397-435, May.
    208. Corsten, Daniel & Gropp, Reint E. & Markou, Panos, 2017. "Suppliers as liquidity insurers," IWH Discussion Papers 8/2017, Halle Institute for Economic Research (IWH).
    209. Gabriel Chodorow-Reich & Olivier M. Darmouni & Stephan Luck & Matthew Plosser, 2020. "Bank Liquidity Provision across the Firm Size Distribution," Staff Reports 942, Federal Reserve Bank of New York.
    210. Simone Lenzu & Francesco Manaresi, 2019. "Sources and implications of resource misallocation: new evidence from firm-level marginal products and user costs," Questioni di Economia e Finanza (Occasional Papers) 485, Bank of Italy, Economic Research and International Relations Area.
    211. Bag, Pinaki, 2010. "Exposure at Default Model for Contingent Credit Line," MPRA Paper 20387, University Library of Munich, Germany.
    212. Sobiech, Anna L. & Chronopoulos, Dimitris K. & Wilson, John O.S., 2021. "The real effects of bank taxation: Evidence for corporate financing and investment," Journal of Corporate Finance, Elsevier, vol. 69(C).
    213. Marandola, Ginevra, 2021. "Local Credit Rating Agencies: Is their economic role underrated?," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 143-156.
    214. Bottero, Margherita & Lenzu, Simone & Mezzanotti, Filippo, 2020. "Sovereign debt exposure and the bank lending channel: Impact on credit supply and the real economy," Journal of International Economics, Elsevier, vol. 126(C).
    215. Kuti, Mónika, 2011. "Cash Flow at Risk, Financial Flexibility and Financing Constraint," Public Finance Quarterly, Corvinus University of Budapest, vol. 56(4), pages 505-517.
    216. Acharya, Viral & Almeida, Heitor & Amihud, Yakov & Liu, Ping, 2021. "Efficiency or resiliency? Corporate choice between financial and operational hedging," CEPR Discussion Papers 15885, Centre for Economic Policy Research.
    217. Borisova, Ginka & Fotak, Veljko & Holland, Kateryna & Megginson, William L., 2015. "Government ownership and the cost of debt: Evidence from government investments in publicly traded firms," Journal of Financial Economics, Elsevier, vol. 118(1), pages 168-191.
    218. Choi, Jiyoon, 2025. "Financial flexibility or financial constraints? Zero-leverage firms during the COVID-19 pandemic," Research in International Business and Finance, Elsevier, vol. 74(C).
    219. Behr, Patrick & Norden, Lars & Noth, Felix, 2013. "Financial constraints of private firms and bank lending behavior," Journal of Banking & Finance, Elsevier, vol. 37(9), pages 3472-3485.
    220. Gürtler, Marc & Hibbeln, Martin Thomas & Usselmann, Piet, 2018. "Exposure at default modeling – A theoretical and empirical assessment of estimation approaches and parameter choice," Journal of Banking & Finance, Elsevier, vol. 91(C), pages 176-188.
    221. Baghai, Ramin & Becker, Bo & Pitschner, Stefan, 2018. "The Private Use of Credit Ratings: Evidence from Mutual Fund Investment Mandates," CEPR Discussion Papers 13418, Centre for Economic Policy Research.
    222. Friberg, Richard & Seiler, Thomas, 2017. "Risk and ambiguity in 10-Ks: An examination of cash holding and derivatives use," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 608-631.
    223. Junho Park, 2022. "We are advertis’d by our loving friends: CEO‐connected directors," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(3), pages 3189-3238, September.
    224. Berg, Tobias & Saunders, Anthony & Steffen, Sascha, 2015. "The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 489, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    225. Heng An & William Hardin & Zhonghua Wu, 2012. "Information Asymmetry and Corporate Liquidity Management: Evidence from Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 45(3), pages 678-704, October.
    226. Acharya, Viral & Viswanathan, S., 2008. "Moral Hazard, Collateral and Liquidity," CEPR Discussion Papers 6630, Centre for Economic Policy Research.
    227. Veljko Fotak, 2016. "A Spark from the Public Sector: Co-lending by Government-owned and Private-sector Lenders," BAFFI CAREFIN Working Papers 1624, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    228. Erwan Morellec & Philip Valta & Alexei Zhdanov, 2015. "Financing Investment: The Choice Between Bonds and Bank Loans," Management Science, INFORMS, vol. 61(11), pages 2580-2602, November.
    229. Miguel A. Duran, 2024. "Pricing and Usage: An Empirical Analysis of Lines of Credit," Papers 2401.12301, arXiv.org.
    230. Ghada Tayem, 2022. "Credit Constraints and Investment-Cash Flow Sensitivity in Declining Economic Conditions: The Role of Reliance on Bank Debt," Economies, MDPI, vol. 10(11), pages 1-15, November.
    231. Drobetz, Wolfgang & Haller, Rebekka & Meier, Iwan, 2016. "Cash flow sensitivities during normal and crisis times: Evidence from shipping," Transportation Research Part A: Policy and Practice, Elsevier, vol. 90(C), pages 26-49.
    232. Mauricio Jara-Bert√≠n & Cristian Pinto-GutiÔøΩrrez & Carlos Pombo, 2018. "The Effect of Intra-Group Loans on the Cash Flow Sensitivity of Cash: Evidence from Chile," Documentos CEDE 15993, Universidad de los Andes, Facultad de Economía, CEDE.
    233. Bedendo, Mascia & Siming, Linus, 2018. "The mitigating effect of bank financing on shareholder value and firm policies following rating downgrades," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 94-108.
    234. Wu, Kai & Lu, Yufei, 2025. "The digital dilemma: Corporate digital transformation and default risk," Journal of Financial Stability, Elsevier, vol. 77(C).
    235. Itzkowitz, Jennifer, 2015. "Buyers as stakeholders: How relationships affect suppliers' financial constraints," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 54-66.
    236. Mark S. Carey & Michael B. Gordy, 2016. "The Bank as Grim Reaper : Debt Composition and Bankruptcy Thresholds," Finance and Economics Discussion Series 2016-069, Board of Governors of the Federal Reserve System (U.S.).
    237. Gong, Di & Xu, Jiajun & Yan, Jianye, 2023. "National development banks and loan contract terms: Evidence from syndicated loans," Journal of International Money and Finance, Elsevier, vol. 130(C).
    238. Vitaly M. Bord & João A.C. Santos, 2014. "Banks' Liquidity and the Cost of Liquidity to Corporations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(s1), pages 13-45, February.
    239. Yang, Daniel G., 2025. "Foreign bank branch participation and U.S. syndicated loan contract design," Journal of Accounting and Economics, Elsevier, vol. 79(1).
    240. Liao, Rose C., 2014. "What drives corporate minority acquisitions around the world? The case for financial constraints," Journal of Corporate Finance, Elsevier, vol. 26(C), pages 78-95.
    241. Yun Fan & Wayne B. Thomas & Xiaoou Yu, 2019. "The Impact of Financial Covenants in Private Loan Contracts on Classification Shifting," Management Science, INFORMS, vol. 65(8), pages 3637-3653, August.
    242. Zhang, Wei, 2025. "Bank liquidity supply and corporate investment during the 2008–2009 financial crisis," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    243. Kim, Hyun-Dong & Kim, Yura & Mantecon, Tomas & Song, Kyojik Roy, 2019. "Short-term institutional investors and agency costs of debt," Journal of Business Research, Elsevier, vol. 95(C), pages 195-210.
    244. Ellul, Andrew & Borisov, Alexander & Sevilir, Merih, 2015. "Access to Public Capital Markets and Employment Growth," CEPR Discussion Papers 10521, Centre for Economic Policy Research.
    245. Ki Young Park, 2018. "New Evidence on Procyclical Bank Capital Regulation: The Role of Bank Loan Commitments," Working papers 2018rwp-130, Yonsei University, Yonsei Economics Research Institute.
    246. Jordan Schoenfeld, 2020. "Contracts Between Firms and Shareholders," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 58(2), pages 383-427, May.
    247. Zhang, Zhipeng, 2009. "Who Pulls the Plug? Theory and Evidence on Corporate Bankruptcy Decisions," MPRA Paper 17676, University Library of Munich, Germany, revised 05 Oct 2009.
    248. Gropp, Reint & Boissay, Frédéric, 2007. "Trade credit defaults and liquidity provision by firms," Working Paper Series 753, European Central Bank.
    249. Qianwei Ying & Danglun Luo & Lifan Wu, 2013. "Bank Credit Lines and Overinvestment: Evidence from China," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 7(2), pages 43-52.
    250. Ting-Kai Chou, 2013. "Information content of credit ratings in pricing of future earnings," Review of Quantitative Finance and Accounting, Springer, vol. 40(2), pages 217-250, February.
    251. Hwang Hee Lee & Frederick Dongchuhl Oh, 2022. "The role of credit default swaps in determining corporate payout policy," Financial Management, Financial Management Association International, vol. 51(2), pages 635-661, June.
    252. Thi Nguyen, Loan Quynh & Matousek, Roman & Muradoglu, Gulnur, 2024. "Bank capital, liquidity creation and the moderating role of bank culture: An investigation using a machine learning approach," Journal of Financial Stability, Elsevier, vol. 72(C).
    253. Murillo Campello & Heitor Almeida, 2010. "Aggregate Risk and the Choice Between Cash and Lines of Credit," 2010 Meeting Papers 1287, Society for Economic Dynamics.
    254. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Orive, Ander Perez, 2020. "Bank lines of credit as contingent liquidity: Covenant violations and their implications," Journal of Financial Intermediation, Elsevier, vol. 44(C).
    255. Viral V. Acharya & Heitor Almeida & Filippo Ippolito & Ander Perez‐Orive, 2021. "Credit Lines and the Liquidity Insurance Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 901-938, August.
    256. Lee, Chien-Chiang & Wang, Chih-Wei & Hsieh, Hsin-Yi & Chen, Wen-Ling, 2023. "The impact of central bank digital currency variation on firm's implied volatility," Research in International Business and Finance, Elsevier, vol. 64(C).
    257. Roberto Steri & Lukas Schmid, 2013. "Dynamic Corporate Liquidiy," 2013 Meeting Papers 1266, Society for Economic Dynamics.
    258. Judit Montoriol-Garriga & J. Christina Wang, 2011. "The Great Recession and bank lending to small businesses," Working Papers 11-16, Federal Reserve Bank of Boston.
    259. Acharya, Viral & Almeida, Heitor & Campello, Murillo, 2012. "Aggregate Risk and the Choice between Cash and Lines of Credit," CEPR Discussion Papers 8913, Centre for Economic Policy Research.
    260. Galya Taseva-Petkova, 2021. "Determinants of the ability of SMEs in Bulgaria to cover their current liabilities with the cash flow from their operating activities," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 115-125.
    261. Almeida, Heitor & Campello, Murillo & Hackbarth, Dirk, 2011. "Liquidity mergers," Journal of Financial Economics, Elsevier, vol. 102(3), pages 526-558.
    262. Douglas (DJ) Fairhurst, 2020. "Financing seasonal demand," Financial Management, Financial Management Association International, vol. 49(3), pages 839-870, September.
    263. Armenter, Roc & Hnatkovska, Viktoria, 2017. "Taxes and capital structure: Understanding firms’ savings," Journal of Monetary Economics, Elsevier, vol. 87(C), pages 13-33.
    264. Quader, Syed Manzur, 2017. "Differential effect of liquidity constraints on firm growth," Review of Financial Economics, Elsevier, vol. 32(C), pages 20-29.
    265. Rahaman, Mohammad M. & Zaman, Ashraf Al, 2013. "Management quality and the cost of debt: Does management matter to lenders?," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 854-874.
    266. Miguel A. Duran, 2024. "The Risk-Return Relation in the Corporate Loan Market," Papers 2401.12315, arXiv.org.
    267. Huang, Jing-Zhi & Wang, Yan & Wang, Ying, 2024. "Does ownership concentration affect corporate bond volatility? Evidence from bond mutual funds," Journal of Banking & Finance, Elsevier, vol. 165(C).
    268. Shenoy, Jaideep & Williams, Ryan, 2017. "Trade credit and the joint effects of supplier and customer financial characteristics," Journal of Financial Intermediation, Elsevier, vol. 29(C), pages 68-80.
    269. Xu Li & Chen Lin & Xintong Zhan, 2019. "Does Change in the Information Environment Affect Financing Choices?," Management Science, INFORMS, vol. 65(12), pages 5676-5696, December.
    270. Ghada Tayem, 2017. "To Bank or Not to Bank: The Determination of Cash Holdings and Lines of Credit," Working Papers 1130, Economic Research Forum, revised 08 2017.
    271. Darrell Duffie & Cooperman Harry & Stephan Luck & Zachry Wang & Yilin Yang, 2022. "Bank Funding Risk, Reference Rates, and Credit Supply," Staff Reports 1042, Federal Reserve Bank of New York.
    272. Mingyi Hung & Yupeng Lin & Lynn Linghuan Wang & Zilong Zhang, 2026. "The Impact of Bank Financing on Borrowers’ Voluntary Disclosures and Real Investments," Management Science, INFORMS, vol. 72(2), pages 1175-1197, February.
    273. Roberts, Michael R. & Sufi, Amir, 2009. "Renegotiation of financial contracts: Evidence from private credit agreements," Journal of Financial Economics, Elsevier, vol. 93(2), pages 159-184, August.
    274. Rhys M. Bidder & John Krainer & Adam Hale Shapiro, 2019. "De-leveraging or De-risking? How Banks Cope with Loss," Working Paper Series 2017-3, Federal Reserve Bank of San Francisco.
    275. Bryan Stanhouse & Duane Stock, 2016. "Credit line takedown and endogenous bank capital," Review of Quantitative Finance and Accounting, Springer, vol. 46(4), pages 691-723, May.
    276. Sasaki, Toshinori & Suzuki, Katsushi, 2019. "Bank health and cash holdings: Evidence from a bank-centered financial market," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    277. Daniel Saavedra, 2023. "Do firms follow the SEC’s confidential treatment protocols? Evidence from credit agreements," Review of Accounting Studies, Springer, vol. 28(3), pages 1388-1412, September.
    278. Elyasiani, Elyas & Zhang, Ling, 2015. "CEO entrenchment and corporate liquidity management," Journal of Banking & Finance, Elsevier, vol. 54(C), pages 115-128.
    279. Wu, Wei-Shao & Fok, Robert C.W. & Chang, Yuanchen & Chen, Chao-Jung, 2022. "Credit default swaps and corporate performance smoothing," Journal of Corporate Finance, Elsevier, vol. 75(C).
    280. Chang, Ching-Hung & Chen, Sheng-Syan & Chen, Yan-Shing & Peng, Shu-Cing, 2019. "Commitment to build trust by socially responsible firms: Evidence from cash holdings," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 364-387.
    281. Nini, Greg & Smith, David C. & Sufi, Amir, 2009. "Creditor control rights and firm investment policy," Journal of Financial Economics, Elsevier, vol. 92(3), pages 400-420, June.
    282. Shikimi, Masayo, 2019. "Bank relationships and corporate cash holdings," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    283. Bouwman, Christa H. S., 2013. "Liquidity: How Banks Create It and How It Should Be Regulated," Working Papers 13-32, University of Pennsylvania, Wharton School, Weiss Center.
    284. Viktoria Hnatkovska & Roc Armenter, 2012. "The Macroeconomics of Firms' Savings," 2012 Meeting Papers 803, Society for Economic Dynamics.
    285. Tong, Jamie Yixing & Wang, Yujie & Xiang, Yi & Zhang, Feida Frank, 2025. "Information sharing and loan outcome: Evidence from CEO/CFO-bank links," The British Accounting Review, Elsevier, vol. 57(6).
    286. Hollander, Stephan & Verriest, Arnt, 2016. "Bridging the gap: the design of bank loan contracts and distance," Journal of Financial Economics, Elsevier, vol. 119(2), pages 399-419.
    287. Aram, Mohsen & Nejadmalayeri, Ali, 2023. "National culture, lines of credit, and firm liquidity," International Review of Financial Analysis, Elsevier, vol. 90(C).
    288. Atay Kizilaslan & Ani Manakyan Mathers, 2014. "Strategic Credit Line Usage And Performance," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 37(2), pages 243-265, June.
    289. Heikki Peura & S. Alex Yang & Guoming Lai, 2017. "Trade Credit in Competition: A Horizontal Benefit," Manufacturing & Service Operations Management, INFORMS, vol. 19(2), pages 263-289, May.
    290. Yildirim, Yusuf & Sanyal, Anirban, 2021. "Financial Stress and Effect on Real Economy: The Turkish Experience," MPRA Paper 109845, University Library of Munich, Germany.
    291. Martin Boileau & Nathalie Moyen, 2016. "Corporate Cash Holdings And Credit Line Usage," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(4), pages 1481-1506, November.
    292. Michael Moise & James M. O'Brien & John Tschirhart & Emily Yang, 2007. "Bank commercial loan fair value practices," Finance and Economics Discussion Series 2007-29, Board of Governors of the Federal Reserve System (U.S.).
    293. Fotak, Veljko & Lee, Haekwon, 2020. "Public-private co-lending: Evidence from syndicated corporate loans," Journal of Banking & Finance, Elsevier, vol. 119(C).
    294. Diana R. Franz & Hassan R. HassabElnaby & Gerald J. Lobo, 2014. "Impact of proximity to debt covenant violation on earnings management," Review of Accounting Studies, Springer, vol. 19(1), pages 473-505, March.
    295. Mai Iskandar-Datta & Yonghong Jia, 2014. "Investor protection and corporate cash holdings around the world: new evidence," Review of Quantitative Finance and Accounting, Springer, vol. 43(2), pages 245-273, August.
    296. Liu, Congcong & Luo, Danglun, 2025. "Feeling the heat: The impact of temperature anomalies on corporate investment in China," Economic Modelling, Elsevier, vol. 151(C).
    297. Choi, Young Mok & Park, Kunsu, 2019. "Does foreign currency-denominated debt affect dividend payout policy? Evidence from Korea," Journal of Multinational Financial Management, Elsevier, vol. 49(C), pages 20-34.
    298. Masanori Orihara & Yoshiaki Ogura & Yue Cai, 2022. "Borrowing in Unsettled Times and Cash Holdings Afterwards," Working Papers 2207, Waseda University, Faculty of Political Science and Economics.
    299. Kahle, Kathleen M. & Stulz, Rene M., 2011. "Financial Policies, Investment, and the Financial Crisis: Impaired Credit Channel or Diminished Demand for Capital?," Working Paper Series 2011-3, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    300. Shuangling, Zhao & Guohua, Cao & Lijuan, Wu, 2019. "Tangible and intangible investment in corporate finance," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    301. Wu, Wanshan & Jin, Lumin & Chen, Chang-Chih & Fang, Jianchun & Yan, Cheng, 2025. "Structural monetary policy, corporate behavior, and pay gap: Evidence from SMEs in China," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    302. Caixe, Daniel Ferreira, 2025. "Policy uncertainty and cash holdings: The role of corporate governance in Brazil," Research in International Business and Finance, Elsevier, vol. 80(C).
    303. Atanasova, Christina & Li, Mingxin, 2019. "Do all diversified firms hold less cash? The role of product market competition," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 134-152.
    304. Michelle Hanlon & Edward L. Maydew & Daniel Saavedra, 2017. "The taxman cometh: Does tax uncertainty affect corporate cash holdings?," Review of Accounting Studies, Springer, vol. 22(3), pages 1198-1228, September.
    305. Lashitew, Addisu A., 2011. "Does Access to Finance Lower Firms’ Cost of Capital? Empirical Evidence from International Manufacturing Data," GGDC Research Memorandum GD-120, Groningen Growth and Development Centre, University of Groningen.
    306. Intan Suryani Abu Bakar & Arifur Khan & Paul Mather & George Tanewski, 2020. "Board monitoring and covenant restrictiveness in private debt contracts during the global financial crisis," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(S1), pages 661-692, April.
    307. Viral V. Acharya & Sascha Steffen, 2020. "The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID," NBER Working Papers 27601, National Bureau of Economic Research, Inc.
    308. Chris M. Lawrey & Kathleen P. Fuller & Brandon C. L. Morris, 2020. "Paying dividends: Cash or credit?," Journal of Asset Management, Palgrave Macmillan, vol. 21(6), pages 513-523, October.
    309. Alexander Borisov & Andrew Ellul & Merih Sevilir, 2015. "Access to Public Capital Markets and Employment Growth," CSEF Working Papers 399, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    310. Sung-Eun Yu, 2017. "The Behavior of Small and Large Firms during Business Cycle Episodes and during Monetary Policy Episodes: A Comparison of Earlier and Recent Periods," Working Paper Series, Department of Economics, University of Utah 2017_05, University of Utah, Department of Economics.
    311. Albring, Susan & Huang, Shawn & Pereira, Raynolde & Xu, Xiaolu, 2020. "Disclosure and liquidity management: Evidence from regulation fair disclosure," Journal of Contemporary Accounting and Economics, Elsevier, vol. 16(3).
    312. Kahle, Kathleen M. & Stulz, René M., 2013. "Access to capital, investment, and the financial crisis," Journal of Financial Economics, Elsevier, vol. 110(2), pages 280-299.
    313. Yichu Huang & Lei Chen & Frank Hong Liu, 2024. "Bank intervention and firms’ earnings management: evidence from debt covenant violations," Review of Quantitative Finance and Accounting, Springer, vol. 63(1), pages 237-264, July.
    314. Liu, Ya & Qiu, Buhui & Wang, Teng, 2021. "Debt rollover risk, credit default swap spread and stock returns: Evidence from the COVID-19 crisis," Journal of Financial Stability, Elsevier, vol. 53(C).
    315. Koussis, Nicos & Martzoukos, Spiros H., 2022. "Credit line pricing under heterogeneous risk beliefs," International Journal of Production Economics, Elsevier, vol. 243(C).
    316. Santiago Carbó‐Valverde & Francisco Rodríguez‐Fernández & Gregory F. Udell, 2016. "Trade Credit, the Financial Crisis, and SME Access to Finance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(1), pages 113-143, February.
    317. Holmberg, Karolina, 2013. "Lines of Credit and Investment: Firm-Level Evidence of Real Effects of the Financial Crisis," Working Paper Series 281, Sveriges Riksbank (Central Bank of Sweden).
    318. Galya Taseva, 2020. "Determinants of Short-term Liabilities of Financially Distressed SME-s," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 5-24.
    319. Cem Demiroglu & Christopher James & Atay Kizilaslan, 2012. "Bank Lending Standards and Access to Lines of Credit," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(6), pages 1063-1089, September.
    320. Guillaume Rocheteau & Tsz-Nga Wong & Cathy Zhang, 2018. "Lending Relationships and Optimal Monetary Policy," Purdue University Economics Working Papers 1306, Purdue University, Department of Economics.
    321. Nyborg, Kjell & Wang, Zexi, 2013. "Stock Liquidity and Corporate Cash Holdings," CEPR Discussion Papers 9535, Centre for Economic Policy Research.

  13. Nini, Greg & Smith, David C. & Sufi, Amir, 2009. "Creditor control rights and firm investment policy," Journal of Financial Economics, Elsevier, vol. 92(3), pages 400-420, June.

    Cited by:

    1. Tang, Ning & Kamar, Amina & Lin, Chih-Yung & Lu, Chien-Lin, 2023. "Bank safety-oriented culture and lending decisions," Journal of Financial Stability, Elsevier, vol. 66(C).
    2. Paul Demeré, 2023. "Is tax return information useful to equity investors?," Review of Accounting Studies, Springer, vol. 28(3), pages 1413-1465, September.
    3. Young Zik Shin & Jeung-Yoon Chang & Kyeongmin Jeon & Hyunpyo Kim, 2020. "Female directors on the board and investment efficiency: evidence from Korea," Asian Business & Management, Palgrave Macmillan, vol. 19(4), pages 438-479, September.
    4. Heitor Almeida & Murillo Campello & Igor Cunha & Michael S. Weisbach, 2013. "Corporate Liquidity Management: A Conceptual Framework and Survey," NBER Working Papers 19502, National Bureau of Economic Research, Inc.
    5. Yushu Zhu & Jennifer Gippel & Kathy Walsh, 2017. "Informed trading on debt covenant violations: the long and short of it," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(1), pages 289-315, March.
    6. Demerjian, Peter R., 2011. "Accounting standards and debt covenants: Has the “balance sheet approach” led to a decline in the use of balance sheet covenants?," Journal of Accounting and Economics, Elsevier, vol. 52(2), pages 178-202.
    7. Choy, Stacey & Jiang, Shushu & Liao, Scott & Wang, Emma, 2024. "Public environmental enforcement and private lender monitoring: Evidence from environmental covenants," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    8. Antonio Falato & Nellie Liang, 2016. "Do Creditor Rights Increase Employment Risk? Evidence from Loan Covenants," Journal of Finance, American Finance Association, vol. 71(6), pages 2545-2590, December.
    9. Shafron, Emily, 2019. "Investor tastes: Implications for asset pricing in the public debt market," Journal of Corporate Finance, Elsevier, vol. 55(C), pages 6-27.
    10. Victoria Ivashina & Boris Vallee, 2020. "Weak Credit Covenants," NBER Working Papers 27316, National Bureau of Economic Research, Inc.
    11. Wang, Jing, 2017. "Debt covenant design and creditor control rights: Evidence from the tightest covenant," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 331-352.
    12. Im, Hyun Joong & Kang, Ya & Shon, Janghoon, 2020. "How does uncertainty influence target capital structure?," Journal of Corporate Finance, Elsevier, vol. 64(C).
    13. Lin, Luca X., 2022. "Taking no chances: Lender concentration and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    14. Engelberg, Joseph & Gao, Pengjie & Parsons, Christopher A., 2012. "Friends with money," Journal of Financial Economics, Elsevier, vol. 103(1), pages 169-188.
    15. Miguel Faria-e-Castro & Radhakrishnan Gopalan & Avantika Pal & Juan M. Sanchez & Vijay Yerramilli, 2022. "EBITDA Add-backs in Debt Contracting: A Step Too Far?," Working Papers 2022-029, Federal Reserve Bank of St. Louis.
    16. Gregor Matvos, 2013. "Estimating the Benefits of Contractual Completeness," The Review of Financial Studies, Society for Financial Studies, vol. 26(11), pages 2798-2844.
    17. Takuma Kochiyama & Ryosuke Nakamura & Akinobu Shuto, 2021. "How do bank lenders use borrowers’ financial statements? Evidence from a survey of Japanese banks," CARF F-Series CARF-F-522, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    18. Reisel, Natalia, 2014. "On the value of restrictive covenants: Empirical investigation of public bond issues," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 251-268.
    19. Jeffrey Pittman & Yuping Zhao, 2020. "Debt Covenant Restriction, Financial Misreporting, and Auditor Monitoring," Contemporary Accounting Research, John Wiley & Sons, vol. 37(4), pages 2145-2185, December.
    20. Kiyoung Chang & Ying Li & Ha‐Chin Yi, 2021. "Informed equity ownership and bank loan contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(7-8), pages 1368-1403, July.
    21. Bulan, Laarni & Hull, Tyler, 2013. "The impact of technical defaults on dividend policy," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 814-823.
    22. Do, Viet & Truong, Cameron & Vu, Tram, 2022. "Options listings and loan contract terms: Information versus risk-shifting," Journal of Financial Markets, Elsevier, vol. 58(C).
    23. Song Ma & Joy Tianjiao Tong & Wei Wang, 2022. "Bankrupt Innovative Firms," Management Science, INFORMS, vol. 68(9), pages 6971-6992, September.
    24. Sahoo, Jyoti Ranjan & Mishra, Ajay Kumar, 2025. "Debt maturity, creditor rights, and capital allocation efficiency: Evidence from quasi-natural experiments in India," Journal of Financial Stability, Elsevier, vol. 81(C).
    25. Chen, Ciao-Wei & Correia, Maria & Urcan, Oktay, 2023. "Accounting for leases and corporate investment," LSE Research Online Documents on Economics 117182, London School of Economics and Political Science, LSE Library.
    26. Ali Uyar & Cemil Kuzey & Ahsan Habib & Dinithi Ranasinghe & Abdullah S. Karaman, 2025. "R&D, Corporate Philanthropy, and Cash Flow Volatility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(6), pages 8523-8546, November.
    27. Sandrine Docgne, 2022. "Bond covenants and investment policy," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(3), pages 551-578, September.
    28. Xiangge Wang & Kirsten A. Cook, 2026. "Dual Holders and Corporate Tax Policies," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 66(1), pages 357-391, March.
    29. Saunders, Anthony & Song, Keke, 2018. "Bank monitoring and CEO risk-taking incentives," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 225-240.
    30. Ningzhong Li & Yun Lou & Florin P. Vasvari, 2015. "Default clauses in debt contracts," Review of Accounting Studies, Springer, vol. 20(4), pages 1596-1637, December.
    31. Ivan E. Brick & Rose C. Liao, 2017. "The joint determinants of cash holdings and debt maturity: the case for financial constraints," Review of Quantitative Finance and Accounting, Springer, vol. 48(3), pages 597-641, April.
    32. Allen, Franklin & Gu, Xian & Kowalewski, Oskar, 2018. "Financial Structure, Economic Growth and Development," CEPR Discussion Papers 12859, Centre for Economic Policy Research.
    33. Zhang, Xinde & Zhou, Simiao, 2018. "Bond covenants and institutional blockholding," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 136-152.
    34. Sadok El Ghoul & Omrane Guedhami & Chuck C Y Kwok & Ying Zheng, 2021. "The role of creditor rights on capital structure and product market interactions: International evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(1), pages 121-147, February.
    35. Michael R. Roberts, 2014. "The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting," NBER Working Papers 20484, National Bureau of Economic Research, Inc.
    36. Ningzhong Li, 2010. "Negotiated Measurement Rules in Debt Contracts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 48(5), pages 1103-1144, December.
    37. Paul A. Griffin & David H. Lont & Kate McClune, 2014. "Insightful Insiders? Insider Trading and Stock Return around Debt Covenant Violation Disclosures," Abacus, Accounting Foundation, University of Sydney, vol. 50(2), pages 117-145, June.
    38. Hakenes, Hendrik & Boyd, John H. & Heitz, Amanda Rae, 2016. "The Effects of Creditor Rights and Bank Information Sharing on Borrower Behavior: Theory and Evidence," CEPR Discussion Papers 11699, Centre for Economic Policy Research.
    39. Lockhart, G. Brandon, 2014. "Credit lines and leverage adjustments," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 274-288.
    40. Gabriel Chodorow-Reich & Antonio Falato, 2017. "The Loan Covenant Channel: How Bank Health Transmits to the Real Economy," NBER Working Papers 23879, National Bureau of Economic Research, Inc.
    41. Byrd, John & Fraser, Donald R. & Scott Lee, D. & Tartaroglu, Semih, 2012. "Are two heads better than one? Evidence from the thrift crisis," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 957-967.
    42. Ahmet Degerli & Jing Wang, 2026. "Monetary Policy Exposure of Banks and Loan Contracting," Finance and Economics Discussion Series 2026-008, Board of Governors of the Federal Reserve System (U.S.).
    43. Tahir Akhtar & Mohammad Ali Tareq & Kashif Rashid, 2023. "The role of shareholders and creditors' rights in affecting cash holdings and firm value: A recent evidence from ASEAN," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 929-961, January.
    44. Liangliang Jiang & Hui Zhou, 2017. "The role of audit verification in debt contracting: evidence from covenant violations," Review of Accounting Studies, Springer, vol. 22(1), pages 469-501, March.
    45. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Perez, Ander, 2014. "Credit lines as monitored liquidity insurance: Theory and evidence," Journal of Financial Economics, Elsevier, vol. 112(3), pages 287-319.
    46. Wonik Choi & Jongha Lim, 2022. "Did they live happily ever after? The fate of restructured firms after hedge fund activism," The Financial Review, Eastern Finance Association, vol. 57(4), pages 925-947, November.
    47. Espenlaub, Susanne & Khurshed, Arif & Neufeld, Anna, 2025. "Loan amendments and capital structure," International Review of Financial Analysis, Elsevier, vol. 102(C).
    48. Streitz, Daniel, 2015. "The impact of credit default swap trading on loan syndication," SFB 649 Discussion Papers 2015-012, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    49. Xu, Guang & Zhang, Xiaoyan, 2024. "The aftermath of covenant violations: Evidence from China's corporate debt securities," Journal of Empirical Finance, Elsevier, vol. 78(C).
    50. Carrizosa, Richard & Ryan, Stephen G., 2017. "Borrower private information covenants and loan contract monitoring," Journal of Accounting and Economics, Elsevier, vol. 64(2), pages 313-339.
    51. Borgonovo, Emanuele & Gatti, Stefano, 2013. "Risk analysis with contractual default. Does covenant breach matter?," European Journal of Operational Research, Elsevier, vol. 230(2), pages 431-443.
    52. Amiraslani, Hami & Donovan, John & Phillips, Matthew A. & Wittenberg-Moerman, Regina, 2023. "Contracting in the Dark: The rise of public-side lenders in the syndicated loan market," Journal of Accounting and Economics, Elsevier, vol. 76(1).
    53. Richard Arhinful & Mehrshad Radmehr, 2023. "The Impact of Financial Leverage on the Financial Performance of the Firms Listed on the Tokyo Stock Exchange," SAGE Open, , vol. 13(4), pages 21582440231, November.
    54. Gu, Xian & Kowalewski, Oskar, 2016. "Creditor rights and the corporate bond market," Journal of International Money and Finance, Elsevier, vol. 67(C), pages 215-238.
    55. Liu, Xin & Liu, Chenlan & Duan, Mingzhe & Chen, Sicen, 2025. "Cash management amid HFCAA-Induced data breach risks: A comparative analysis of reactive vs. proactive responses in Chinese firms," International Review of Economics & Finance, Elsevier, vol. 99(C).
    56. Duong Hoang Vu & Drahomíra Pavelková & Milan Damborský, 2023. "Tax holidays and profit-repatriation rates for FDI firms: the case of the Czech Republic," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    57. Zhang, John Fan & Wang, Yang & Du, Qingjie, 2024. "The impact of cultural distance on fund transfers in the internal capital market," Journal of Banking & Finance, Elsevier, vol. 165(C).
    58. González, Francisco, 2020. "Creditor rights, financial health, and corporate investment efficiency," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    59. Massoud, Nadia & Nandy, Debarshi & Saunders, Anthony & Song, Keke, 2011. "Do hedge funds trade on private information? Evidence from syndicated lending and short-selling," Journal of Financial Economics, Elsevier, vol. 99(3), pages 477-499, March.
    60. Hao, Jie & Pham, Viet & Sánchez, Daniela & Sánchez, Juan Manuel, 2021. "Perceptions of corporate corruption culture and debt contracting," Journal of Corporate Finance, Elsevier, vol. 71(C).
    61. Jean Helwege & Jing-Zhi Huang & Yuan Wang, 2017. "Debt Covenants and Cross-Sectional Equity Returns," Management Science, INFORMS, vol. 63(6), pages 1835-1854, June.
    62. Xu Chong Bo & Wenyi Li & Jing Shi & Yi Zheng & Qing Zhou, 2021. "Relationship lending and bank loan covenant violations," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5847-5878, December.
    63. Song, Keke & Wang, Jun, 2023. "When banks become shareholder activists," Journal of Banking & Finance, Elsevier, vol. 153(C).
    64. Prilmeier, Robert, 2017. "Why do loans contain covenants? Evidence from lending relationships," Journal of Financial Economics, Elsevier, vol. 123(3), pages 558-579.
    65. Sabrina Álvarez Cuccia, 2020. "Analysis of the role of financial and operational diversification on the economic performance of Catalan construction businesses (2005-2016)," TEC Empresarial, School of Business, Costa Rica Institute of Technology (ITCR), vol. 14(1), pages 54-70.
    66. Hui Liang James & Hongxia Wang & Zhimin Wang, 2024. "Covenant violation and operational efficiency," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(2), pages 1879-1920, June.
    67. Devos, Erik & Rahman, Shofiqur & Tsang, Desmond, 2017. "Debt covenants and the speed of capital structure adjustment," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 1-18.
    68. Byrne, Julie & O’Connor, Thomas, 2012. "Creditor rights and the outcome model of dividends," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(2), pages 227-242.
    69. Yun Lou & Clemens A. Otto, 2020. "Debt Heterogeneity and Covenants," Management Science, INFORMS, vol. 66(1), pages 70-92, January.
    70. Berlin, Mitchell & Nini, Greg & Yu, Edison G., 2020. "Concentration of control rights in leveraged loan syndicates," Journal of Financial Economics, Elsevier, vol. 137(1), pages 249-271.
    71. Kariya, Ankitkumar, 2022. "Earnings-based borrowing constraints & corporate investments in 2007–2009 financial crisis," Journal of Corporate Finance, Elsevier, vol. 75(C).
    72. Ambrocio, Gene & Colak, Gonul & Hasan, Iftekhar, 2022. "Commitment or constraint? The effect of loan covenants on merger and acquisition activity," Finance Research Letters, Elsevier, vol. 47(PB).
    73. Ding, Hui & Liu, Chenguang & Ni, Xiaoran, 2023. "Creditor protection and labor investment efficiency: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PD).
    74. Lin, Chen & Ma, Yue & Malatesta, Paul & Xuan, Yuhai, 2011. "Ownership structure and the cost of corporate borrowing," Journal of Financial Economics, Elsevier, vol. 100(1), pages 1-23, April.
    75. Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    76. Akdoğu, Evrim & Paukowits, Aysun Alp & Celikyurt, Ugur, 2023. "Bondholder governance, takeover likelihood, and division of gains," Journal of Corporate Finance, Elsevier, vol. 79(C).
    77. Fang Sun & Fengyun Wu, 2023. "The Impact Of Debt Structure On Auditorchoice," Accounting & Taxation, The Institute for Business and Finance Research, vol. 15(2), pages 105-115.
    78. Roman, Raluca A., 2020. "Winners and losers from supervisory enforcement actions against banks," Journal of Corporate Finance, Elsevier, vol. 60(C).
    79. Erik P. Gilje & Elena Loutskina & Daniel Murphy, 2020. "Drilling and Debt," Journal of Finance, American Finance Association, vol. 75(3), pages 1287-1325, June.
    80. Demiroglu, Cem & James, Christopher, 2011. "The use of bank lines of credit in corporate liquidity management: A review of empirical evidence," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 775-782, April.
    81. Kisser, Michael & Rapushi, Loreta, 2022. "Equity issues, creditor control and market timing patterns: Evidence from leverage decreasing recapitalizations," Journal of Empirical Finance, Elsevier, vol. 67(C), pages 196-216.
    82. Naceur Essaddam & Miran Hossain & Tashfeen Hussain, 2023. "Do credit default swaps impact lenders’ monitoring of loans?," Review of Quantitative Finance and Accounting, Springer, vol. 61(2), pages 567-600, August.
    83. Chakraborty, Indraneel, 2010. "Investment and Financing under Reverse Asset Substitution," Working Papers 10-2, University of Pennsylvania, Wharton School, Weiss Center.
    84. Ni, Xiaoran & Xu, Jin & Yin, David, 2025. "Are enhanced creditor rights in bankruptcy desirable to shareholders? Evidence from the cost of equity capital," Journal of Banking & Finance, Elsevier, vol. 175(C).
    85. Wenlian Gao & Feifei Zhu & Kai Chen, 2023. "The role of bank lenders in firm leverage adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 63-97, February.
    86. Antonio Falato & J. Nellie Liang, 2012. "Do creditor rights increase employment risk? evidence from debt covenants," Finance and Economics Discussion Series 2012-42, Board of Governors of the Federal Reserve System (U.S.).
    87. Lim, Jesslyn & Do, Viet & Vu, Tram, 2020. "Co-opted directors, covenant intensity, and covenant violations," Journal of Corporate Finance, Elsevier, vol. 64(C).
    88. Ms. Rima A Turk, 2015. "Financial Decisions and Investment Outcomes in Developing Countries: The Role of Institutions," IMF Working Papers 2015/038, International Monetary Fund.
    89. Dean Hanlon, 2019. "Mandatory accounting change and debt covenant violation: Additional evidence from SFAS 150," Australian Journal of Management, Australian School of Business, vol. 44(3), pages 355-387, August.
    90. Gu, Xian & Kadiyala, Padma & Mahaney-Walter, Xin Wu, 2018. "How creditor rights affect the issuance of public debt: The role of credit ratings," Journal of Financial Stability, Elsevier, vol. 39(C), pages 133-143.
    91. Xia Chen & Qiang Cheng & Alvis K. Lo & Xin Wang, 2023. "CEO contractual protection and debt contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(9-10), pages 1671-1714, October.
    92. Massa, Massimo & Zhang, Lei, 2021. "Bank credit tightening, debt market frictions, and corporate yield spreads," Journal of Financial Markets, Elsevier, vol. 55(C).
    93. Colleen Honigsberg & Sharon P. Katz & Sunay Mutlu & Gil Sadka, 2021. "State contract law and the use of accounting information in debt contracts," Review of Accounting Studies, Springer, vol. 26(1), pages 124-171, March.
    94. Zhang, Zhipeng, 2009. "Recovery Rates and Macroeconomic Conditions: The Role of Loan Covenants," MPRA Paper 17521, University Library of Munich, Germany.
    95. Ray Ball & Xi Li & Lakshmanan Shivakumar, 2015. "Contractibility and Transparency of Financial Statement Information Prepared Under IFRS: Evidence from Debt Contracts Around IFRS Adoption," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 53(5), pages 915-963, December.
    96. Tahir Akhtar & Ameen Qasem & Shoaib Khan, 2025. "Internal corporate governance and cash holdings: the role of external governance mechanism," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 22(1), pages 1-27, March.
    97. King, Tao-Hsien Dolly & Wen, Min-Ming, 2011. "Shareholder governance, bondholder governance, and managerial risk-taking," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 512-531, March.
    98. Allen N. Berger & Tanakorn Makaew & Raluca Roman, 2015. "Did bank borrowers benefit from the TARP program : the effects of TARP on loan contract terms," Research Working Paper RWP 15-11, Federal Reserve Bank of Kansas City.
    99. Nuri Ersahin & Rustom M. Irani & Hanh Le, 2015. "Creditor Control Rights and Resource Allocation within Firms," Working Papers 15-39, Center for Economic Studies, U.S. Census Bureau.
    100. Thomas Ruchti & Andrew Bird & Stephen A. Karolyi & Michael Hertzel, 2024. "The Value of Lending Relationships," Working Papers 24-02, Office of Financial Research, US Department of the Treasury.
    101. Acharya, Viral & Amihud, Yakov & Litov, Lubomir P., 2008. "Creditor Rights and Corporate Risk-taking," CEPR Discussion Papers 6697, Centre for Economic Policy Research.
    102. Biguri, Kizkitza, 2023. "How Does Access to the Unsecured Debt Market Affect Investment?," Journal of Banking & Finance, Elsevier, vol. 152(C).
    103. Chu, Yongqiang & Liu, Ming & Ma, Tao & Li, Xinming, 2020. "Executive compensation and corporate risk-taking: Evidence from private loan contracts," Journal of Corporate Finance, Elsevier, vol. 64(C).
    104. Zahn Bozanic & Maria Loumioti & Florin P. Vasvari, 2018. "Corporate Loan Securitization and the Standardization of Financial Covenants," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(1), pages 45-83, March.
    105. Christopher S. Armstrong & John D. Kepler & Chongho Kim & David Tsui, 2025. "Creditor control rights and executive bonus plans," Review of Accounting Studies, Springer, vol. 30(3), pages 2724-2767, September.
    106. Müller, Karsten, 2022. "Busy bankruptcy courts and the cost of credit," Journal of Financial Economics, Elsevier, vol. 143(2), pages 824-845.
    107. Zhiming Ma & Derrald Stice & Christopher Williams, 2022. "What's my style? Supply‐side determinants of debt covenant inclusion," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(3-4), pages 461-490, March.
    108. Jae B. Kim & Pervin Shroff & Dushyantkumar Vyas & Regina Wittenberg‐Moerman, 2018. "Credit Default Swaps and Managers’ Voluntary Disclosure," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(3), pages 953-988, June.
    109. Beyhaghi, Mehdi & Nguyen, Ca & Wald, John K., 2019. "Institutional investors and loan dynamics: Evidence from loan renegotiations," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 482-505.
    110. Chy, Mahfuz & Kyung, Hoyoun, 2023. "The effect of bond market transparency on bank loan contracting," Journal of Accounting and Economics, Elsevier, vol. 75(2).
    111. Temimi, Akram & Zeitun, Rami & Mimouni, Karim, 2016. "How does the tax status of a country impact capital structure? Evidence from the GCC region," Journal of Multinational Financial Management, Elsevier, vol. 37, pages 71-89.
    112. Tatiana Škerlíková, 2014. "Analysis of the Capital Structure of Domestic Corporations Preceding a Bankruptcy [Rozbor kapitálové struktury tuzemských korporací před úpadkem]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(4), pages 70-83.
    113. Lins, Karl V. & Servaes, Henri & Tufano, Peter, 2010. "What drives corporate liquidity? An international survey of cash holdings and lines of credit," Journal of Financial Economics, Elsevier, vol. 98(1), pages 160-176, October.
    114. Hans B. Christensen & Valeri V. Nikolaev, 2017. "Contracting on GAAP Changes: Large Sample Evidence," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(5), pages 1021-1050, December.
    115. Chatterjee, Chandrani & Shroff, Arpita A. & Sivaramakrishnan, K., 2022. "Debt contracting and the goodwill debate," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(2).
    116. Herpfer, Christoph, 2021. "The role of bankers in the U.S. syndicated loan market," Journal of Accounting and Economics, Elsevier, vol. 71(2).
    117. De Novellis, G. & Musile Tanzi, P. & Stanghellini, E., 2024. "Covenant-lite agreement and credit risk: A key relationship in the leveraged loan market," Research in International Business and Finance, Elsevier, vol. 70(PB).
    118. Boyd, John & Hakenes, Hendrik & Heitz, Amanda, 2018. "The Effects of Creditor Rights and Bank Information Sharing on Borrower Behavior: Theory and Evidence," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181565, Verein für Socialpolitik / German Economic Association.
    119. Hasan, Md Mahmudul, 2025. "Private lenders and borrowers' internal control-related private information," Advances in accounting, Elsevier, vol. 68(C).
    120. Björn Imbierowicz & Daniel Streitz, 2024. "Financial debt contracting and managerial agency problems," Financial Management, Financial Management Association International, vol. 53(1), pages 99-118, March.
    121. Massa, Massimo & Žaldokas, Alminas, 2017. "Information transfers among co-owned firms," Journal of Financial Intermediation, Elsevier, vol. 31(C), pages 77-92.
    122. Michaely, Roni & Popadak, Jillian & Vincent, Christopher, 2015. "The Deleveraging of U.S. Firms and Institutional Investors’ Role," MPRA Paper 66128, University Library of Munich, Germany.
    123. Roberts, Michael R., 2015. "The role of dynamic renegotiation and asymmetric information in financial contracting," Journal of Financial Economics, Elsevier, vol. 116(1), pages 61-81.
    124. Sudheer Chava & Kershen Huang & Shane A. Johnson, 2018. "The Dynamics of Borrower Reputation Following Financial Misreporting," Management Science, INFORMS, vol. 64(10), pages 4775-4797, October.
    125. Liu, Chunbo & Xu, Liang & Yang, Haoyi & Zhang, Wenqiao, 2023. "Prosocial CEOs and the cost of debt: Evidence from syndicated loan contracts," Journal of Corporate Finance, Elsevier, vol. 78(C).
    126. Zhang, Shafu & Magnan, Michel & Qiu, Yetaotao & Zeng, Cheng Colin, 2022. "Do banks price production process failures? Evidence from product recalls," Journal of Banking & Finance, Elsevier, vol. 135(C).
    127. Daher, Mai, 2017. "Creditor control rights, capital structure, and legal enforcement," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 308-330.
    128. Kang, Di & Zhuang, Zhuang, 2019. "Should companies care who their lender is? Evidence from loan covenants," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    129. Marc Arnold & Ramona Westermann, 2023. "Debt Renegotiations Outside Distress," Review of Finance, European Finance Association, vol. 27(4), pages 1183-1228.
    130. Marc Arnold & Dirk Hackbarth & Tatjana Xenia Puhan, 2018. "Financing Asset Sales and Business Cycles [Does industry-wide distress affect defaulted firms? Evidence from creditor recoveries]," Review of Finance, European Finance Association, vol. 22(1), pages 243-277.
    131. Freudenberg, Felix & Imbierowicz, Björn & Saunders, Anthony & Steffen, Sascha, 2017. "Covenant violations and dynamic loan contracting," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 540-565.
    132. Daher, Mai M. & Ismail, Ahmad K., 2018. "Debt covenants and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 174-201.
    133. Beatriz Mariano & Josep Tribó Giné, 2015. "Creditor Intervention, Investment, and Growth Opportunities," Journal of Financial Services Research, Springer;Western Finance Association, vol. 47(2), pages 203-228, April.
    134. Avramov, Doron & Chordia, Tarun & Jostova, Gergana & Philipov, Alexander, 2013. "Anomalies and financial distress," Journal of Financial Economics, Elsevier, vol. 108(1), pages 139-159.
    135. Gustafson, Matthew T. & Ivanov, Ivan T. & Meisenzahl, Ralf R., 2021. "Bank monitoring: Evidence from syndicated loans," Journal of Financial Economics, Elsevier, vol. 139(2), pages 452-477.
    136. Sugato Chakravarty & Chiraphol N. Chiyachantana & Christine Jiang, 2011. "The Choice Of Trading Venue And Relative Price Impact Of Institutional Trading: Adrs Versus The Underlying Securities In Their Local Markets," Working Papers 1011, Purdue University, Department of Consumer Sciences.
    137. Bienz, Carsten & Faure-Grimaud, Antoine & Fluck, Zsuzsanna, 2011. "Defeasance of control rights," LSE Research Online Documents on Economics 119069, London School of Economics and Political Science, LSE Library.
    138. Pryshchepa, Oksana & Aretz, Kevin & Banerjee, Shantanu, 2013. "Can investors restrict managerial behavior in distressed firms?," Journal of Corporate Finance, Elsevier, vol. 23(C), pages 222-239.
    139. Xiaoqi Sheng & Jun Shao, 2026. "Information Quality and Corporate Digital Innovation: Evidence from China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 17(2), pages 3820-3851, April.
    140. Bill B. Francis & Ning Ren & Xian Sun & Qiang Wu, 2024. "Do Better Managers Get Better Loan Contracts?," Abacus, Accounting Foundation, University of Sydney, vol. 60(3), pages 539-577, September.
    141. Yiwei Dou, 2020. "The Debt-Contracting Value of Accounting Numbers and Financial Covenant Renegotiation," Management Science, INFORMS, vol. 66(3), pages 1124-1148, March.
    142. Cho, Seong-Soon & El Ghoul, Sadok & Guedhami, Omrane & Suh, Jungwon, 2014. "Creditor rights and capital structure: Evidence from international data," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 40-60.
    143. Omri Even-Tov & Xinlei Li & Hui Wang & Christopher Williams, 2024. "The importance of individual-pair lending relationships," Review of Accounting Studies, Springer, vol. 29(4), pages 3907-3945, December.
    144. Joel F. Houston & Liangliang Jiang & Chen Lin & Yue Ma, 2014. "Political Connections and the Cost of Bank Loans," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 52(1), pages 193-243, March.
    145. Saiying Deng & Yutao Li, 2023. "Creditor control rights and borrower protection: the role of borrower consent clause in private debt contracts," Review of Quantitative Finance and Accounting, Springer, vol. 61(1), pages 357-394, July.
    146. Chao‐Jung Chen & Wen He & Chien‐Ju Lu & Xin Yu, 2022. "Bank loan covenants, accrual quality and firms’ information environment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 547-575, March.
    147. Isin, Adnan Anil, 2018. "Tax avoidance and cost of debt: The case for loan-specific risk mitigation and public debt financing," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 344-378.
    148. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Decline of Secured Debt," NBER Working Papers 26637, National Bureau of Economic Research, Inc.
    149. Demiroglu, Cem & James, Christopher M., 2010. "The role of private equity group reputation in LBO financing," Journal of Financial Economics, Elsevier, vol. 96(2), pages 306-330, May.
    150. Nishant Dass & Vikram Nanda & Qinghai Wang, 2020. "Within‐syndicate conflicts, loan covenants, and syndicate formation," Financial Management, Financial Management Association International, vol. 49(2), pages 547-583, June.
    151. Daniel Bens & Sterling Huang & Liang Tan & Wan Wongsunwai, 2020. "Contracting and Reporting Conservatism around a Change in Fiduciary Duties," Contemporary Accounting Research, John Wiley & Sons, vol. 37(4), pages 2472-2500, December.
    152. Chen, Zhanhui & Huang, Xiaoran & Zhang, Lei, 2022. "Local gender imbalance and corporate risk-taking," Journal of Economic Behavior & Organization, Elsevier, vol. 198(C), pages 650-672.
    153. Theophilus Lartey & Albert Danso, 2022. "CEO overconfidence and debt covenant violations," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(1), pages 162-199, March.
    154. Banker, Rajiv D. & Basu, Sudipta & Byzalov, Dmitri & Chen, Janice Y.S., 2016. "The confounding effect of cost stickiness on conservatism estimates," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 203-220.
    155. Lin, Luca Xianran, 2022. "Great Trees are Good for Shade: Creditor Monitoring Under Common Ownership," Finance Research Letters, Elsevier, vol. 44(C).
    156. Peter Demerjian & John Donovan & Melissa F. Lewis‐Western, 2020. "Income Smoothing and the Usefulness of Earnings for Monitoring in Debt Contracting," Contemporary Accounting Research, John Wiley & Sons, vol. 37(2), pages 857-884, June.
    157. Hilary, Gilles & Hsu, Charles & Segal, Benjamin & Wang, Rencheng, 2016. "The bright side of managerial over-optimism," Journal of Accounting and Economics, Elsevier, vol. 62(1), pages 46-64.
    158. Chakraborty, Indraneel & Gantchev, Nickolay, 2013. "Does shareholder coordination matter? Evidence from private placements," Journal of Financial Economics, Elsevier, vol. 108(1), pages 213-230.
    159. Flavio Bazzana & Anna Zadorozhnaya & Roberto Gabriele, 2014. "The role of covenants in bond issue and investment policy. The case of Russian companies," DEM Discussion Papers 2014/05, Department of Economics and Management.
    160. Yang, Daniel G., 2025. "Foreign bank branch participation and U.S. syndicated loan contract design," Journal of Accounting and Economics, Elsevier, vol. 79(1).
    161. Eunkyung Lee, 2023. "The Transmission of Monetary Policy to Corporate Investment: The Role of Loan Renegotiation," Economics Discussion Paper Series 2310, Economics, The University of Manchester.
    162. Kirak Kim & Trang Nguyen, 2024. "Debt Contracting When Borrowers Face Transitory Uncertainty: Evidence from U.S. Gubernatorial Elections," Management Science, INFORMS, vol. 70(7), pages 4670-4692, July.
    163. Yun Fan & Wayne B. Thomas & Xiaoou Yu, 2019. "The Impact of Financial Covenants in Private Loan Contracts on Classification Shifting," Management Science, INFORMS, vol. 65(8), pages 3637-3653, August.
    164. Simpson, Marc W. & Grossmann, Axel, 2017. "The value of restrictive covenants in the changing bond market dynamics before and after the financial crisis," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 307-319.
    165. Gao, Peng & He, Ling & Hu, Shiyang & Xin, Qingquan, 2024. "Double-edged sword: Does strong creditor protection in the bankruptcy process affect firm productivity," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    166. Ivan T. Ivanov & Ben Ranish & James Wang, 2023. "Banks' Strategic Responses to Supervisory Coverage: Evidence from a Natural Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 503-530, March.
    167. Baker, H. Kent & Rjiba, Hatem & Saadi, Samir & Sassi, Syrine, 2024. "Does litigation risk matter for the choice between bank debt and public debt?," Journal of Corporate Finance, Elsevier, vol. 89(C).
    168. Yildirim, Alev, 2020. "The effect of relationship banking on firm efficiency and default risk," Journal of Corporate Finance, Elsevier, vol. 65(C).
    169. Zhang, Zhipeng, 2009. "Who Pulls the Plug? Theory and Evidence on Corporate Bankruptcy Decisions," MPRA Paper 17676, University Library of Munich, Germany, revised 05 Oct 2009.
    170. Yung, Kenneth & Nafar, Nadia A., 2014. "Creditor rights and corporate cash holdings: International evidence," International Review of Economics & Finance, Elsevier, vol. 33(C), pages 111-127.
    171. Beyhaghi, Mehdi & Massoud, Nadia & Saunders, Anthony, 2017. "Why and how do banks lay off credit risk? The choice between retention, loan sales and credit default swaps," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 335-355.
    172. Gu, Yuqi & Ouyang, Bo, 2024. "Debt covenant violations and corporate cost management," Advances in accounting, Elsevier, vol. 65(C).
    173. Henrique Castro Martins, 2020. "The Brazilian bankruptcy law reform, corporate ownership concentration, and risk‐taking," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(4), pages 562-573, June.
    174. Lee, Edward & Pappas, Kostas & Xu, Alice Liang, 2020. "Foreign Lenders’ adoption of performance pricing provisions in syndicated loans," Journal of Banking & Finance, Elsevier, vol. 118(C).
    175. Bazzana, Flavio & Zadorozhnaya, Anna & Gabriele, Roberto, 2018. "The role of covenants in bond issue. The case of Russian companies," Emerging Markets Review, Elsevier, vol. 36(C), pages 1-18.
    176. Baylis, Richard M. & Burnap, Peter & Clatworthy, Mark A. & Gad, Mahmoud A. & Pong, Christopher K.M., 2017. "Private lenders’ demand for audit," Journal of Accounting and Economics, Elsevier, vol. 64(1), pages 78-97.
    177. Almeida, Heitor & Campello, Murillo & Weisbach, Michael S., 2008. "Corporate Financial and Investment Policies When Future Financing Is Not Frictionless," Working Paper Series 2008-16, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    178. Mitchell Berlin & Gregory P. Nini & Edison Yu, 2017. "Concentration of Control Rights in Leveraged Loan Syndicates," Working Papers 17-22, Federal Reserve Bank of Philadelphia.
    179. Viral V. Acharya & Heitor Almeida & Filippo Ippolito & Ander Perez‐Orive, 2021. "Credit Lines and the Liquidity Insurance Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 901-938, August.
    180. Fang, Hongyan & Song, Zhihui & Nofsinger, John R. & Wang, Yuyue, 2017. "Trading restrictions and firm dividends: The share lockup expiration experience in China," Journal of Banking & Finance, Elsevier, vol. 85(C), pages 83-98.
    181. Hu, Shiyang & Li, Xiao & Tian, Gary Gang & Zhao, Jianyu, 2024. "From debt breaches to employee safety: The hidden power of banking interventions," The British Accounting Review, Elsevier, vol. 56(6).
    182. Albanez, Tatiana & Schiozer, Rafael, 2022. "The signaling role of covenants and the speed of capital structure adjustment under poor creditor rights: Evidence from domestically and cross-listed firms in Brazil," Journal of Multinational Financial Management, Elsevier, vol. 63(C).
    183. Liu, Yini & Nguyen, Ca, 2023. "The role of financial covenants in pricing private investments in public equity," Journal of Corporate Finance, Elsevier, vol. 82(C).
    184. Ferreira, Daniel & Ferreira, Miguel & Mariano, Beatriz, 2017. "Creditor Control Rights and Board Independence," CEPR Discussion Papers 11870, Centre for Economic Policy Research.
    185. David De Angelis & S. Abraham Ravid, 2017. "Input Hedging, Output Hedging, and Market Power," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(1), pages 123-151, February.
    186. Duran, Miguel A., 2017. "Pricing and usage: An empirical analysis of lines of credit," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 50(C), pages 219-234.
    187. Acharya, Viral & Subramanian, Krishnamurthy, 2007. "Bankruptcy Codes and Innovation," CEPR Discussion Papers 6307, Centre for Economic Policy Research.
    188. Miguel A. Duran, 2024. "The Risk-Return Relation in the Corporate Loan Market," Papers 2401.12315, arXiv.org.
    189. Arnold, Marc & Westermann, Ramona, 2015. "The Value of Creditor Governance: Debt Renegotiations In and Outside Distress," Working Papers on Finance 1514, University of St. Gallen, School of Finance, revised Jul 2016.
    190. Aiyesha Dey & Valeri Nikolaev & Xue Wang, 2016. "Disproportional Control Rights and the Governance Role of Debt," Management Science, INFORMS, vol. 62(9), pages 2581-2614, September.
    191. Ma, Yueran & Shleifer, Andrei, 2025. "The invention of corporate governance," Journal of Financial Economics, Elsevier, vol. 172(C).
    192. Hans B. Christensen & Valeri V. Nikolaev, 2012. "Capital Versus Performance Covenants in Debt Contracts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 50(1), pages 75-116, March.
    193. C. Fee & Joshua Pierce & Hoontaek Seo & Shan Yan, 2014. "Bank Debt, Flexibility, and the Use of Proceeds from Asset Sales," Journal of Financial Services Research, Springer;Western Finance Association, vol. 46(1), pages 77-97, August.
    194. Roberts, Michael R. & Sufi, Amir, 2009. "Renegotiation of financial contracts: Evidence from private credit agreements," Journal of Financial Economics, Elsevier, vol. 93(2), pages 159-184, August.
    195. Chen, Hsuan-Chi & Chou, Robin K. & Lin, Chih-Yung & Lu, Chien-Lin, 2022. "Bank loans during the 2008 quantitative easing," Journal of Financial Stability, Elsevier, vol. 59(C).
    196. Bruce Seifert & Olubunmi Faleye & Halit Gonenc, 2012. "Creditor Rights, Country Governance, and Corporate Cash Holdings," Koç University-TUSIAD Economic Research Forum Working Papers 1214, Koc University-TUSIAD Economic Research Forum.
    197. Ni, Xiaoran & Yin, David, 2023. "Is institutional common ownership commonly priced? Insights from the cost of equity capital," Journal of Banking & Finance, Elsevier, vol. 155(C).
    198. Dan A. Iancu & Nikolaos Trichakis & Gerry Tsoukalas, 2017. "Is Operating Flexibility Harmful Under Debt?," Management Science, INFORMS, vol. 63(6), pages 1730-1761, June.
    199. Denis, David J. & Wang, Jing, 2014. "Debt covenant renegotiations and creditor control rights," Journal of Financial Economics, Elsevier, vol. 113(3), pages 348-367.
    200. Hong Zou, 2010. "Hedging Affecting Firm Value via Financing and Investment: Evidence from Property Insurance Use," Financial Management, Financial Management Association International, vol. 39(3), pages 965-996, September.
    201. Thomas O'Connor & Julie Byrne, 2012. "Shareholder and creditor legal rights and the outcome model of dividends," Economics Department Working Paper Series n225-12.pdf, Department of Economics, National University of Ireland - Maynooth.
    202. Daniel Saavedra, 2023. "Do firms follow the SEC’s confidential treatment protocols? Evidence from credit agreements," Review of Accounting Studies, Springer, vol. 28(3), pages 1388-1412, September.
    203. Wu, Wei-Shao & Fok, Robert C.W. & Chang, Yuanchen & Chen, Chao-Jung, 2022. "Credit default swaps and corporate performance smoothing," Journal of Corporate Finance, Elsevier, vol. 75(C).
    204. Anh Ngo & Hong Duong & Anthony Chen, 2016. "The Effects of Covenant Violations on the Underpricing of Seasoned Equity Offerings and the Implied Cost of Equity Capital," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 6(01), pages 1-33, March.
    205. Anne Beatty & Lin Cheng & Tzachi Zach, 2019. "Nonrecurring Items in Debt Contracts," Contemporary Accounting Research, John Wiley & Sons, vol. 36(1), pages 139-167, March.
    206. Atay Kizilaslan & Ani Manakyan Mathers, 2014. "Strategic Credit Line Usage And Performance," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 37(2), pages 243-265, June.
    207. Ma, Zhiming & Stice, Derrald & Williams, Christopher, 2019. "The effect of bank monitoring on public bond terms," Journal of Financial Economics, Elsevier, vol. 133(2), pages 379-396.
    208. Souad Chaieb, 2021. "The Impact of Cash Holding on Debt Cost," International Journal of Economics and Financial Issues, Econjournals, vol. 11(6), pages 75-93.
    209. Waisman, Maya, 2013. "Product market competition and the cost of bank loans: Evidence from state antitakeover laws," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4721-4737.
    210. Wayne R. Landsman & Chao Kevin Li & Jianxin Donny Zhao, 2023. "CDS Trading Initiation, Information Asymmetry, and Dividend Payout," Management Science, INFORMS, vol. 69(1), pages 684-701, January.
    211. Ningzhong Li, 2016. "Performance Measures in Earnings‐Based Financial Covenants in Debt Contracts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 54(4), pages 1149-1186, September.
    212. Paul A. Griffin & David H. Lont & Kurt Purdon, 2021. "Stock and Bond Return Comovement as a Different Way to Assess Information Content: The Case of Debt Covenant Violation Disclosures," Abacus, Accounting Foundation, University of Sydney, vol. 57(1), pages 101-125, March.
    213. Steven A. Sharpe & Gustavo A. Suarez, 2021. "Why Isn’t Business Investment More Sensitive to Interest Rates? Evidence from Surveys," Management Science, INFORMS, vol. 67(2), pages 720-741, February.
    214. Ersahin, Nuri & Irani, Rustom M. & Le, Hanh, 2021. "Creditor control rights and resource allocation within firms," Journal of Financial Economics, Elsevier, vol. 139(1), pages 186-208.
    215. Ruhnke, Carsten S., 2022. "Implications of the Creditors' Influence on Corporate Decisions," Junior Management Science (JUMS), Junior Management Science e. V., vol. 7(1), pages 150-184.
    216. Massa, Massimo & Zhang, Lei, 2015. "Bank Credit Tightening, Debt Market Frictions and Corporate Yield Spreads," CEPR Discussion Papers 10537, Centre for Economic Policy Research.
    217. Clark, Brian & Donato, James & Francis, Bill B & Shohfi, Thomas D, 2023. "Bank loan renegotiation and credit default swaps," Journal of Banking & Finance, Elsevier, vol. 151(C).
    218. Liangliang Jiang & Yi Zhu, 2014. "Effects of Foreign Institutional Ownership on Foreign Bank Lending: Some Evidence for Emerging Markets," International Review of Finance, International Review of Finance Ltd., vol. 14(2), pages 263-293, June.
    219. Jan P. Voon & Chen Lin & Yiu. C. Ma, 2022. "Managerial overconfidence and bank loan covenant usage," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4575-4598, October.
    220. Lont, David & Griffin, Paul & McClune, Kate, 2011. "Insightful Insiders? Insider Trading and Stock Return Around Debt Covenant Violation Disclosures," Working Paper Series 19194, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    221. Intan Suryani Abu Bakar & Arifur Khan & Paul Mather & George Tanewski, 2020. "Board monitoring and covenant restrictiveness in private debt contracts during the global financial crisis," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(S1), pages 661-692, April.
    222. Vikas Mehrotra & Randall Morck, 2017. "Governance and Stakeholders," NBER Working Papers 23460, National Bureau of Economic Research, Inc.
    223. Donaldson, Jason Roderick & Gromb, Denis & Piacentino, Giorgia, 2020. "The paradox of pledgeability," Journal of Financial Economics, Elsevier, vol. 137(3), pages 591-605.
    224. Koussis, Nicos & Martzoukos, Spiros H., 2022. "Credit line pricing under heterogeneous risk beliefs," International Journal of Production Economics, Elsevier, vol. 243(C).
    225. Brian Akins & David De Angelis & Maclean Gaulin, 2020. "Debt Contracting on Management," Journal of Finance, American Finance Association, vol. 75(4), pages 2095-2137, August.
    226. Bernard, Darren & Blackburne, Terrence & Thornock, Jacob, 2020. "Information flows among rivals and corporate investment," Journal of Financial Economics, Elsevier, vol. 136(3), pages 760-779.
    227. Colleen Honigsberg & Sharon Katz & Gil Sadka, 2014. "State Contract Law and Debt Contracts," Journal of Law and Economics, University of Chicago Press, vol. 57(4), pages 1031-1061.
    228. Renjie, Rex Wang & Verwijmeren, Patrick & Xia, Shuo, 2022. "Corporate governance benefits of mutual fund cooperation," IWH Discussion Papers 21/2022, Halle Institute for Economic Research (IWH).
    229. Akhtar Tahir, 2022. "Corporate governance, excess-cash and firm value: Evidence from ASEAN-5," Economics and Business Review, Sciendo, vol. 8(4), pages 39-67, December.
    230. Billett, Matthew T. & Esmer, Burcu & Yu, Miaomiao, 2018. "Creditor control and product-market competition," Journal of Banking & Finance, Elsevier, vol. 86(C), pages 87-100.
    231. Srivastava, Aaraadhya, 2025. "Creditor rights and innovation: evidence from a quasi-natural experiment," Journal of Contemporary Accounting and Economics, Elsevier, vol. 21(3).

  14. Michael R. Roberts & Amir Sufi, 2009. "Financial Contracting: A Survey of Empirical Research and Future Directions," Annual Review of Financial Economics, Annual Reviews, vol. 1(1), pages 207-226, November.

    Cited by:

    1. Choy, Stacey & Jiang, Shushu & Liao, Scott & Wang, Emma, 2024. "Public environmental enforcement and private lender monitoring: Evidence from environmental covenants," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    2. Blouin, Arthur & Macchiavello, Rocco, 2018. "Strategic Default in the International Coffee Market," CAGE Online Working Paper Series 369, Competitive Advantage in the Global Economy (CAGE).
    3. Costello, Anna M., 2013. "Mitigating incentive conflicts in inter-firm relationships: Evidence from long-term supply contracts," Journal of Accounting and Economics, Elsevier, vol. 56(1), pages 19-39.
    4. Dan Amiram & Edward Owens, 2024. "Accounting-based expected loss given default and debt contract design," Review of Accounting Studies, Springer, vol. 29(3), pages 2437-2467, September.
    5. Choi, Daewoung & Lee, Jinsook & Yi, Ha-Chin, 2023. "Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R," Finance Research Letters, Elsevier, vol. 58(PB).
    6. Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
    7. Meradj Morteza Pouraghdam, 2016. "Three essays on the role of frictions in the economy [Trois essais sur le rôle du désaccord en économie]," Sciences Po Economics Publications (main) tel-03498781, HAL.
    8. Michael R. Roberts & Michael Schwert, 2020. "Interest Rates and the Design of Financial Contracts," NBER Working Papers 27195, National Bureau of Economic Research, Inc.
    9. Manuel Coutinho Pereira & Lara Wemans, 2022. "Characteristics of parties and duration of insolvency cases in Portugal," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    10. Bolton, Patrick & Avdjiev, Stefan & Bogdanova, Bilyana & Jiang, Wei & Kartasheva, Anastasia, 2017. "CoCo Issuance and Bank Fragility," CEPR Discussion Papers 12418, Centre for Economic Policy Research.
    11. Amiraslani, Hami & Donovan, John & Phillips, Matthew A. & Wittenberg-Moerman, Regina, 2023. "Contracting in the Dark: The rise of public-side lenders in the syndicated loan market," Journal of Accounting and Economics, Elsevier, vol. 76(1).
    12. Tan, Liang, 2013. "Creditor control rights, state of nature verification, and financial reporting conservatism," Journal of Accounting and Economics, Elsevier, vol. 55(1), pages 1-22.
    13. Wang, Shengbin & Zheng, Jiafeng & Tu, Yongqian, 2023. "The Communist Party of China embedded in corporate governance and enterprise value: Evidence from state-owned enterprises," Finance Research Letters, Elsevier, vol. 54(C).
    14. Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    15. Gicoamo Rodano & Nicolas Serrano-Velarde & Emanuele Tarantino, 2015. "Bankruptcy law and bank financing," Temi di discussione (Economic working papers) 1013, Bank of Italy, Economic Research and International Relations Area.
    16. O’Connor, Neale G. & Vera-Muñoz, Sandra C. & Chan, Francis, 2011. "Competitive forces and the importance of management control systems in emerging-economy firms: The moderating effect of international market orientation," Accounting, Organizations and Society, Elsevier, vol. 36(4), pages 246-266.
    17. Zhang, Zhipeng, 2009. "Recovery Rates and Macroeconomic Conditions: The Role of Loan Covenants," MPRA Paper 17521, University Library of Munich, Germany.
    18. John R. Birge & Rodney P. Parker & Michelle Xiao Wu & S. Alex Yang, 2017. "When Customers Anticipate Liquidation Sales: Managing Operations Under Financial Distress," Manufacturing & Service Operations Management, INFORMS, vol. 19(4), pages 657-673, October.
    19. Bengtsson, Ola & Dai, Na & Henson, Clifford, 2014. "SEC enforcement in the PIPE market: Actions and consequences," Journal of Banking & Finance, Elsevier, vol. 42(C), pages 213-231.
    20. Nuri Ersahin & Rustom M. Irani & Hanh Le, 2015. "Creditor Control Rights and Resource Allocation within Firms," Working Papers 15-39, Center for Economic Studies, U.S. Census Bureau.
    21. Chen, Jie & De Cesari, Amedeo & Hill, Paula & Ozkan, Neslihan, 2018. "Initial compensation contracts for new executives and financial distress risk: An empirical investigation of UK firms," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 292-313.
    22. Chy, Mahfuz & Kyung, Hoyoun, 2023. "The effect of bond market transparency on bank loan contracting," Journal of Accounting and Economics, Elsevier, vol. 75(2).
    23. Anna Bergman Brown, 2016. "Institutional Differences and International Private Debt Markets: A Test Using Mandatory IFRS Adoption," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 54(3), pages 679-723, June.
    24. Rustom M. Irani & Ralf R. Meisenzahl, 2015. "Loan Sales and Bank Liquidity Risk Management: Evidence from a U.S. Credit Register," Finance and Economics Discussion Series 2015-1, Board of Governors of the Federal Reserve System (U.S.).
    25. Xavier Giroud & Holger M. Mueller & Alex Stomper & Arne Westerkamp, 2010. "Snow and Leverage," NBER Working Papers 16497, National Bureau of Economic Research, Inc.
    26. Isin, Adnan Anil, 2018. "Tax avoidance and cost of debt: The case for loan-specific risk mitigation and public debt financing," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 344-378.
    27. Nishant Dass & Vikram Nanda & Qinghai Wang, 2020. "Within‐syndicate conflicts, loan covenants, and syndicate formation," Financial Management, Financial Management Association International, vol. 49(2), pages 547-583, June.
    28. Fabio Schiantarelli & Massimiliano Stacchini & Philip E. Strahan, 2020. "Bank Quality, Judicial Efficiency, and Loan Repayment Delays in Italy," Journal of Finance, American Finance Association, vol. 75(4), pages 2139-2178, August.
    29. Naveed Chehrazi & Peter W. Glynn & Thomas A. Weber, 2019. "Dynamic Credit-Collections Optimization," Management Science, INFORMS, vol. 67(6), pages 2737-2769, June.
    30. Baylis, Richard M. & Burnap, Peter & Clatworthy, Mark A. & Gad, Mahmoud A. & Pong, Christopher K.M., 2017. "Private lenders’ demand for audit," Journal of Accounting and Economics, Elsevier, vol. 64(1), pages 78-97.
    31. Fabio Schiantarelli & Massimiliano Stacchini & Philip Strahan, 2016. "Bank quality, judicial efficiency and borrower runs: loan repayment delays in Italy," Temi di discussione (Economic working papers) 1072, Bank of Italy, Economic Research and International Relations Area.
    32. Haotian Xiang, 2019. "Time Inconsistency and Financial Covenants," 2019 Meeting Papers 63, Society for Economic Dynamics.
    33. Victor Arshavskiy, 2016. "Design of Debt Covenants and Loan Market Conditions," BEROC Working Paper Series 37, Belarusian Economic Research and Outreach Center (BEROC).
    34. Peter R. Demerjian, 2017. "Uncertainty and debt covenants," Review of Accounting Studies, Springer, vol. 22(3), pages 1156-1197, September.
    35. John S. Howe & Chris Tamm, 2012. "Financial Contracting and Warrant Structure: Unit IPOs vs. Chapter 11 Reorganizations," Accounting and Finance Research, Sciedu Press, vol. 1(2), pages 1-66, November.
    36. Das, Sanjiv R. & Kim, Seoyoung, 2015. "Credit spreads with dynamic debt," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 121-140.

  15. Amir Sufi, 2009. "The Real Effects of Debt Certification: Evidence from the Introduction of Bank Loan Ratings," The Review of Financial Studies, Society for Financial Studies, vol. 22(4), pages 1659-1691, April.

    Cited by:

    1. Yushu Zhu & Jennifer Gippel & Kathy Walsh, 2017. "Informed trading on debt covenant violations: the long and short of it," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(1), pages 289-315, March.
    2. Akbar, Saeed & Rehman, Shafiq ur & Liu, Jia & Shah, Syed Zulfiqar Ali, 2017. "Credit supply constraints and financial policies of listed companies during the 2007–2009 financial crisis," Research in International Business and Finance, Elsevier, vol. 42(C), pages 559-571.
    3. Akdoğu, Evrim & Alp Paukowits, Aysun, 2022. "Supply of credit and corporate bond covenants," Journal of Corporate Finance, Elsevier, vol. 72(C).
    4. Demiroglu, Cem & James, Christopher & Velioglu, Guner, 2022. "Why are commercial loan rates so sticky? The effect of private information on loan spreads," Journal of Financial Economics, Elsevier, vol. 143(2), pages 959-972.
    5. Stanton, Christopher & Thomas, Catherine, 2016. "Landing the first job: the value of intermediaries in online hiring," LSE Research Online Documents on Economics 65160, London School of Economics and Political Science, LSE Library.
    6. Gregor Matvos, 2013. "Estimating the Benefits of Contractual Completeness," The Review of Financial Studies, Society for Financial Studies, vol. 26(11), pages 2798-2844.
    7. Bellucci, Andrea & Pennacchio, Luca & Zazzaro, Alberto, 2023. "Debt financing of SMEs: The certification role of R&D Subsidies," International Review of Financial Analysis, Elsevier, vol. 90(C).
    8. Do, Hung X. & Nguyen, Nhut H. & Nguyen, Quan M.P., 2022. "Financial leverage and stock return comovement," Journal of Financial Markets, Elsevier, vol. 60(C).
    9. Po‐Hsin Ho & Chih‐Yung Lin & Tse‐Chun Lin, 2022. "Equity Short Selling and the Bank Loan Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 349-379, March.
    10. Iftekhar Hasan & Suk-Joong Kim & Panagiotis N. Politsidis & Eliza Wu, 2021. "Loan syndication under Basel II: How do firm credit ratings affect the cost of credit?," Post-Print hal-03166653, HAL.
    11. Kevin X. D. Huang & Zhe Li & Jianfei Sun, 2021. "Lending Competition And Loan Sales: A Macroeconomic Analysis Under Directed Search," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 648-661, April.
    12. Gopalan, Yadav, 2022. "The effects of ratings disclosure by bank regulators," Journal of Accounting and Economics, Elsevier, vol. 73(1).
    13. Kevin x.d. Huang & Zhe Li & Jianfei Sun, 2018. "Bank Competition, Directed Search, and Loan Sales," Vanderbilt University Department of Economics Working Papers 18-00001, Vanderbilt University Department of Economics.
    14. Li, Xiaoyang & Lin, Shannon & Tucker, Alan L., 2016. "The curious case of converts," Global Finance Journal, Elsevier, vol. 31(C), pages 1-17.
    15. Tobias Berg & Daniel Streitz & Michael Wedow, 2015. "Real Effects of Securitization," BAFFI CAREFIN Working Papers 1514, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    16. Tang, Tony T., 2009. "Information asymmetry and firms' credit market access: Evidence from Moody's credit rating format refinement," Journal of Financial Economics, Elsevier, vol. 93(2), pages 325-351, August.
    17. Oesch, David & Schuette, Dustin & Walter, Ingo, 2014. "Real Effects of Investment Banking Relationships: Evidence from the Financial Crisis," Working Papers on Finance 1405, University of St. Gallen, School of Finance, revised Aug 2015.
    18. To, Thomas Y. & Wu, Eliza & Zhang, Lambert, 2022. "Mind the sovereign ceiling on corporate performance," Journal of Corporate Finance, Elsevier, vol. 75(C).
    19. Jinyang Li & Jenny Jing Wang & Minggui Yu, 2023. "Government provided rating, alleviation of financial constraints, and corporate investment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 3763-3779, December.
    20. Eleimon Gonis & Salima Paul & Jon Tucker, 2012. "Rating or no rating? That is the question: an empirical examination of UK companies," The European Journal of Finance, Taylor & Francis Journals, vol. 18(8), pages 709-735, September.
    21. Krishnan, Kaveri & Mukherji, Arnab & Basu, Sankarshan, 2020. "Market responses to increased transparency: An Indian narrative," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 663-677.
    22. Andrea Bellucci & Luca Pennacchio & Alberto Zazzaro, 2019. "R&D Subsidies and Firms’ Debt Financing," CSEF Working Papers 527, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    23. Berg, Tobias & Reisinger, Markus & Streitz, Daniel, 2021. "Spillover effects in empirical corporate finance," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1109-1127.
    24. Karampatsas, Nikolaos & Petmezas, Dimitris & Travlos, Nickolaos G., 2014. "Credit ratings and the choice of payment method in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 474-493.
    25. Ivashina, Victoria & Scharfstein, David, 2010. "Bank lending during the financial crisis of 2008," Journal of Financial Economics, Elsevier, vol. 97(3), pages 319-338, September.
    26. Bris, Arturo & Koskinen, Yrjö & Nilsson, Mattias, 2014. "The euro and corporate financing before the crisis," Journal of Financial Economics, Elsevier, vol. 114(3), pages 554-575.
    27. Bosch, Oliver & Steffen, Sascha, 2011. "On syndicate composition, corporate structure and the certification effect of credit ratings," Journal of Banking & Finance, Elsevier, vol. 35(2), pages 290-299, February.
    28. Mohammed Saharti & Sajid M. Chaudhry & Nisar Ahmad & Syed Mujahid Hussain, 2024. "Syndicated loans: mapping the trends, sources and intellectual evolution," Review of Quantitative Finance and Accounting, Springer, vol. 62(4), pages 1569-1592, May.
    29. Aktas, Nihat & Petmezas, Dimitris & Servaes, Henri & Karampatsas, Nikolaos, 2021. "Credit ratings and acquisitions," Journal of Corporate Finance, Elsevier, vol. 69(C).
    30. Qingbo Yuan & Yunyan Zhang & Steven Cahan, 2016. "The real effects of corporate fraud: evidence from class action lawsuits," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 56(3), pages 879-911, September.
    31. Ming Li & Zilong Song & Xu Sun & Yumiao Yu, 2025. "Can digital transformation decrease the debt concentration?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 65(3), pages 2213-2243, September.
    32. Klaus-Michael Menz, 2010. "Corporate Social Responsibility: Is it Rewarded by the Corporate Bond Market? A Critical Note," Journal of Business Ethics, Springer, vol. 96(1), pages 117-134, September.
    33. Kose John & S. Abraham Ravid & Natalia Reisel, 2010. "The Notching Rule for Subordinated Debt and the Information Content of Debt Rating," Financial Management, Financial Management Association International, vol. 39(2), pages 489-513, June.
    34. Chakraborty, Indraneel & Goldstein, Itay & MacKinlay, Andrew, 2020. "Monetary stimulus and bank lending," Journal of Financial Economics, Elsevier, vol. 136(1), pages 189-218.
    35. Custódio, Cláudia & Ferreira, Miguel A. & Laureano, Luís, 2013. "Why are US firms using more short-term debt?," Journal of Financial Economics, Elsevier, vol. 108(1), pages 182-212.
    36. Cuadros-Solas, Pedro Jesús & Salvador Muñoz, Carlos, 2022. "Disentangling the sources of sovereign rating adjustments: An examination of changes in rating policies following the GFC," Research in International Business and Finance, Elsevier, vol. 59(C).
    37. Ivanov, Ivan T. & Pettit, Luke & Whited, Toni, 2021. "Taxes Depress Corporate Borrowing: Evidence from Private Firms," IHS Working Paper Series 32, Institute for Advanced Studies.
    38. Xiaoting Ling & Lijuan Yan & Deming Dai, 2022. "Green Credit Policy and Investment Decisions: Evidence from China," Sustainability, MDPI, vol. 14(12), pages 1-22, June.
    39. Massoud, Nadia & Nandy, Debarshi & Saunders, Anthony & Song, Keke, 2011. "Do hedge funds trade on private information? Evidence from syndicated lending and short-selling," Journal of Financial Economics, Elsevier, vol. 99(3), pages 477-499, March.
    40. Darren J. Kisgen & Matthew Osborn & Jonathan Reuter, 2016. "Analyst Promotions within Credit Rating Agencies: Accuracy or Bias?," NBER Working Papers 22477, National Bureau of Economic Research, Inc.
    41. Tao Wang, 2016. "Time-Varying Rating Standards and the Distorted Incentives of Credit Rating Agencies," Global Credit Review (GCR), World Scientific Publishing Co. Pte. Ltd., vol. 6(01), pages 21-39.
    42. Tut, Daniel, 2022. "Debt Dynamic, Debt Dispersion and Corporate Governance," MPRA Paper 113673, University Library of Munich, Germany.
    43. Itay Goldstein & Chong Huang, 2020. "Credit Rating Inflation and Firms' Investments," Journal of Finance, American Finance Association, vol. 75(6), pages 2929-2972, December.
    44. Driss, Hamdi & Massoud, Nadia & Roberts, Gordon S., 2019. "Are credit rating agencies still relevant? Evidence on certification from Moody's credit watches," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 119-141.
    45. Wei Li, 2025. "Investor-Paid Credit Ratings and Managerial Information Disclosure," Management Science, INFORMS, vol. 71(3), pages 2142-2169, March.
    46. Paul Beaumont & Huan Tang & Eric Vansteenberghe, "undated". "Effets collatéraux : le rôle des Fintechs dans le financement des petites et moyennes entreprises," Analyse et synthèse 157, Banque de France.
    47. Thuy Linh Nguyen, 2026. "The impact of the Bank of Japan’s exchange traded fund and corporate bond purchases on firms’ capital structure," The Japanese Economic Review, Springer, vol. 77(1), pages 139-191, January.
    48. Giau Bui, Dien & Chen, Yehning & Lin, Chih-Yung & Lin, Tse-Chun, 2021. "Risk-taking of bank CEOs and corporate innovation," Journal of International Money and Finance, Elsevier, vol. 115(C).
    49. Massa, Massimo & Yasuda, Ayako & Zhang, Lei, 2013. "Supply uncertainty of the bond investor base and the leverage of the firm," Journal of Financial Economics, Elsevier, vol. 110(1), pages 185-214.
    50. Shen, Carl Hsin-han, 2014. "Pecking order, access to public debt market, and information asymmetry," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 291-306.
    51. Taylor D. Nadauld & Michael S. Weisbach, 2011. "Did Securitization Affect the Cost of Corporate Debt?," NBER Working Papers 16849, National Bureau of Economic Research, Inc.
    52. Zhu, Qifei, 2021. "Capital supply and corporate bond issuances: Evidence from mutual fund flows," Journal of Financial Economics, Elsevier, vol. 141(2), pages 551-572.
    53. Harford, Jarrad & Uysal, Vahap B., 2014. "Bond market access and investment," Journal of Financial Economics, Elsevier, vol. 112(2), pages 147-163.
    54. Li, Shuyun May & Suardi, Sandy & Wee, Benjamin, 2022. "Bank lending behavior and housing market booms: The Australian evidence," International Review of Economics & Finance, Elsevier, vol. 81(C), pages 184-204.
    55. Ambrocio, Gene & Hasan, Iftekhar, 2018. "Private information and lender discretion across time and institutions," Bank of Finland Research Discussion Papers 17/2018, Bank of Finland.
    56. Ongena, Steven & Braggion, Fabio, 2013. "A Century of Firm ? Bank Relationships: Did Banking Sector Deregulation Spur Firms to Add Banks and Borrow More?," CEPR Discussion Papers 9695, Centre for Economic Policy Research.
    57. Gaurav Paruthi & Enrique Frias-Martinez & Vanessa Frias-Martinez, 2016. "The Role of Rating and Loan Characteristics in Online Microfunding Behaviors," Papers 1609.09571, arXiv.org.
    58. G. Marandola & R. Mossucca, 2016. "When did the stock market start to react less to downgrades by Moody s, S&P and Fitch?," Working Papers wp1066, Dipartimento Scienze Economiche, Universita' di Bologna.
    59. Tahera Ebrahimi & Jairaj Gupta & Aydin Ozkan, 2020. "Supply‐side factors, CEO overconfidence, and zero‐leverage policy," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(4), pages 547-564, October.
    60. Temimi, Akram & Zeitun, Rami & Mimouni, Karim, 2016. "How does the tax status of a country impact capital structure? Evidence from the GCC region," Journal of Multinational Financial Management, Elsevier, vol. 37, pages 71-89.
    61. Grosse-Rueschkamp, Benjamin & Steffen, Sascha & Streitz, Daniel, 2019. "A capital structure channel of monetary policy," Journal of Financial Economics, Elsevier, vol. 133(2), pages 357-378.
    62. Zeitun, Rami & Temimi, Akram & Mimouni, Karim, 2017. "Do financial crises alter the dynamics of corporate capital structure? Evidence from GCC countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 63(C), pages 21-33.
    63. Lee, Junyong & Lee, Kyounghun & Oh, Frederick Dongchuhl, 2024. "Credit ratings and corporate ESG behavior," The Quarterly Review of Economics and Finance, Elsevier, vol. 98(C).
    64. Bose, Udichibarna & MacDonald, Ronald & Tsoukas, Serafeim, 2019. "Policy initiatives and firms' access to external finance: Evidence from a panel of emerging Asian economies," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 162-184.
    65. María Concepción Verona Martel & José Juan Déniz Mayor, 2011. "Las agencias de rating y la crisis fi nanciera de 2008: ¿El fi n de un poder sin control?," Revista Criterio Libre, Universidad Libre - Sede Principal.
    66. Yan-Shing Chen & Chung-Hua Shen & Chih-Yung Lin, 2014. "The Benefits of Political Connection: Evidence from Individual Bank-Loan Contracts," Journal of Financial Services Research, Springer;Western Finance Association, vol. 45(3), pages 287-305, June.
    67. Patrycja Chodnicka-Jaworska, "undated". "Banks Credit Rating Changes And Their Stock Prices €“ The Impact Of Political Divisions And Economy Development," Review of Socio - Economic Perspectives 201603, Reviewsep.
    68. Hugonnier, Julien & Malamud, Semyon & Morellec, Erwan, 2015. "Credit market frictions and capital structure dynamics," Journal of Economic Theory, Elsevier, vol. 157(C), pages 1130-1158.
    69. Roberto Liebscher & Thomas Mählmann, 2017. "Are Professional Investment Managers Skilled? Evidence from Syndicated Loan Portfolios," Management Science, INFORMS, vol. 63(6), pages 1892-1918, June.
    70. Andreas Barth & Valerie Laturnus & Sasan Mansouri & Alexander F. Wagner, 2023. "Conflicted Analysts and Initial Coin Offerings," Management Science, INFORMS, vol. 69(11), pages 6641-6666, November.
    71. Kang, Di & Zhuang, Zhuang, 2019. "Should companies care who their lender is? Evidence from loan covenants," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    72. Paul Beaumont & Huan Tang & Éric Vansteenberghe, 2024. "Collateral Effects: The Role of FinTech in Small Business Lending [Effets collatéraux : le rôle des Fintechs dans le financement des petites et moyennes entreprises]," Débats Economiques et financiers 42, Banque de France.
    73. Valentina Bruno & Jess Cornaggia & Kimberly J. Cornaggia, 2016. "Does Regulatory Certification Affect the Information Content of Credit Ratings?," Management Science, INFORMS, vol. 62(6), pages 1578-1597, June.
    74. Alfano, Maria Rosaria & Cantabene, Claudia & de Iudicibus, Alessandro, 2024. "The effectiveness of a certification of legality. Evidence from Italian firms," MPRA Paper 120306, University Library of Munich, Germany.
    75. Boeri, Tito & Garibaldi, Pietro & Moen, Espen R., 2015. "Financial constraints in search equilibrium: mortensenand Pissarides Meet Holmstron and Tirole," LSE Research Online Documents on Economics 60610, London School of Economics and Political Science, LSE Library.
    76. Edward Chan & Eddie C. M. Hui & Jianfu Shen & Liya Zhang, 2025. "Capital structure and financial distress in China’s real estate sector: a perspective from sales tournament," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-15, December.
    77. Ruidi Huang, 2025. "The Financial Consequences of Online Review Aggregators: Evidence from Yelp Ratings and SBA Loans," Management Science, INFORMS, vol. 71(1), pages 59-82, January.
    78. Jianfu Shen & Kwong Wing Chau, 2022. "The Effect of Access to the Public Debt Market on Corporate Financing Decisions: The Case of REITs," Sustainability, MDPI, vol. 14(13), pages 1-19, June.
    79. Billett, Matthew T. & Liu, Fangzhou & Tian, Xuan, 2025. "Information spillovers and cross monitoring between the stock market and loan market," Journal of Banking & Finance, Elsevier, vol. 171(C).
    80. Chloé Zapha & Banque de France, 2023. "Access to Credit after Emerging from Corporate Bankruptcy," Working Papers halshs-03957890, HAL.
    81. Ljungqvist, Alexander & Farre-Mensa, Joan, 2015. "Do Measures of Financial Constraints Measure Financial Constraints?," CEPR Discussion Papers 10326, Centre for Economic Policy Research.
    82. Heng An & William Hardin & Zhonghua Wu, 2012. "Information Asymmetry and Corporate Liquidity Management: Evidence from Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 45(3), pages 678-704, October.
    83. Helmut Elsinger & Robert Köck & Marcel Kropp & Walter Waschiczek, 2016. "Corporate financing in Austria in the run-up to capital markets union (This study is also available in German)," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 31, pages 96-119.
    84. Bu, Luofan & Ng, Jeffrey & Song, Byron Y. & Yan, Mark Yuzhi, 2026. "Freedom is not free: Manager disloyalty and bank debt reliance," Journal of Corporate Finance, Elsevier, vol. 96(C).
    85. Brogaard, Jonathan & Koski, Jennifer L. & Siegel, Andrew F., 2019. "Do upgrades matter? Evidence from trading volume," Journal of Financial Markets, Elsevier, vol. 43(C), pages 54-77.
    86. Barth, Andreas & Laturnus, Valerie & Mansouri, Sasan & Wagner, Alexander, 2021. "ICO analysts," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242429, Verein für Socialpolitik / German Economic Association.
    87. Tu Nguyen & H.G. (Lily) Nguyen & Xiangkang Yin, 2015. "Corporate Governance and Corporate Financing and Investment during the 2007-2008 Financial Crisis," Financial Management, Financial Management Association International, vol. 44(1), pages 115-146, March.
    88. De Santis, Roberto A. & Zaghini, Andrea, 2021. "Unconventional monetary policy and corporate bond issuance," European Economic Review, Elsevier, vol. 135(C).
    89. Wong, Woei Chyuan & Batten, Jonathan A. & Ahmad, Abd Halim & Mohamed-Arshad, Shamsul Bahrain & Nordin, Sabariah & Adzis, Azira Abdul, 2021. "Does ESG certification add firm value?," Finance Research Letters, Elsevier, vol. 39(C).
    90. Wojewodzki, Michal & Boateng, Agyenim & Brahma, Sanjukta, 2020. "Credit rating, banks' capital structure and speed of adjustment: A cross-country analysis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 69(C).
    91. Patrycja Chodnicka-Jaworska, 2018. "Banks’ Credit Rating Changes and Their Stock Prices – the Impact of Political Divisions and Economy Development," Faculty of Management Working Paper Series 22018, University of Warsaw, Faculty of Management.
    92. Stefano Colonnello, 2022. "The Real Effects of Universal Banking: Does Access to the Public Debt Market Matter?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(1), pages 77-110, February.
    93. Dong Chen, 2014. "The Non-monotonic Effect of Board Independence on Credit Ratings," Journal of Financial Services Research, Springer;Western Finance Association, vol. 45(2), pages 145-171, April.
    94. Camba-Méndez, Gonzalo & Rodriguez-Palenzuela, Diego & Carbó-Valverde, Santiago, 2014. "Financial reputation, market interventions and debt issuance by banks: a truncated two-part model approach," Working Paper Series 1741, European Central Bank.
    95. Lin, Chih-Yung & Chen, Yan-Shing & Yen, Ju-Fang, 2014. "On the determinant of bank loan contracts: The roles of borrowers’ ownership and board structures," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(4), pages 500-512.
    96. Apergis, Nicholas, 2015. "Newswire messages and sovereign credit ratings: Evidence from European countries under austerity reform programmes," International Review of Financial Analysis, Elsevier, vol. 39(C), pages 54-62.
    97. Ambrocio, Gene & Hasan, Iftekhar, 2019. "What drives discretion in bank lending? Some evidence and a link to private information," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 323-340.
    98. Ivan T. Ivanov & James Z. Wang, 2024. "Bank Supervision and Corporate Credit Supply," Management Science, INFORMS, vol. 70(5), pages 3338-3361, May.
    99. Cuadros-Solas, Pedro J. & Salvador, Carlos & Suárez, Nuria, 2021. "Am I riskier if I rescue my banks? Beyond the effects of bailouts," Journal of Financial Stability, Elsevier, vol. 56(C).
    100. Adelino, Manuel & Ferreira, Miguel & Cunha, Igor, 2017. "The Economic Effects of Public Financing: Evidence from Municipal Bond Ratings Recalibration," CEPR Discussion Papers 11811, Centre for Economic Policy Research.
    101. Tetyana Balyuk, 2023. "FinTech Lending and Bank Credit Access for Consumers," Management Science, INFORMS, vol. 69(1), pages 555-575, January.
    102. Shen, Jianfu & Firth, Michael & Poon, Winnie P.H., 2016. "Credit Expansion, Corporate Finance and Overinvestment: Recent Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 16-27.
    103. Wang, Congcong & Wang, Chong & Long, Huaigang & Zaremba, Adam, 2025. "Does green bond issuance reduce the cost of bank loans? Evidence from China," Journal of Corporate Finance, Elsevier, vol. 94(C).
    104. Aktas, Nihat & Andries, Kathleen & Croci, Ettore & Ozdakak, Ali, 2019. "Stock market development and the financing role of IPOs in acquisitions," Journal of Banking & Finance, Elsevier, vol. 98(C), pages 25-38.
    105. Linh, Nguyen Thuy, 2021. "The Impact of the Bank of Japan’s Exchange Traded Fund and Corporate Bond Purchases on Firms’ Capital Structure," RCESR Discussion Paper Series DP21-1, Research Center for Economic and Social Risks, Institute of Economic Research, Hitotsubashi University.
    106. Danilo Drago & Concetta Carnevale, 2020. "Do CSR Ratings Affect Loan Spreads? Evidence from European Syndicated Loan Market," Sustainability, MDPI, vol. 12(18), pages 1-30, September.
    107. Ginevra Marandola & Rossella Mossucca, 2021. "When did the stock market start to react less to downgrades by Moody’s, S&P and Fitch?," SN Business & Economics, Springer, vol. 1(2), pages 1-45, February.
    108. Ding, Xin & Ren, Yajing & Tan, Wenhao & Wu, Haomin, 2023. "Does carbon emission of firms matter for Bank loans decision? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    109. Mark Mietzner & Juliane Proelss & Denis Schweizer, 2018. "Hidden champions or black sheep? The role of underpricing in the German mini-bond market," Small Business Economics, Springer, vol. 50(2), pages 375-395, February.
    110. Chou, Ting-Kai & Cheng, Jia-Chi, 2012. "Credit ratings and excess value of diversification," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 266-281.
    111. Alsakka, Rasha & ap Gwilym, Owain & Vu, Tuyet Nhung, 2014. "The sovereign-bank rating channel and rating agencies' downgrades during the European debt crisis," Journal of International Money and Finance, Elsevier, vol. 49(PB), pages 235-257.
    112. Huang, Guan-Ying & Shen, Carl Hsin-han & Wu, Zhen-Xing, 2023. "Firm-level political risk and debt choice," Journal of Corporate Finance, Elsevier, vol. 78(C).
    113. Anna Bayona & Oana Peia & Razvan Vlahu, 2023. "Credit Ratings and Investments," Working Papers 776, DNB.
    114. Thomas Lagner & Dodozu Knyphausen‐Aufseß, 2012. "Rating Agencies as Gatekeepers to the Capital Market: Practical Implications of 40 Years of Research," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 21(3), pages 157-202, August.
    115. Jiang, John (Xuefeng) & Harris Stanford, Mary & Xie, Yuan, 2012. "Does it matter who pays for bond ratings? Historical evidence," Journal of Financial Economics, Elsevier, vol. 105(3), pages 607-621.
    116. Tara N. Rice & Philip E. Strahan, 2008. "Does credit supply affect small-firm finance?," Finance and Economics Discussion Series 2008-54, Board of Governors of the Federal Reserve System (U.S.).
    117. Li, Xi & Lou, Yun, 2024. "Foreign institutional ownership and cross-border lending," LSE Research Online Documents on Economics 124422, London School of Economics and Political Science, LSE Library.
    118. Ding Dong & Allen Hu & Zhaorui Li & Zheng Liu, 2025. "Information Acquisition and the Finance-Uncertainty Trap," Working Paper Series 2025-12, Federal Reserve Bank of San Francisco.
    119. Chava, Sudheer & Purnanandam, Amiyatosh, 2011. "The effect of banking crisis on bank-dependent borrowers," Journal of Financial Economics, Elsevier, vol. 99(1), pages 116-135, January.
    120. Shourun Guo & Edie S. Hotchkiss & Weihong Song, 2008. "Do Buyouts (Still) Create Value?," NBER Working Papers 14187, National Bureau of Economic Research, Inc.
    121. Gwion Williams & Rasha Alsakka & Owain ap Gwilym, 2013. "The Impact of Sovereign Credit Signals on Bank Share Prices during the European Sovereign Debt Crisis," Working Papers 13007, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    122. Chala, Alemu Tulu, 2018. "Refinancing Risk and Debt Maturity Choice during a Financial Crisis," Working Papers 2018:33, Lund University, Department of Economics.
    123. Cornaggia, Jess & Cornaggia, Kimberly J. & Xia, Han, 2016. "Revolving doors on Wall Street," Journal of Financial Economics, Elsevier, vol. 120(2), pages 400-419.
    124. Avezum, Lucas, 2022. "Essays on bank regulation and supervision," Other publications TiSEM ecf0bc59-8366-46c4-bdfa-8, Tilburg University, School of Economics and Management.
    125. Patrice Fontaine & Sujiao Zhao, 2021. "Suppliers as financial intermediaries: Trade credit for undervalued firms," Post-Print hal-03507994, HAL.
    126. Veronique Vermoesen & Marc Deloof & Eddy Laveren, 2013. "Long-term debt maturity and financing constraints of SMEs during the Global Financial Crisis," Small Business Economics, Springer, vol. 41(2), pages 433-448, August.
    127. Conor T. Howells & Bastian von Beschwitz, 2016. "Are Euro-Area Corporate Bond Markets Irrelevant? The Effect of Bond Market Access on Investment," International Finance Discussion Papers 1176, Board of Governors of the Federal Reserve System (U.S.).
    128. Drago, Danilo & Gallo, Raffaele, 2018. "Do multiple credit ratings affect syndicated loan spreads?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 56(C), pages 1-16.
    129. Charles Yuji Horioka & Akiko Terada-Hagiwara, 2013. "Corporate Cash Holding in Asia," ADB Economics Working Paper Series 381, Asian Development Bank.
    130. Bris, Arturo & Koskinen, Yrjö & Nilsson, Mattias, 2011. "The Euro and Corporate Financing," CEPR Discussion Papers 8227, Centre for Economic Policy Research.
    131. Bris, Arturo & Koskinen, Yrjö & Nilsson, Mattias, 2011. "The euro and corporate financing," Bank of Finland Research Discussion Papers 6/2011, Bank of Finland.
    132. Agoraki, Maria-Eleni & Gounopoulos, Dimitrios & Kouretas, Georgios P., 2021. "Market expectations and the impact of credit rating on the IPOs of U.S. banks," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 587-610.
    133. Avezum, Lucas & Huizinga, Harry & Raes, Louis, 2022. "The impact of bank regulation on firms’ capital structure: Evidence from multinationals," Journal of Banking & Finance, Elsevier, vol. 138(C).
    134. Young Sang Kim & Junyoup Lee & Ha-Chin Yi, 2021. "Is Foreign Exchange Risk Priced in Bank Loan Spreads?," Review of Quantitative Finance and Accounting, Springer, vol. 57(3), pages 1061-1092, October.

  16. Michael R. Roberts & Amir Sufi, 2009. "Control Rights and Capital Structure: An Empirical Investigation," Journal of Finance, American Finance Association, vol. 64(4), pages 1657-1695, August.

    Cited by:

    1. Gu, Xian & Kowalewski, Oskar, 2014. "Law and structure of the capital markets," MPRA Paper 61003, University Library of Munich, Germany, revised 2014.
    2. Heitor Almeida & Murillo Campello & Igor Cunha & Michael S. Weisbach, 2013. "Corporate Liquidity Management: A Conceptual Framework and Survey," NBER Working Papers 19502, National Bureau of Economic Research, Inc.
    3. Yushu Zhu & Jennifer Gippel & Kathy Walsh, 2017. "Informed trading on debt covenant violations: the long and short of it," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(1), pages 289-315, March.
    4. Hongda Zhong, 2021. "A Dynamic Model of Optimal Creditor Dispersion," Journal of Finance, American Finance Association, vol. 76(1), pages 267-316, February.
    5. Daniel Greenwald, 2019. "Firm Debt Covenants and the Macroeconomy: The Interest Coverage Channel," 2019 Meeting Papers 520, Society for Economic Dynamics.
    6. Antonio Falato & Nellie Liang, 2016. "Do Creditor Rights Increase Employment Risk? Evidence from Loan Covenants," Journal of Finance, American Finance Association, vol. 71(6), pages 2545-2590, December.
    7. Theodore E. Christensen & Hang Pei & Spencer R. Pierce & Liang Tan, 2019. "Non-GAAP reporting following debt covenant violations," Review of Accounting Studies, Springer, vol. 24(2), pages 629-664, June.
    8. Victoria Ivashina & Boris Vallee, 2020. "Weak Credit Covenants," NBER Working Papers 27316, National Bureau of Economic Research, Inc.
    9. Wang, Jing, 2017. "Debt covenant design and creditor control rights: Evidence from the tightest covenant," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 331-352.
    10. Fogel, Kathy & Jandik, Tomas & McCumber, William R., 2018. "CFO social capital and private debt," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 28-52.
    11. Engelberg, Joseph & Gao, Pengjie & Parsons, Christopher A., 2012. "Friends with money," Journal of Financial Economics, Elsevier, vol. 103(1), pages 169-188.
    12. Miguel Faria-e-Castro & Radhakrishnan Gopalan & Avantika Pal & Juan M. Sanchez & Vijay Yerramilli, 2022. "EBITDA Add-backs in Debt Contracting: A Step Too Far?," Working Papers 2022-029, Federal Reserve Bank of St. Louis.
    13. Gregor Matvos, 2013. "Estimating the Benefits of Contractual Completeness," The Review of Financial Studies, Society for Financial Studies, vol. 26(11), pages 2798-2844.
    14. Reisel, Natalia, 2014. "On the value of restrictive covenants: Empirical investigation of public bond issues," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 251-268.
    15. Robert M. Bushman & Abbie J. Smith & Regina Wittenberg‐Moerman, 2010. "Price Discovery and Dissemination of Private Information by Loan Syndicate Participants," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 48(5), pages 921-972, December.
    16. Jeffrey Pittman & Yuping Zhao, 2020. "Debt Covenant Restriction, Financial Misreporting, and Auditor Monitoring," Contemporary Accounting Research, John Wiley & Sons, vol. 37(4), pages 2145-2185, December.
    17. Kiyoung Chang & Ying Li & Ha‐Chin Yi, 2021. "Informed equity ownership and bank loan contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(7-8), pages 1368-1403, July.
    18. Jun Guo & Pinghsun Huang & Yan Zhang, 2019. "Do debt covenant violations serve as a risk factor of ineffective internal control?," Review of Quantitative Finance and Accounting, Springer, vol. 52(1), pages 231-251, January.
    19. Bulan, Laarni & Hull, Tyler, 2013. "The impact of technical defaults on dividend policy," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 814-823.
    20. Gregory J. Cohen & Melanie Friedrichs & Kamran Gupta & William Hayes & Seung Jung Lee & W. Blake Marsh & Nathan Mislang & Maya Shaton & Martin Sicilian, 2018. "The U.S. Syndicated Loan Market : Matching Data," Finance and Economics Discussion Series 2018-085, Board of Governors of the Federal Reserve System (U.S.).
    21. Sandrine Docgne, 2022. "Bond covenants and investment policy," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(3), pages 551-578, September.
    22. Julian Atanassov, 2016. "Arm’s Length Financing and Innovation: Evidence from Publicly Traded Firms," Management Science, INFORMS, vol. 62(1), pages 128-155, January.
    23. Choi, Daewoung & Lee, Jinsook & Yi, Ha-Chin, 2023. "Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R," Finance Research Letters, Elsevier, vol. 58(PB).
    24. Saunders, Anthony & Song, Keke, 2018. "Bank monitoring and CEO risk-taking incentives," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 225-240.
    25. Zhang, Xinde & Zhou, Simiao, 2018. "Bond covenants and institutional blockholding," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 136-152.
    26. Michael R. Roberts, 2014. "The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting," NBER Working Papers 20484, National Bureau of Economic Research, Inc.
    27. Paul A. Griffin & David H. Lont & Kate McClune, 2014. "Insightful Insiders? Insider Trading and Stock Return around Debt Covenant Violation Disclosures," Abacus, Accounting Foundation, University of Sydney, vol. 50(2), pages 117-145, June.
    28. Lim, Jesslyn & Do, Viet & Vu, Tram, 2022. "The effect of lenders’ dual holding on loan contract design: Evidence from performance pricing provisions," Journal of Banking & Finance, Elsevier, vol. 137(C).
    29. Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
    30. Safronov, M., 2016. "Experimentation and Learning-by-Doing," Cambridge Working Papers in Economics 1667, Faculty of Economics, University of Cambridge.
    31. Kim, Tae-Nyun & Kim, Kihun, 2018. "External cost of leverage adjustment: Evidence from defined benefit pension plans," Journal of Economics and Business, Elsevier, vol. 96(C), pages 1-14.
    32. Gregory J. Cohen & Jacob Dice & Melanie Friedrichs & Kamran Gupta & William Hayes & Isabel Kitschelt & Seung Jung Lee & W. Blake Marsh & Nathan Mislang & Maya Shaton & Martin Sicilian & Chris Webster, 2021. "The U.S. syndicated loan market: Matching data," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(4), pages 695-723, December.
    33. Rainville, Megan & Unlu, Emre & Wu, Juan Julie, 2022. "How do stronger creditor rights impact corporate acquisition activity and quality?," Journal of Banking & Finance, Elsevier, vol. 144(C).
    34. Schmid, Thomas, 2013. "Control considerations, creditor monitoring, and the capital structure of family firms," Journal of Banking & Finance, Elsevier, vol. 37(2), pages 257-272.
    35. Rauf, Asad, 2023. "Bank stability and the price of loan commitments," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    36. Doron Avramov & Tarun Chordia & Gergana Jostova & Alexander Philipov, 2022. "The Distress Anomaly is Deeper than You Think: Evidence from Stocks and Bonds [The prediction of corporate bankruptcy: a discriminant analysis]," Review of Finance, European Finance Association, vol. 26(2), pages 355-405.
    37. Jean Paul Decamps & Catherine Casamatta & Arnold Chassagnon & Andrea Attar, 2016. "Multiple Lenders, Strategic Default and Covenants," 2016 Meeting Papers 701, Society for Economic Dynamics.
    38. Liangliang Jiang & Hui Zhou, 2017. "The role of audit verification in debt contracting: evidence from covenant violations," Review of Accounting Studies, Springer, vol. 22(1), pages 469-501, March.
    39. Mauricio Villamizar‐Villegas & Freddy A. Pinzon‐Puerto & Maria Alejandra Ruiz‐Sanchez, 2022. "A comprehensive history of regression discontinuity designs: An empirical survey of the last 60 years," Journal of Economic Surveys, Wiley Blackwell, vol. 36(4), pages 1130-1178, September.
    40. Wonik Choi & Jongha Lim, 2022. "Did they live happily ever after? The fate of restructured firms after hedge fund activism," The Financial Review, Eastern Finance Association, vol. 57(4), pages 925-947, November.
    41. KOCHIYAMA, Takuma & NAKAMURA, Ryosuke, 2014. "Role, Structure, and Determinants of Debt Covenants: Evidence from Japan," Working Paper Series 187, Center for Japanese Business Studies (HJBS), Graduate School of Commerce and Management Hitotsubashi University.
    42. Yin Liu & Huiqi Gan & Khondkar Karim, 2021. "The effectiveness of chief financial officer board membership in improving corporate investment efficiency," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 487-521, August.
    43. Streitz, Daniel, 2015. "The impact of credit default swap trading on loan syndication," SFB 649 Discussion Papers 2015-012, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    44. Xu, Guang & Zhang, Xiaoyan, 2024. "The aftermath of covenant violations: Evidence from China's corporate debt securities," Journal of Empirical Finance, Elsevier, vol. 78(C).
    45. Ria Ria & Muhammad Nuryatno, 2018. "Influence of Audit Quality, Pattern of Loans Concentration and Company Size to Banking Loans (Agency Problem of Creditor Debtor at Manufacture Company in Indonesia)," International Journal of Economics and Financial Issues, Econjournals, vol. 8(4), pages 172-176.
    46. Eka Bertuah & Erlane K. Ghani*, 2018. "Bulls and Bears and Bankruptcy- An Early Warning of Distress," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 962-969:5.
    47. Chu, Yongqiang & Lin, Luca X. & Xiao, Zhanbing, 2024. "Agree to disagree: Lender equity holdings, within-syndicate conflicts, and covenant design," Journal of Financial Intermediation, Elsevier, vol. 57(C).
    48. Ma, Mark (Shuai) & Thomas, Wayne B., 2023. "Economic consequences of operating lease recognition," Journal of Accounting and Economics, Elsevier, vol. 75(2).
    49. Massoud, Nadia & Nandy, Debarshi & Saunders, Anthony & Song, Keke, 2011. "Do hedge funds trade on private information? Evidence from syndicated lending and short-selling," Journal of Financial Economics, Elsevier, vol. 99(3), pages 477-499, March.
    50. Tan, Liang, 2013. "Creditor control rights, state of nature verification, and financial reporting conservatism," Journal of Accounting and Economics, Elsevier, vol. 55(1), pages 1-22.
    51. Jung Koo Kang & Christopher D. Williams & Regina Wittenberg-Moerman, 2021. "CDS trading and nonrelationship lending dynamics," Review of Accounting Studies, Springer, vol. 26(1), pages 258-292, March.
    52. Guevara, Óscar J. & Riutort, Julio, 2024. "Strengthening secured creditors: Implications on debt financing and investment," Journal of Corporate Finance, Elsevier, vol. 84(C).
    53. Xu Chong Bo & Wenyi Li & Jing Shi & Yi Zheng & Qing Zhou, 2021. "Relationship lending and bank loan covenant violations," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5847-5878, December.
    54. Song, Keke & Wang, Jun, 2023. "When banks become shareholder activists," Journal of Banking & Finance, Elsevier, vol. 153(C).
    55. Prilmeier, Robert, 2017. "Why do loans contain covenants? Evidence from lending relationships," Journal of Financial Economics, Elsevier, vol. 123(3), pages 558-579.
    56. Kwan, Amy & Masulis, Ronald & McInish, Thomas H., 2015. "Trading rules, competition for order flow and market fragmentation," Journal of Financial Economics, Elsevier, vol. 115(2), pages 330-348.
    57. François, Pascal & Naqvi, Hassan, 2023. "Secured and unsecured debt in creditor-friendly bankruptcy," Journal of Corporate Finance, Elsevier, vol. 80(C).
    58. Cumming, Douglas J. & Javakhadze, David & Rajkovic, Tijana, 2024. "Unlocking Dividends: The impact of managerial social capital on international corporate payouts," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 95(C).
    59. Hui Liang James & Hongxia Wang & Zhimin Wang, 2024. "Covenant violation and operational efficiency," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(2), pages 1879-1920, June.
    60. Rhodes, Adrienne, 2016. "The relation between earnings-based measures in firm debt contracts and CEO pay sensitivity to earnings," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 1-22.
    61. Devos, Erik & Rahman, Shofiqur & Tsang, Desmond, 2017. "Debt covenants and the speed of capital structure adjustment," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 1-18.
    62. Byrne, Julie & O’Connor, Thomas, 2012. "Creditor rights and the outcome model of dividends," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(2), pages 227-242.
    63. Yun Lou & Clemens A. Otto, 2020. "Debt Heterogeneity and Covenants," Management Science, INFORMS, vol. 66(1), pages 70-92, January.
    64. Berlin, Mitchell & Nini, Greg & Yu, Edison G., 2020. "Concentration of control rights in leveraged loan syndicates," Journal of Financial Economics, Elsevier, vol. 137(1), pages 249-271.
    65. Ambrocio, Gene & Colak, Gonul & Hasan, Iftekhar, 2022. "Commitment or constraint? The effect of loan covenants on merger and acquisition activity," Finance Research Letters, Elsevier, vol. 47(PB).
    66. Ding, Hui & Liu, Chenguang & Ni, Xiaoran, 2023. "Creditor protection and labor investment efficiency: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PD).
    67. Feldhütter, Peter & Hotchkiss, Edith & Karakaş, Oğuzhan, 2016. "The value of creditor control in corporate bonds," Journal of Financial Economics, Elsevier, vol. 121(1), pages 1-27.
    68. Albring, Susan M. & Khurana, Inder K. & Nejadmalayeri, Ali & Pereira, Raynolde, 2011. "Managerial compensation and the debt placement decision," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1445-1456.
    69. Akdoğu, Evrim & Paukowits, Aysun Alp & Celikyurt, Ugur, 2023. "Bondholder governance, takeover likelihood, and division of gains," Journal of Corporate Finance, Elsevier, vol. 79(C).
    70. Demiroglu, Cem & James, Christopher, 2011. "The use of bank lines of credit in corporate liquidity management: A review of empirical evidence," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 775-782, April.
    71. Kisser, Michael & Rapushi, Loreta, 2022. "Equity issues, creditor control and market timing patterns: Evidence from leverage decreasing recapitalizations," Journal of Empirical Finance, Elsevier, vol. 67(C), pages 196-216.
    72. Vashishtha, Rahul, 2014. "The role of bank monitoring in borrowers׳ discretionary disclosure: Evidence from covenant violations," Journal of Accounting and Economics, Elsevier, vol. 57(2), pages 176-195.
    73. Jin, Long & Song, Yuhang & Pan, Changchun, 2024. "Does peer firms' debt default have positive externalities: The investment efficiency perspective," Finance Research Letters, Elsevier, vol. 59(C).
    74. Becht, Marco & Rossi, Stefano & Polo, Andrea, 2015. "Does Mandatory Shareholder Voting Prevent Bad Acquisitions?," CEPR Discussion Papers 10506, Centre for Economic Policy Research.
    75. Karel Hrazdil & Deniz Anginer & Jiyuan Li & Ray Zhang, 2024. "Climate Reputation and Bank Loan Contracting," Journal of Business Ethics, Springer, vol. 192(4), pages 875-896, July.
    76. Wenlian Gao & Feifei Zhu & Kai Chen, 2023. "The role of bank lenders in firm leverage adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 63-97, February.
    77. Lim, Jesslyn & Do, Viet & Vu, Tram, 2020. "Co-opted directors, covenant intensity, and covenant violations," Journal of Corporate Finance, Elsevier, vol. 64(C).
    78. Andries, Kathleen & Gallemore, John & Jacob, Martin, 2017. "The effect of corporate taxation on bank transparency: Evidence from loan loss provisions," Journal of Accounting and Economics, Elsevier, vol. 63(2), pages 307-328.
    79. Dean Hanlon, 2019. "Mandatory accounting change and debt covenant violation: Additional evidence from SFAS 150," Australian Journal of Management, Australian School of Business, vol. 44(3), pages 355-387, August.
    80. Gu, Xian & Kadiyala, Padma & Mahaney-Walter, Xin Wu, 2018. "How creditor rights affect the issuance of public debt: The role of credit ratings," Journal of Financial Stability, Elsevier, vol. 39(C), pages 133-143.
    81. Xia Chen & Qiang Cheng & Alvis K. Lo & Xin Wang, 2023. "CEO contractual protection and debt contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(9-10), pages 1671-1714, October.
    82. Qiu, Buhui & Wang, Teng, 2025. "Corporate mergers and acquisitions under lender scrutiny," Journal of Corporate Finance, Elsevier, vol. 94(C).
    83. Colleen Honigsberg & Sharon P. Katz & Sunay Mutlu & Gil Sadka, 2021. "State contract law and the use of accounting information in debt contracts," Review of Accounting Studies, Springer, vol. 26(1), pages 124-171, March.
    84. Joachim Jungherr & Immo Schott, 2022. "Slow Debt, Deep Recessions," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(1), pages 224-259, January.
    85. Zhang, Zhipeng, 2009. "Recovery Rates and Macroeconomic Conditions: The Role of Loan Covenants," MPRA Paper 17521, University Library of Munich, Germany.
    86. Hess, Dieter & Immenkötter, Philipp, 2014. "How much is too much? Debt capacity and financial flexibility," CFR Working Papers 14-03, University of Cologne, Centre for Financial Research (CFR).
    87. Gao, Huasheng & Wang, Yuxi, 2025. "Tariff uncertainty and the cost of debt: Evidence from United States–China permanent normal trade relations," Journal of Banking & Finance, Elsevier, vol. 178(C).
    88. Delis, Manthos D. & Hasan, Iftekhar & To, Thomas Y. & Wu, Eliza, 2024. "The bright side of bank lobbying: Evidence from the corporate loan market," Journal of Corporate Finance, Elsevier, vol. 86(C).
    89. Filiz Bozagaç & Ömür Saltık & Mert Aktaş & Süleyman Değirmen, 2024. "A New Era of Capital Structure Choices in Technology Firms: Insights on Cultural Dimensions," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 69(69), pages 15-32, June.
    90. Jason Donaldson & Denis Gromb & Giorgia Piacentino, 2019. "Conflicting Priorities: A Theory of Covenants and Collateral," 2019 Meeting Papers 157, Society for Economic Dynamics.
    91. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Perez, Ander, 2014. "Bank lines of credit as contingent liquidity: A study of covenant violations and their implications," Working Paper Series 1702, European Central Bank.
    92. Stephen P. Ferris & Jan Hanousek & Anastasiya Shamshur & Jiri Tresl, 2017. "Asymmetries in the Firm’s Use of Debt to Changing Market Values," CERGE-EI Working Papers wp598, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    93. Lukyanov, Georgy, 2025. "Banks, Bonds, and Collateral: A Microfounded Comparison under Adverse Selection," TSE Working Papers 25-1676, Toulouse School of Economics (TSE).
    94. Nuri Ersahin & Rustom M. Irani & Hanh Le, 2015. "Creditor Control Rights and Resource Allocation within Firms," Working Papers 15-39, Center for Economic Studies, U.S. Census Bureau.
    95. Thomas Ruchti & Andrew Bird & Stephen A. Karolyi & Michael Hertzel, 2024. "The Value of Lending Relationships," Working Papers 24-02, Office of Financial Research, US Department of the Treasury.
    96. Müller, Karsten, 2022. "Busy bankruptcy courts and the cost of credit," Journal of Financial Economics, Elsevier, vol. 143(2), pages 824-845.
    97. Teoh, Ken, 2025. "Anticipating binding constraints: An analysis of debt covenants," Journal of Financial Intermediation, Elsevier, vol. 63(C).
    98. Zhiming Ma & Derrald Stice & Christopher Williams, 2022. "What's my style? Supply‐side determinants of debt covenant inclusion," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(3-4), pages 461-490, March.
    99. Sophie Shive & Margaret Forster, 2025. "Sponsor Reputation and Capital Structure Dynamics in Leveraged Buyouts," Management Science, INFORMS, vol. 71(7), pages 5849-5874, July.
    100. Timmer, Yannick & Van der Ghote, Alejandro & Perez-Orive, Ander, 2026. "Monetary policy under multiple financing constraints," Working Paper Series 3217, European Central Bank.
    101. Hasan, Iftekhar & Lee, Haekwon & Qiu, Buhui & Saunders, Anthony, 2023. "Climate-related disclosure commitment of the lenders, credit rationing, and borrower environmental performance," Bank of Finland Research Discussion Papers 7/2023, Bank of Finland.
    102. Andrea K. Down & Christopher D. Williams & Regina Wittenberg-Moerman, 2024. "Strategic syndication: is bad news shared in loan syndicates?," Review of Accounting Studies, Springer, vol. 29(1), pages 194-236, March.
    103. Tatiana Škerlíková, 2014. "Analysis of the Capital Structure of Domestic Corporations Preceding a Bankruptcy [Rozbor kapitálové struktury tuzemských korporací před úpadkem]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(4), pages 70-83.
    104. Todd A. Gormley & Bong Hwan Kim & Xiumin Martin, 2012. "Do Firms Adjust Their Timely Loss Recognition in Response to Changes in the Banking Industry?," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 50(1), pages 159-196, March.
    105. De Novellis, G. & Musile Tanzi, P. & Stanghellini, E., 2024. "Covenant-lite agreement and credit risk: A key relationship in the leveraged loan market," Research in International Business and Finance, Elsevier, vol. 70(PB).
    106. Victoria Ivashina & Boris Vallée, 2025. "Weak Credit Covenants," Management Science, INFORMS, vol. 71(12), pages 9998-10021, December.
    107. Thomas R. Kubick & G. Brandon Lockhart & David C. Mauer, 2025. "CEO tax burden and debt contracting," Review of Accounting Studies, Springer, vol. 30(1), pages 738-775, March.
    108. Lockhart, George Brandon & Unlu, Emre, 2018. "Does corporate lobbying activity provide useful information to credit markets?," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 128-157.
    109. Björn Imbierowicz & Daniel Streitz, 2024. "Financial debt contracting and managerial agency problems," Financial Management, Financial Management Association International, vol. 53(1), pages 99-118, March.
    110. Michaely, Roni & Popadak, Jillian & Vincent, Christopher, 2015. "The Deleveraging of U.S. Firms and Institutional Investors’ Role," MPRA Paper 66128, University Library of Munich, Germany.
    111. Hussain, Inayat & Durand, Robert B. & Harris, Mark N., 2016. "Default resolution and access to fresh credit in an emerging market," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 256-274.
    112. Roberts, Michael R., 2015. "The role of dynamic renegotiation and asymmetric information in financial contracting," Journal of Financial Economics, Elsevier, vol. 116(1), pages 61-81.
    113. Silaghi, Florina & Martín-Oliver, Alfredo & Sewaid, Ahmed, 2022. "The CDS market reaction to loan renegotiation announcements," Journal of Banking & Finance, Elsevier, vol. 138(C).
    114. Liu, Chunbo & Xu, Liang & Yang, Haoyi & Zhang, Wenqiao, 2023. "Prosocial CEOs and the cost of debt: Evidence from syndicated loan contracts," Journal of Corporate Finance, Elsevier, vol. 78(C).
    115. Cen, Xiao & Li, Nan & Tang, Chao & Wang, Juanting, 2025. "Preference dynamics and risk-taking incentives," Journal of Accounting and Economics, Elsevier, vol. 79(2).
    116. Ricardo Duque Gabriel, 2022. "The Credit Channel of Public Procurement," GEE Papers 0171, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Nov 2022.
    117. Douglas W. Diamond & Yunzhi Hu & Raghuram G. Rajan, 2021. "Liquidity, Pledgeability, and the Nature of Lending," Working Papers 2021-09, Becker Friedman Institute for Research In Economics.
    118. Neophytos Lambertides & Dimitris Tsouknidis, 2024. "Climate regulation costs and firms’ distress risk," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 33(1), pages 3-30, February.
    119. Rana Abdelhafeez Feda, 2020. "The Impact of Credit Ratings on Firms Capital Structure," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 92-101.
    120. Chen, Jie & Mishra, Tapas & Song, Wei & Zhang, Qingjing & Zhang, Zhuang, 2024. "The impact of bank mergers on corporate tax aggressiveness," Journal of Corporate Finance, Elsevier, vol. 84(C).
    121. Daher, Mai, 2017. "Creditor control rights, capital structure, and legal enforcement," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 308-330.
    122. Kang, Di & Zhuang, Zhuang, 2019. "Should companies care who their lender is? Evidence from loan covenants," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    123. Marc Arnold & Ramona Westermann, 2023. "Debt Renegotiations Outside Distress," Review of Finance, European Finance Association, vol. 27(4), pages 1183-1228.
    124. Freudenberg, Felix & Imbierowicz, Björn & Saunders, Anthony & Steffen, Sascha, 2017. "Covenant violations and dynamic loan contracting," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 540-565.
    125. Pyung Kun Chu, 2021. "Corporate Social Responsibility Proposals and Firm Valuation," IJFS, MDPI, vol. 9(3), pages 1-14, August.
    126. Daher, Mai M. & Ismail, Ahmad K., 2018. "Debt covenants and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 174-201.
    127. Gustafson, Matthew T. & Ivanov, Ivan T. & Meisenzahl, Ralf R., 2021. "Bank monitoring: Evidence from syndicated loans," Journal of Financial Economics, Elsevier, vol. 139(2), pages 452-477.
    128. Sugato Chakravarty & Chiraphol N. Chiyachantana & Christine Jiang, 2011. "The Choice Of Trading Venue And Relative Price Impact Of Institutional Trading: Adrs Versus The Underlying Securities In Their Local Markets," Working Papers 1011, Purdue University, Department of Consumer Sciences.
    129. Cho, Seong-Soon & El Ghoul, Sadok & Guedhami, Omrane & Suh, Jungwon, 2014. "Creditor rights and capital structure: Evidence from international data," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 40-60.
    130. Umar Butt, 2019. "Debt covenant violation, competition and cost of new debt," Australian Journal of Management, Australian School of Business, vol. 44(2), pages 163-187, May.
    131. Gabriel Chodorow-Reich & Olivier M. Darmouni & Stephan Luck & Matthew Plosser, 2020. "Bank Liquidity Provision across the Firm Size Distribution," Staff Reports 942, Federal Reserve Bank of New York.
    132. Chao‐Jung Chen & Wen He & Chien‐Ju Lu & Xin Yu, 2022. "Bank loan covenants, accrual quality and firms’ information environment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 547-575, March.
    133. Nada Mora, 2010. "Lender exposure and effort in the syndicated loan market," Research Working Paper RWP 10-12, Federal Reserve Bank of Kansas City.
    134. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Decline of Secured Debt," NBER Working Papers 26637, National Bureau of Economic Research, Inc.
    135. Zhong, Hongda, 2021. "A dynamic model of optimal creditor dispersion," LSE Research Online Documents on Economics 106646, London School of Economics and Political Science, LSE Library.
    136. Misani, Nicola & Pogutz, Stefano, 2015. "Unraveling the effects of environmental outcomes and processes on financial performance: A non-linear approach," Ecological Economics, Elsevier, vol. 109(C), pages 150-160.
    137. Gabriel Chodorow‐Reich & Antonio Falato, 2022. "The Loan Covenant Channel: How Bank Health Transmits to the Real Economy," Journal of Finance, American Finance Association, vol. 77(1), pages 85-128, February.
    138. Dou, Ying, 2017. "Leaving before bad times: Does the labor market penalize preemptive director resignations?," Journal of Accounting and Economics, Elsevier, vol. 63(2), pages 161-178.
    139. Billett, Matthew T. & Liu, Fangzhou & Tian, Xuan, 2025. "Information spillovers and cross monitoring between the stock market and loan market," Journal of Banking & Finance, Elsevier, vol. 171(C).
    140. Alam, Nurul & Boubaker, Sabri & Chen, Xiaomeng Charlene & Hasan, Mostafa Monzur, 2024. "Brand capital and debt choice," International Review of Financial Analysis, Elsevier, vol. 93(C).
    141. Campello, Murillo & Connolly, Robert A. & Kankanhalli, Gaurav & Steiner, Eva, 2022. "Do real estate values boost corporate borrowing? Evidence from contract-level data," Journal of Financial Economics, Elsevier, vol. 144(2), pages 611-644.
    142. Ivashina, Victoria & Sun, Zheng, 2011. "Institutional stock trading on loan market information," Journal of Financial Economics, Elsevier, vol. 100(2), pages 284-303, May.
    143. Jordan Schoenfeld, 2024. "Cyber risk and voluntary Service Organization Control (SOC) audits," Review of Accounting Studies, Springer, vol. 29(1), pages 580-620, March.
    144. Mark S. Carey & Michael B. Gordy, 2016. "The Bank as Grim Reaper : Debt Composition and Bankruptcy Thresholds," Finance and Economics Discussion Series 2016-069, Board of Governors of the Federal Reserve System (U.S.).
    145. Colonnello, Stefano & Koetter, Michael & Stieglitz, Moritz, 2019. "Benign neglect of covenant violations: Blissful banking or ignorant monitoring?," IWH Discussion Papers 3/2019, Halle Institute for Economic Research (IWH).
    146. Wang, Jing & Wang, Liying, 2024. "When shareholders cross-hold lenders’ equity: The effects on the costs of bank loans," Journal of Banking & Finance, Elsevier, vol. 163(C).
    147. Georgy Lukyanov, 2025. "Liquidation Efficiency and the Bank-Bond Margin," Papers 2509.03086, arXiv.org, revised Nov 2025.
    148. Baker, H. Kent & Rjiba, Hatem & Saadi, Samir & Sassi, Syrine, 2024. "Does litigation risk matter for the choice between bank debt and public debt?," Journal of Corporate Finance, Elsevier, vol. 89(C).
    149. Zhang, Zhipeng, 2009. "Who Pulls the Plug? Theory and Evidence on Corporate Bankruptcy Decisions," MPRA Paper 17676, University Library of Munich, Germany, revised 05 Oct 2009.
    150. Christensen, Hans B. & Macciocchi, Daniele & Morris, Arthur & Nikolaev, Valeri V., 2022. "Financial shocks to lenders and the composition of financial covenants," Journal of Accounting and Economics, Elsevier, vol. 73(1).
    151. Rui Wang, 2021. "The attention of long‐term institutional investors and timely loss recognition," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(9-10), pages 1596-1629, October.
    152. Keil, Jan, 2023. "Lending relationships when creditors are in control," Journal of Corporate Finance, Elsevier, vol. 79(C).
    153. Park, James L., 2015. "Equity returns of distressed equity issuers," Finance Research Letters, Elsevier, vol. 14(C), pages 93-103.
    154. Dong Xiang & Andrew C. Worthington & Helen Higgs, 2011. "Firm-level determinants and impacts of finance-seeking behaviour and outcomes for small and medium-sized enterprises (SMEs) in Australia," Discussion Papers in Finance finance:201115, Griffith University, Department of Accounting, Finance and Economics.
    155. Ivanov, Ivan T. & Zimmermann, Tom, 2024. "The “Privatization” of municipal debt," Journal of Public Economics, Elsevier, vol. 237(C).
    156. Mitchell Berlin & Gregory P. Nini & Edison Yu, 2017. "Concentration of Control Rights in Leveraged Loan Syndicates," Working Papers 17-22, Federal Reserve Bank of Philadelphia.
    157. Acharya, Viral & Almeida, Heitor & Ippolito, Filippo & Orive, Ander Perez, 2020. "Bank lines of credit as contingent liquidity: Covenant violations and their implications," Journal of Financial Intermediation, Elsevier, vol. 44(C).
    158. Viral V. Acharya & Heitor Almeida & Filippo Ippolito & Ander Perez‐Orive, 2021. "Credit Lines and the Liquidity Insurance Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 901-938, August.
    159. Fang, Hongyan & Song, Zhihui & Nofsinger, John R. & Wang, Yuyue, 2017. "Trading restrictions and firm dividends: The share lockup expiration experience in China," Journal of Banking & Finance, Elsevier, vol. 85(C), pages 83-98.
    160. Wang, Yiying & Cui, Dangdang, 2025. "Tax credit rating changes and the cost of debt financing: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 80(C).
    161. Hu, Shiyang & Li, Xiao & Tian, Gary Gang & Zhao, Jianyu, 2024. "From debt breaches to employee safety: The hidden power of banking interventions," The British Accounting Review, Elsevier, vol. 56(6).
    162. Heller, Yuval & Peleg Lazar, Sharon & Raviv, Alon, 2022. "Banks’ risk taking and creditors’ bargaining power," Journal of Corporate Finance, Elsevier, vol. 74(C).
    163. Xiao, J., 2016. "Corporate Debt Structure, Precautionary Savings, and Investment Dynamics," Cambridge Working Papers in Economics 1666, Faculty of Economics, University of Cambridge.
    164. Haotian Xiang, 2019. "Time Inconsistency and Financial Covenants," 2019 Meeting Papers 63, Society for Economic Dynamics.
    165. Ferreira, Daniel & Ferreira, Miguel & Mariano, Beatriz, 2017. "Creditor Control Rights and Board Independence," CEPR Discussion Papers 11870, Centre for Economic Policy Research.
    166. Nataliya G. Filatova, 2019. "Improving the Credit Rating of Loan Recipients Implementing Long-Term Investment Projects," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 102-115, August.
    167. Chen, Yangyang & Hasan, Iftekhar & Saffar, Walid & Zolotoy, Leon, 2021. "Executive Equity Risk-Taking Incentives and Firms’ Choice of Debt Structure," Journal of Banking & Finance, Elsevier, vol. 133(C).
    168. Arnold, Marc & Westermann, Ramona, 2015. "The Value of Creditor Governance: Debt Renegotiations In and Outside Distress," Working Papers on Finance 1514, University of St. Gallen, School of Finance, revised Jul 2016.
    169. Baker, Malcolm & Xuan, Yuhai, 2016. "Under new management: Equity issues and the attribution of past returns," Journal of Financial Economics, Elsevier, vol. 121(1), pages 66-78.
    170. Aiyesha Dey & Valeri Nikolaev & Xue Wang, 2016. "Disproportional Control Rights and the Governance Role of Debt," Management Science, INFORMS, vol. 62(9), pages 2581-2614, September.
    171. Ma, Yueran & Shleifer, Andrei, 2025. "The invention of corporate governance," Journal of Financial Economics, Elsevier, vol. 172(C).
    172. Amir Kermani & Yueran Ma, 2020. "Two Tales of Debt," NBER Working Papers 27641, National Bureau of Economic Research, Inc.
    173. Roberts, Michael R. & Sufi, Amir, 2009. "Renegotiation of financial contracts: Evidence from private credit agreements," Journal of Financial Economics, Elsevier, vol. 93(2), pages 159-184, August.
    174. Falk Bräuning & Victoria Ivashina & Ali Ozdagli, 2022. "High-Yield Debt Covenants and Their Real Effects," Working Papers 22-5, Federal Reserve Bank of Boston.
    175. Victor Arshavskiy, 2016. "Design of Debt Covenants and Loan Market Conditions," BEROC Working Paper Series 37, Belarusian Economic Research and Outreach Center (BEROC).
    176. Bruce Seifert & Olubunmi Faleye & Halit Gonenc, 2012. "Creditor Rights, Country Governance, and Corporate Cash Holdings," Koç University-TUSIAD Economic Research Forum Working Papers 1214, Koc University-TUSIAD Economic Research Forum.
    177. Denis, David J. & Wang, Jing, 2014. "Debt covenant renegotiations and creditor control rights," Journal of Financial Economics, Elsevier, vol. 113(3), pages 348-367.
    178. Thomas O'Connor & Julie Byrne, 2012. "Shareholder and creditor legal rights and the outcome model of dividends," Economics Department Working Paper Series n225-12.pdf, Department of Economics, National University of Ireland - Maynooth.
    179. Anh Ngo & Hong Duong & Anthony Chen, 2016. "The Effects of Covenant Violations on the Underpricing of Seasoned Equity Offerings and the Implied Cost of Equity Capital," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 6(01), pages 1-33, March.
    180. Nini, Greg & Smith, David C. & Sufi, Amir, 2009. "Creditor control rights and firm investment policy," Journal of Financial Economics, Elsevier, vol. 92(3), pages 400-420, June.
    181. Devos, Erik & Dhillon, Upinder & Jagannathan, Murali & Krishnamurthy, Srinivasan, 2012. "Why are firms unlevered?," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 664-682.
    182. Del Bosco, Barbara & Misani, Nicola, 2016. "The effect of cross-listing on the environmental, social, and governance performance of firms," Journal of World Business, Elsevier, vol. 51(6), pages 977-990.
    183. Harford, Jarrad & Kecskés, Ambrus & Mansi, Sattar, 2018. "Do long-term investors improve corporate decision making?," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 424-452.
    184. A. Heughebaert & T. Vanacker & S. Manigart, 2012. "Institutional Frameworks, Venture Capital and the Financing of European New Technology-Based Firms," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 12/809, Ghent University, Faculty of Economics and Business Administration.
    185. Ningzhong Li, 2016. "Performance Measures in Earnings‐Based Financial Covenants in Debt Contracts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 54(4), pages 1149-1186, September.
    186. Paul A. Griffin & David H. Lont & Kurt Purdon, 2021. "Stock and Bond Return Comovement as a Different Way to Assess Information Content: The Case of Debt Covenant Violation Disclosures," Abacus, Accounting Foundation, University of Sydney, vol. 57(1), pages 101-125, March.
    187. Ersahin, Nuri & Irani, Rustom M. & Le, Hanh, 2021. "Creditor control rights and resource allocation within firms," Journal of Financial Economics, Elsevier, vol. 139(1), pages 186-208.
    188. Ruhnke, Carsten S., 2022. "Implications of the Creditors' Influence on Corporate Decisions," Junior Management Science (JUMS), Junior Management Science e. V., vol. 7(1), pages 150-184.
    189. Dion Bongaerts & Frederik Schlingemann, 2024. "The Real Effects of Ratings Actions: Evidence from Corporate Asset Sales," Management Science, INFORMS, vol. 70(3), pages 1505-1528, March.
    190. Lont, David & Griffin, Paul & McClune, Kate, 2011. "Insightful Insiders? Insider Trading and Stock Return Around Debt Covenant Violation Disclosures," Working Paper Series 19194, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    191. Ola Bengtsson, 2011. "Covenants in Venture Capital Contracts," Management Science, INFORMS, vol. 57(11), pages 1926-1943, November.
    192. Vikas Mehrotra & Randall Morck, 2017. "Governance and Stakeholders," NBER Working Papers 23460, National Bureau of Economic Research, Inc.
    193. Donaldson, Jason Roderick & Gromb, Denis & Piacentino, Giorgia, 2020. "The paradox of pledgeability," Journal of Financial Economics, Elsevier, vol. 137(3), pages 591-605.
    194. Luísa Farinha & Sónia Félix & João A. C. Santos, 2019. "Bank Funding and the Survival of Start-ups," Working Papers w201919, Banco de Portugal, Economics and Research Department.
    195. Luca Benzoni & Lorenzo Garlappi & Robert Goldstein, 2023. "Incomplete Information, Debt Issuance, and the Term Structure of Credit Spreads," Management Science, INFORMS, vol. 69(7), pages 4331-4352, July.
    196. Colleen Honigsberg & Sharon Katz & Gil Sadka, 2014. "State Contract Law and Debt Contracts," Journal of Law and Economics, University of Chicago Press, vol. 57(4), pages 1031-1061.
    197. Hanousek, Jan & Shamshur, Anastasiya & Tresl, Jiri & Ferris , Stephen, 2017. "Asymmetries in the Firm’s Use of Debt to Changing Market Values," CEPR Discussion Papers 12099, Centre for Economic Policy Research.
    198. Billett, Matthew T. & Esmer, Burcu & Yu, Miaomiao, 2018. "Creditor control and product-market competition," Journal of Banking & Finance, Elsevier, vol. 86(C), pages 87-100.
    199. Antonio Mello & Erwan Quintin, 2021. "A Backup Quarterback View of Mezzanine Finance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(S2), pages 526-556, September.
    200. Akram Khalilov, 2026. "Informational and cushioning properties of conservative balance sheets: a study of crises resilience," Review of Quantitative Finance and Accounting, Springer, vol. 66(1), pages 313-357, January.

  17. Amir Sufi, 2007. "Information Asymmetry and Financing Arrangements: Evidence from Syndicated Loans," Journal of Finance, American Finance Association, vol. 62(2), pages 629-668, April.

    Cited by:

    1. Shen, Huayu & Lan, Fengyun & Xiong, Hao & Lv, Jun & Jian, Jianhui, 2020. "Does top management Team’s academic experience promote corporate innovation? Evidence from China," Economic Modelling, Elsevier, vol. 89(C), pages 464-475.
    2. Gustafson, Matthew T., 2018. "Inter-market competition and bank loan spreads: Evidence from the securities offering reform," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 107-117.
    3. Ilona Babenko & Hendrik Bessembinder & Yuri Tserlukevich, 2024. "Risk Hedging and Loan Covenants," Management Science, INFORMS, vol. 70(11), pages 8067-8095, November.
    4. Urooj Khan & Alvis K. Lo, 2019. "Bank Lending Standards and Borrower Accounting Conservatism," Management Science, INFORMS, vol. 65(11), pages 5337-5359, November.
    5. Iñaki Aldasoro & Sebastian Doerr & Haonan Zhou, 2022. "Non-bank lenders in the syndicated loan market," BIS Quarterly Review, Bank for International Settlements, March.
    6. Ongena, Steven & Tümer-Alkan, Günseli & Westernhagen, Natalja v., 2012. "Creditor concentration: An empirical investigation," European Economic Review, Elsevier, vol. 56(4), pages 830-847.
    7. Tang, Ning & Kamar, Amina & Lin, Chih-Yung & Lu, Chien-Lin, 2023. "Bank safety-oriented culture and lending decisions," Journal of Financial Stability, Elsevier, vol. 66(C).
    8. Paul Demeré, 2023. "Is tax return information useful to equity investors?," Review of Accounting Studies, Springer, vol. 28(3), pages 1413-1465, September.
    9. Mary Chen & Seung Jung Lee & Daniel Neuhann & Farzad Saidi, 2023. "Less Bank Regulation, More Non-Bank Lending," Finance and Economics Discussion Series 2023-026, Board of Governors of the Federal Reserve System (U.S.).
    10. Ettore Crocia & John A. Doukas & Halit Gonenc, 2010. "Family Control and Financing Decisions," Koç University-TUSIAD Economic Research Forum Working Papers 1004, Koc University-TUSIAD Economic Research Forum.
    11. Wittenberg-Moerman, Regina, 2008. "The role of information asymmetry and financial reporting quality in debt trading: Evidence from the secondary loan market," Journal of Accounting and Economics, Elsevier, vol. 46(2-3), pages 240-260, December.
    12. Yan Alperovych & Anantha Divakaruni & Sophie Manigart, 2022. "Lending when relationships are scarce : The role of information spread via bank networks," Post-Print hal-04325549, HAL.
    13. Eungchan Kim & Young Seok Ock & Seung-Jun Shin & Wonchul Seo, 2018. "An Approach to Generating Reference Information for Technology Evaluation," Sustainability, MDPI, vol. 10(9), pages 1-19, September.
    14. Philip Strahan, 2008. "Liquidity Production in 21st Century Banking," NBER Working Papers 13798, National Bureau of Economic Research, Inc.
    15. Victoria Ivashina & Boris Vallee, 2020. "Weak Credit Covenants," NBER Working Papers 27316, National Bureau of Economic Research, Inc.
    16. Landsman, Wayne R. & Peña-Romera, F. Dimas & Zhao, Jianxin (Donny), 2025. "The value of lending to bellwether firms by institutional investors," Journal of Accounting and Economics, Elsevier, vol. 79(2).
    17. Haselmann, Rainer & Wachtel, Paul, 2011. "Foreign banks in syndicated loan markets," Journal of Banking & Finance, Elsevier, vol. 35(10), pages 2679-2689, October.
    18. Do, Viet & Vu, Tram, 2010. "The effects of reputation and relationships on lead banks' certification roles," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(5), pages 475-489, December.
    19. Hallak, Issam, 2013. "Private sector share of external debt and financial stability: Evidence from bank loans," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 17-41.
    20. Bos, J.W.B. & Contreras, M.G. & Kleimeier, S., 2016. "Self-regulation in collaborative environments : the case of the equator principles in banking," Research Memorandum 007, Maastricht University, Graduate School of Business and Economics (GSBE).
    21. Fogel, Kathy & Jandik, Tomas & McCumber, William R., 2018. "CFO social capital and private debt," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 28-52.
    22. Allen, Linda & Gottesman, Aron A. & Peng, Lin, 2012. "The impact of joint participation on liquidity in equity and syndicated bank loan markets," Journal of Financial Intermediation, Elsevier, vol. 21(1), pages 50-78.
    23. Bin Yang & Tao Yuan, 2022. "Trademark and IPO underpricing," Financial Management, Financial Management Association International, vol. 51(1), pages 271-296, March.
    24. Lin, Luca X., 2022. "Taking no chances: Lender concentration and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    25. José-Luis Peydró [AP BACKUP – NOW EXTERNAL] & Bryce C. Turner & David Elliott & Ralf R. Meisenzahl & José-Luis Peydró, 2019. "Nonbanks, Banks, and Monetary Policy: U.S. Loan-Level Evidence since the 1990s," Working Papers 1129, Barcelona School of Economics.
    26. L. C. Baran & T. H. D. King, 2014. "S&P 500 Index reconstitutions and information asymmetry," Applied Financial Economics, Taylor & Francis Journals, vol. 24(11), pages 777-791, June.
    27. Engelberg, Joseph & Gao, Pengjie & Parsons, Christopher A., 2012. "Friends with money," Journal of Financial Economics, Elsevier, vol. 103(1), pages 169-188.
    28. Wajih Abbassi & Sabri Boubaker & Wael Louhichi, 2024. "Why do corporate social responsibility‐oriented companies opt for bond debt? Evidence from crisis periods," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1534-1568, April.
    29. Kamphol Panyagometh & Gordon S. Roberts, 2010. "Do Lead Banks Exploit Syndicate Participants? Evidence from Ex Post Risk," Financial Management, Financial Management Association International, vol. 39(1), pages 273-299, March.
    30. Chen, Chong & Wu, Xueping, 2021. "Winning megadeals: The dual role of acquirer advisors in loan-financed mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 69(C).
    31. Blaise Gadanecz & Alper Kara & Philip Molyneux, 2011. "The value of repeat lending," BIS Working Papers 350, Bank for International Settlements.
    32. Bruche, Max & Malherbe, Frederic & Meisenzahlimeon, Ralf, 2017. "Pipeline risk in leveraged loan syndication," LSE Research Online Documents on Economics 118977, London School of Economics and Political Science, LSE Library.
    33. John Gallemore & Brandon Gipper & Edward Maydew, 2019. "Banks as Tax Planning Intermediaries," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 57(1), pages 169-209, March.
    34. Evan Gatev & Philip Strahan, 2008. "Liquidity Risk and Syndicate Structure," NBER Working Papers 13802, National Bureau of Economic Research, Inc.
    35. Robert M. Bushman & Christopher D. Williams & Regina Wittenberg‐Moerman, 2017. "The Informational Role of the Media in Private Lending," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(1), pages 115-152, March.
    36. Joel Houston & Jennifer Itzkowitz & Andy Naranjo, 2012. "Corporate Borrower Nationality and Global Presence: Cross-Country Evidence on the Pricing of Syndicated Bank Loans," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 5, Edward Elgar Publishing.
    37. Demirguc-Kunt, Asli & Horvath, Balint L. & Huizinga, Harry, 2019. "Regulatory arbitrage and cross-border syndicated loans," Other publications TiSEM 3e62fc2c-fa54-4699-ba52-4, Tilburg University, School of Economics and Management.
    38. Fabio Panetta & Alberto Franco Pozzolo, 2018. "Why do banks securitise their assets? Bank-level evidence from over one hundred countries in the pre-crisis period," Temi di discussione (Economic working papers) 1183, Bank of Italy, Economic Research and International Relations Area.
    39. Stefano Romito & Clodia Vurro, 2021. "Non‐financial disclosure and information asymmetry: A stakeholder view on US listed firms," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 595-605, March.
    40. Victoria Shestalova & Chiara Criscuolo & Nick Johnstone & Carlo Menon, 2014. "Renewable energy policies and cross-border investment: evidence from M&A in solar and wind energy," CPB Discussion Paper 288, CPB Netherlands Bureau for Economic Policy Analysis.
    41. Cerutti, Eugenio & Hale, Galina & Minoiu, Camelia, 2023. "Financial Crises and the Composition of Cross-Border Lending," Santa Cruz Department of Economics, Working Paper Series qt9m42j1b7, Department of Economics, UC Santa Cruz.
    42. Robert M. Bushman & Abbie J. Smith & Regina Wittenberg‐Moerman, 2010. "Price Discovery and Dissemination of Private Information by Loan Syndicate Participants," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 48(5), pages 921-972, December.
    43. Hossain, Md Safayat & Rahman, Mahmud, 2025. "Does the presence of GC in the top management team affect debt financing choices?," Advances in accounting, Elsevier, vol. 69(C).
    44. Po‐Hsin Ho & Chih‐Yung Lin & Tse‐Chun Lin, 2022. "Equity Short Selling and the Bank Loan Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 349-379, March.
    45. To, Thomas Y. & Navone, Marco & Wu, Eliza, 2018. "Analyst coverage and the quality of corporate investment decisions," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 164-181.
    46. Lin, Jing & An, Yunbi & Yang, Jun & Liang, Yinhe, 2019. "Price inversion and post lock-up period returns on private investments in public equity in China: An interest transfer perspective," Journal of Corporate Finance, Elsevier, vol. 54(C), pages 47-84.
    47. Kiyoung Chang & Ying Li & Ha‐Chin Yi, 2021. "Informed equity ownership and bank loan contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(7-8), pages 1368-1403, July.
    48. Wagner, Wolf & Lambert, Thomas & Zhang, Eden Quxian, 2020. "Banks, Political Capital, and Growth," CEPR Discussion Papers 15612, Centre for Economic Policy Research.
    49. Gopalakrishnan, Balagopal & Mohapatra, Sanket, 2019. "Diversified Syndicate Structure and Loan Spreads for Non-U.S. Firms," MPRA Paper 96297, University Library of Munich, Germany.
    50. Lin, Chen & Ma, Chicheng & Sun, Yuchen & Xu, Yuchen, 2021. "The telegraph and modern banking development, 1881–1936," Journal of Financial Economics, Elsevier, vol. 141(2), pages 730-749.
    51. Mark Jansen, 2020. "Resolving Information Asymmetry Through Contractual Risk Sharing: The Case of Private Firm Acquisitions," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 58(5), pages 1203-1248, December.
    52. Gambacorta, Leonardo & Albertazzi, Ugo & Bottero, Margherita & Ongena, Steven, 2017. "Asymmetric information and the securitization of SME loans," CEPR Discussion Papers 11785, Centre for Economic Policy Research.
    53. Do, Viet & Truong, Cameron & Vu, Tram, 2022. "Options listings and loan contract terms: Information versus risk-shifting," Journal of Financial Markets, Elsevier, vol. 58(C).
    54. Huber, Kilian, 2021. "Are Bigger Banks Better? Firm-Level Evidence from Germany," CEPR Discussion Papers 15769, Centre for Economic Policy Research.
    55. Dzsamila Vonnak, 2015. "Decomposing the Riskiness of Corporate Foreign Currency Lending: the Case of Hungary," KRTK-KTI WORKING PAPERS 1528, Institute of Economics, Centre for Economic and Regional Studies.
    56. Akiyoshi, Fumio, 2019. "Effects of separating commercial and investment banking: Evidence from the dissolution of a joint venture investment bank," Journal of Financial Economics, Elsevier, vol. 134(3), pages 703-714.
    57. Croci, Ettore & Degl'Innocenti, Marta & Zhou, Si, 2021. "Large customer-supplier links and syndicate loan structure," Journal of Corporate Finance, Elsevier, vol. 66(C).
    58. Sony, Bipin & Bhaduri, Saumitra, 2021. "Information asymmetry and financing choice between debt, equity and dual issues by Indian firms," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 90-101.
    59. Grupp, Marcel, 2015. "Taking the lead: When non-banks arrange syndicated loans," SAFE Working Paper Series 100, Leibniz Institute for Financial Research SAFE.
    60. Godlewski, Christophe J., 2020. "How legal and institutional environments shape the private debt renegotiation process?," Journal of Corporate Finance, Elsevier, vol. 62(C).
    61. Li, Xiaoyang & Lin, Shannon & Tucker, Alan L., 2016. "The curious case of converts," Global Finance Journal, Elsevier, vol. 31(C), pages 1-17.
    62. Costello, Anna M., 2013. "Mitigating incentive conflicts in inter-firm relationships: Evidence from long-term supply contracts," Journal of Accounting and Economics, Elsevier, vol. 56(1), pages 19-39.
    63. Gregory J. Cohen & Melanie Friedrichs & Kamran Gupta & William Hayes & Seung Jung Lee & W. Blake Marsh & Nathan Mislang & Maya Shaton & Martin Sicilian, 2018. "The U.S. Syndicated Loan Market : Matching Data," Finance and Economics Discussion Series 2018-085, Board of Governors of the Federal Reserve System (U.S.).
    64. Stolowy, Hervé & Jeanjean, Thomas & Erkens, Michael, 2011. "The economic consequences of increasing the international visibility of financial reports," HEC Research Papers Series 957, HEC Paris.
    65. Álvarez-Botas, Celia & González, Víctor M., 2023. "The value of relationship banking: International evidence," Research in International Business and Finance, Elsevier, vol. 64(C).
    66. Beatty, Anne & Liao, Scott & Zhang, Haiwen (Helen), 2019. "The effect of banks’ financial reporting on syndicated-loan structures," Journal of Accounting and Economics, Elsevier, vol. 67(2), pages 496-520.
    67. April Knill & Kristina Minnick & Ali Nejadmalayeri, 2012. "Experience, information asymmetry, and rational forecast bias," Review of Quantitative Finance and Accounting, Springer, vol. 39(2), pages 241-272, August.
    68. Xiangge Wang & Kirsten A. Cook, 2026. "Dual Holders and Corporate Tax Policies," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 66(1), pages 357-391, March.
    69. Nikolaev, Valeri V., 2018. "Scope for renegotiation in private debt contracts," Journal of Accounting and Economics, Elsevier, vol. 65(2), pages 270-301.
    70. Hasan, Iftekhar & Manfredonia, Stefano, 2022. "Productivity, managers’ social connections and the financial crisis," Journal of Banking & Finance, Elsevier, vol. 141(C).
    71. Georgios Bampinas & Magnus Blomkvist & Elias Demetriades & Panagiotis Politsidis, 2024. "The flight home effect during the COVID-19 pandemic: Evidence from syndicated loans," Post-Print hal-04860105, HAL.
    72. Joseph, Kerron & Nguyen, Ca & Wald, John K., 2025. "Renegotiation of international loans, capital regulation, and monetary policy," Journal of Banking & Finance, Elsevier, vol. 176(C).
    73. Hainz, Christa & Weill, Laurent & Godlewski, Christophe J., 2008. "Bank competition and collateral: theory and evidence," Bank of Finland Research Discussion Papers 27/2008, Bank of Finland.
    74. Degl’Innocenti, Marta & Frigerio, Marco & Zhou, Si, 2022. "Development banks and the syndicate structure: Evidence from a world sample," Journal of Empirical Finance, Elsevier, vol. 66(C), pages 99-120.
    75. Anagnostopoulou, Seraina C. & Drakos, Konstantinos, 2016. "Bank loan terms and conditions: Is there a macro effect?," Research in International Business and Finance, Elsevier, vol. 37(C), pages 269-282.
    76. Houston, Joel F. & Itzkowitz, Jennifer & Naranjo, Andy, 2017. "Borrowing beyond borders: Foreign assets, lender choice, and loan pricing in the syndicated bank loan market," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 315-334.
    77. Cortina Lorente,Juan Jose & Didier Brandao,Tatiana & Schmukler,Sergio L., 2020. "Global Corporate Debt during Crises : Implications of Switching Borrowing across Markets," Policy Research Working Paper Series 9142, The World Bank.
    78. Wix, Carlo, 2017. "The long-run real effects of banking crises: Firm-level investment dynamics and the role of wage rigidity," SAFE Working Paper Series 189, Leibniz Institute for Financial Research SAFE.
    79. F. Vinas, 2016. "The real effects of universal banking on firms’ investment: Micro-evidence from 2004-2009," Débats Economiques et financiers 21, Banque de France.
    80. Champagne, Claudia, 2014. "The international syndicated loan market network: An “unholy trinity”?," Global Finance Journal, Elsevier, vol. 25(2), pages 148-168.
    81. Alvis K. Lo, 2014. "Do Declines in Bank Health Affect Borrowers’ Voluntary Disclosures? Evidence from International Propagation of Banking Shocks," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 52(2), pages 541-581, May.
    82. Tabakis, Evangelos & Tamura, Kentaro, 2013. "The use of credit claims as collateral for Eurosystem credit operations," Occasional Paper Series 148, European Central Bank.
    83. Bui, Dien Giau & Chen, Yan-Shing & Hasan, Iftekhar & Lin, Chih-Yung, 2018. "Can lenders discern managerial ability from luck? Evidence from bank loan contracts," Journal of Banking & Finance, Elsevier, vol. 87(C), pages 187-201.
    84. Ningzhong Li, 2010. "Negotiated Measurement Rules in Debt Contracts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 48(5), pages 1103-1144, December.
    85. Bo Ouyang & Yi Tang & Chong Wang & Jian Zhou, 2022. "No-Fly Zone in the Loan Office: How Chief Executive Officers’ Risky Hobbies Affect Credit Stakeholders’ Evaluation of Firms," Organization Science, INFORMS, vol. 33(1), pages 414-430, January.
    86. Lin, Zhijun & Song, Byron Y. & Tian, Zhimin, 2016. "Does director-level reputation matter? Evidence from bank loan contracting," Journal of Banking & Finance, Elsevier, vol. 70(C), pages 160-176.
    87. Galina Hale & Tumer Kapan & Camelia Minoiu, 2019. "Shock Transmission through Cross-Border Bank Lending: Credit and Real Effects," Finance and Economics Discussion Series 2019-052, Board of Governors of the Federal Reserve System (U.S.).
    88. Demetriades, Elias & Politsidis, Panagiotis N., 2025. "Bank lending to fossil fuel firms," Journal of Financial Stability, Elsevier, vol. 76(C).
    89. Lim, Jesslyn & Do, Viet & Vu, Tram, 2022. "The effect of lenders’ dual holding on loan contract design: Evidence from performance pricing provisions," Journal of Banking & Finance, Elsevier, vol. 137(C).
    90. Marco Airaudo & María Pía Olivero, 2014. "Optimal Monetary Policy with Counter-Cyclical Credit Spreads," School of Economics Working Paper Series 2014-1, LeBow College of Business, Drexel University.
    91. Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
    92. Kathleen M. Kahle & René M. Stulz, 2010. "Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?," NBER Working Papers 16310, National Bureau of Economic Research, Inc.
    93. Bergbrant, Mikael C. & Francis, Bill B. & Hunter, Delroy M., 2024. "How does currency risk impact firms? New evidence from bank loan contracts," Journal of Corporate Finance, Elsevier, vol. 84(C).
    94. David Marques-Ibanez, 2016. "Securitization and Credit Quality," IMF Working Papers 2016/221, International Monetary Fund.
    95. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "The Secured Credit Premium and the Issuance of Secured Debt," NBER Working Papers 26799, National Bureau of Economic Research, Inc.
    96. Acharya, Viral & Eisert, Tim & Eufinger, Christian & Hirsch, Christian, 2017. "Whatever it takes: The Real Effects of Unconventional Monetary Policy," CEPR Discussion Papers 12005, Centre for Economic Policy Research.
    97. Asgharian, Hossein & Krygier, Dominika & Vilhelmsson, Anders, 2019. "Systemic Risk and Centrality Revisited: The Role of Interactions," Working Papers 2019:4, Lund University, Department of Economics.
    98. Gregory J. Cohen & Jacob Dice & Melanie Friedrichs & Kamran Gupta & William Hayes & Isabel Kitschelt & Seung Jung Lee & W. Blake Marsh & Nathan Mislang & Maya Shaton & Martin Sicilian & Chris Webster, 2021. "The U.S. syndicated loan market: Matching data," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(4), pages 695-723, December.
    99. Moore, Jared A. & Xu, Li, 2018. "Book-tax differences and costs of private debt," Advances in accounting, Elsevier, vol. 42(C), pages 70-82.
    100. Chala, Alemu Tulu, 2018. "Syndicated Lending: The Role of Relationships for the Retained Share," Working Papers 2018:34, Lund University, Department of Economics.
    101. Nicolas Crouzet, 2021. "Credit Disintermediation and Monetary Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 23-89, March.
    102. Quijano, Margot, 2013. "Financial fragility, uninsured deposits, and the cost of debt," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 159-175.
    103. Sidharth Moktan & Benjamin Guin & Liam Clarke, 2025. "The anatomy of a shock to residential real estate: the role of lending," Bank of England working papers 1111, Bank of England.
    104. Barraza, Santiago & Civelli, Andrea, 2020. "Economic policy uncertainty and the supply of business loans," Journal of Banking & Finance, Elsevier, vol. 121(C).
    105. Drago, Danilo & Gallo, Raffaele, 2020. "The impact of financial crises on the syndicated loan spreads applied to public and private firms," Journal of Financial Stability, Elsevier, vol. 46(C).
    106. Godlewski, Christophe J. & Sanditov, Bulat, 2024. "Bank loan renegotiation and financial institutions' network," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    107. David Elliott & Ralf R. Meisenzahl & José-Luis Peydró, 2023. "Nonbank Lenders as Global Shock Absorbers: Evidence from US Monetary Policy Spillovers," Working Paper Series WP 2023-29, Federal Reserve Bank of Chicago.
    108. Fang, Heyang & Zhang, Yifei, 2019. "Political Tensions and Corporate Cross-border Financing: Evidence from the China-U.S. Trade War," MPRA Paper 95494, University Library of Munich, Germany.
    109. Iñaki Aldasoro & Andreas Barth, 2017. "Syndicated loans and CDS positioning," BIS Working Papers 679, Bank for International Settlements.
    110. Cortés, Janko Hernández & Tribó, Josep A & Adamuz, María de las Mercedes, 2020. "Are syndicated loans truly less expensive?," Journal of Banking & Finance, Elsevier, vol. 120(C).
    111. Martin, Xiumin & Roychowdhury, Sugata, 2015. "Do financial market developments influence accounting practices? Credit default swaps and borrowers׳ reporting conservatism," Journal of Accounting and Economics, Elsevier, vol. 59(1), pages 80-104.
    112. Brendan Daley & Brett Green & Victoria Vanasco, 2016. "Designing securities for scrutiny," Economics Working Papers 1818, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2021.
    113. Eichholtz, Piet & Ongena, Steven & Simeth, Nagihan & Yönder, Erkan, 2023. "Banks, non-banks, and the incorporation of local information in CMBS loan pricing," Journal of Banking & Finance, Elsevier, vol. 154(C).
    114. B. Espen Eckbo & Xunhua Su & Karin S. Thorburn, 2025. "Bank Compensation for the Penalty-Free Loan Prepayment Option: Theory and Evidence," Management Science, INFORMS, vol. 71(12), pages 10414-10441, December.
    115. Qian, Xuesong & Kong, Dongmin & Du, Li, 2019. "Proximity, information, and loan pricing in internal capital markets: Evidence from China," China Economic Review, Elsevier, vol. 54(C), pages 434-456.
    116. Khaled Amira & Mark L. Muzere, 2018. "Collateral and Yield Spread of Syndicated Loans," Accounting and Finance Research, Sciedu Press, vol. 7(3), pages 180-180, August.
    117. Tian, Yulu & Su, Qin, 2024. "Digital transformation, information and lending distance -Evidence from Chinese bank branch data," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 545-560.
    118. Dina El Mahdy, 2025. "Do Syndicated Loan Borrowers Trade-Off Real Activities Manipulation with Accrual-Based Earnings Management?," JRFM, MDPI, vol. 18(6), pages 1-28, June.
    119. Tsvetkov Yakovlevich, 2015. "Evaluations of Information Assymetry," Modern Applied Science, Canadian Center of Science and Education, vol. 9(6), pages 243-243, June.
    120. Alexandros Vardoulakis, 2020. "Designing a Main Street Lending Facility," Finance and Economics Discussion Series 2020-052, Board of Governors of the Federal Reserve System (U.S.).
    121. Karima Bouaiss & Catherine Refait-Alexandre, 2009. "La structure des crédits syndiqués comme défense contre les problèmes informationnels : une analyse empirique sur le marché français," Post-Print hal-01391670, HAL.
    122. Maskara, Pankaj Kumar, 2010. "Economic value in tranching of syndicated loans," Journal of Banking & Finance, Elsevier, vol. 34(5), pages 946-955, May.
    123. Arnoud W.A. Boot & Matej Marinč, 2012. "Financial Innovations, Marketability and Stability in Banking," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 22, Edward Elgar Publishing.
    124. An, Heng (Hunter) & Chan, Kam C., 2008. "Credit ratings and IPO pricing," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 584-595, December.
    125. Danning Lu & Jing Yang, 2025. "Bank competition and ESG performance‐evidence from Chinese listed firms," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(1), pages 1358-1377, January.
    126. LiuLing Liu, 2015. "Analyst coverage, syndicate structure, and loan contracts," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 1-21, June.
    127. Bosch, Oliver & Steffen, Sascha, 2011. "On syndicate composition, corporate structure and the certification effect of credit ratings," Journal of Banking & Finance, Elsevier, vol. 35(2), pages 290-299, February.
    128. Gang Wang & Yi Shen, 2023. "Did quantitative easing reduce the borrowing costs of firms? The risk‐taking channel," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(1), pages 507-536, March.
    129. KOCHIYAMA, Takuma & NAKAMURA, Ryosuke, 2014. "Role, Structure, and Determinants of Debt Covenants: Evidence from Japan," Working Paper Series 187, Center for Japanese Business Studies (HJBS), Graduate School of Commerce and Management Hitotsubashi University.
    130. Focarelli, Dario & Pozzolo, Alberto Franco & Casolaro, Luca, 2008. "The pricing effect of certification on syndicated loans," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 335-349, March.
    131. Yan Hu & Connie Mao, 2017. "Accounting quality, bank monitoring, and performance pricing loans," Review of Quantitative Finance and Accounting, Springer, vol. 49(3), pages 569-597, October.
    132. Chaudhry, Sajid M. & Bajoori, Elnaz & Nandeibam, Shasi, 2019. "Clustered pricing in the corporate loan market: Theory and empirical evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 275-296.
    133. Mohammed Saharti & Sajid M. Chaudhry & Nisar Ahmad & Syed Mujahid Hussain, 2024. "Syndicated loans: mapping the trends, sources and intellectual evolution," Review of Quantitative Finance and Accounting, Springer, vol. 62(4), pages 1569-1592, May.
    134. Champagne, Claudia & Coggins, Frank, 2012. "Common information asymmetry factors in syndicated loan structures," Journal of Banking & Finance, Elsevier, vol. 36(5), pages 1437-1451.
    135. Korkeamäki, Timo & Pöyry, Salla & Suo, Maiju, 2014. "Credit ratings and information asymmetry on the Chinese syndicated loan market," China Economic Review, Elsevier, vol. 31(C), pages 1-16.
    136. Biswas, Sonny & Ozkan, Neslihan & Yin, Junyang, 2025. "Non-bank lending and firm performance: Evidence from the syndicate loan market," Journal of Banking & Finance, Elsevier, vol. 181(C).
    137. Espenlaub, Susanne & Khurshed, Arif & Neufeld, Anna, 2025. "Loan amendments and capital structure," International Review of Financial Analysis, Elsevier, vol. 102(C).
    138. Delis, Manthos D. & Politsidis, Panagiotis N. & Sarno, Lucio, 2022. "The cost of foreign-currency lending," Journal of Banking & Finance, Elsevier, vol. 136(C).
    139. Contreras, Gabriela & Bos, Jaap W.B. & Kleimeier, Stefanie, 2019. "Self-regulation in sustainable finance: The adoption of the Equator Principles," World Development, Elsevier, vol. 122(C), pages 306-324.
    140. Adam, Tim R. & Streitz, Daniel, 2013. "Bank lending relationships and the use of performance-sensitive debt," SFB 649 Discussion Papers 2013-027, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    141. Streitz, Daniel, 2015. "The impact of credit default swap trading on loan syndication," SFB 649 Discussion Papers 2015-012, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    142. Carrizosa, Richard & Ryan, Stephen G., 2017. "Borrower private information covenants and loan contract monitoring," Journal of Accounting and Economics, Elsevier, vol. 64(2), pages 313-339.
    143. Godlewski, Christophe J., 2015. "The dynamics of bank debt renegotiation in Europe: A survival analysis approach," Economic Modelling, Elsevier, vol. 49(C), pages 19-31.
    144. Amiraslani, Hami & Donovan, John & Phillips, Matthew A. & Wittenberg-Moerman, Regina, 2023. "Contracting in the Dark: The rise of public-side lenders in the syndicated loan market," Journal of Accounting and Economics, Elsevier, vol. 76(1).
    145. Guglielmo Maria Caporale & Suman Lodh & Monomita Nandy, 2015. "How Has the Global Financial Crisis Affected Syndicated Loan Terms in Emerging Markets? Evidence from China," CESifo Working Paper Series 5353, CESifo.
    146. Hasan, Iftekhar & Politsidis, Panagiotis N. & Sharma, Zenu, 2021. "Global syndicated lending during the COVID-19 pandemic," MPRA Paper 106942, University Library of Munich, Germany.
    147. Florian Kiy & Theresa Zick, 2020. "Effects of declining bank health on borrowers’ earnings quality: evidence from the European sovereign debt crisis," Journal of Business Economics, Springer, vol. 90(4), pages 615-673, May.
    148. Jens Hagendorff & Sonya Lim & Duc Duy Nguyen, 2023. "Lender Trust and Bank Loan Contracts," Management Science, INFORMS, vol. 69(3), pages 1758-1779, March.
    149. Bae, Sang Hoo & Saberi, Sara & Kouhizadeh, Mahtab & Sarkis, Joseph, 2025. "Examining blockchain's role in supply chain finance structure and governance," International Review of Financial Analysis, Elsevier, vol. 99(C).
    150. Wang, Ye & Wu, Shuang, 2024. "Impact of mobile banking on small business lending after bank branch closures," Journal of Corporate Finance, Elsevier, vol. 87(C).
    151. Lin, Chen & Ma, Yue & Malatesta, Paul & Xuan, Yuhai, 2012. "Corporate ownership structure and bank loan syndicate structure," Journal of Financial Economics, Elsevier, vol. 104(1), pages 1-22.
    152. Yue Cai, 2021. "Measuring Market Power in the IPO Underwriter," Working Papers 2108, Waseda University, Faculty of Political Science and Economics.
    153. McCahery, J.A. & Schwienbacher, A., 2011. "Bank Reputation in the Private Debt Market," Other publications TiSEM b8c1a285-0751-40b6-ad86-4, Tilburg University, School of Economics and Management.
    154. Park,Haelim & Ruiz Ortega,Claudia & Tressel,Thierry, 2015. "Determinants of long-term versus short-term bank credit in EU countries," Policy Research Working Paper Series 7436, The World Bank.
    155. Chan, Yu-Ju & Lin, Chih-Yung & Lin, Tse-Chun, 2025. "Tacit collusion among dominant banks: Evidence from round-yard loan pricing," Journal of Corporate Finance, Elsevier, vol. 92(C).
    156. Nicholas Hallman & John S. Howe & Wei Wang, 2023. "Analyst coverage and syndicated lending," Review of Accounting Studies, Springer, vol. 28(3), pages 1531-1569, September.
    157. Chu, Yongqiang & Lin, Luca X. & Xiao, Zhanbing, 2024. "Agree to disagree: Lender equity holdings, within-syndicate conflicts, and covenant design," Journal of Financial Intermediation, Elsevier, vol. 57(C).
    158. D. G. DeBoskey & Yutao Li & Gerald J. Lobo & Yan Luo, 2021. "Corporate political transparency and the cost of debt," Review of Quantitative Finance and Accounting, Springer, vol. 57(1), pages 111-145, July.
    159. Baran, Lindsay & Dennis, Steven A. & Shukla, Maneesh K., 2025. "Bank board structure and loan syndication," Journal of Banking & Finance, Elsevier, vol. 178(C).
    160. Christophe J. Godlewski & Bulat Sanditov, 2018. "Financial Institutions Network and the Certification Value of Bank Loans," Financial Management, Financial Management Association International, vol. 47(2), pages 253-283, June.
    161. Douglas J. Cumming & Lars Hornuf, 2020. "Marketplace Lending of SMEs," CESifo Working Paper Series 8100, CESifo.
    162. Botsch, Matthew & Vanasco, Victoria, 2019. "Learning by lending," Journal of Financial Intermediation, Elsevier, vol. 37(C), pages 1-14.
    163. Alemu Tulu Chala, 2023. "The Impact of Lending Relationships on the Lead Arrangers’ Retained Share," IJFS, MDPI, vol. 11(4), pages 1-23, October.
    164. Massoud, Nadia & Nandy, Debarshi & Saunders, Anthony & Song, Keke, 2011. "Do hedge funds trade on private information? Evidence from syndicated lending and short-selling," Journal of Financial Economics, Elsevier, vol. 99(3), pages 477-499, March.
    165. Dagostino, Ramona & Gao, Janet & Ma, Pengfei, 2023. "Partisanship in loan pricing," Journal of Financial Economics, Elsevier, vol. 150(3).
    166. Makoto Nirei & Vladyslav Sushko & Julián Caballero, 2016. "Bank Capital Shock Propagation via Syndicated Interconnectedness," Computational Economics, Springer;Society for Computational Economics, vol. 47(1), pages 67-96, January.
    167. Michaelides, Alexander & Kokas, Sotirios & Gupta, Abhimanyu, 2017. "Credit Market Spillovers: Evidence from a Syndicated Loan Market Network," CEPR Discussion Papers 12424, Centre for Economic Policy Research.
    168. Christophe J. GODLEWSKI & Bulat SANDITOV, 2020. "Private debt renegotiation and financial institutions' network," Working Papers of LaRGE Research Center 2020-01, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    169. Bermpei, Theodora & Degl’Innocenti, Marta & Kalyvas, Antonios Nikolaos & Zhou, Si, 2023. "Lender individualism and monitoring: Evidence from syndicated loans," Journal of Financial Stability, Elsevier, vol. 66(C).
    170. Ca Nguyen & John K. Wald, 2022. "Debt maturity and the choice between bank loans and public bonds," Review of Quantitative Finance and Accounting, Springer, vol. 59(1), pages 239-272, July.
    171. Liu, Frank Hong & Wu, Qiang & Zhou, Yue, 2024. "Bank deregulation and corporate social responsibility," Journal of Financial Stability, Elsevier, vol. 74(C).
    172. Jose Maria Serena & Marina‐Eliza Spaliara & Serafeim Tsoukas, 2022. "International bank credit, nonbank lenders, and access to external financing," Economic Inquiry, Western Economic Association International, vol. 60(3), pages 1214-1232, July.
    173. Elias Demetriades & Panagiotis Politsidis, 2025. "Bank lending to fossil fuel firms," Post-Print hal-04804492, HAL.
    174. Yanyi Ye & Yun Wang & Xiaoguang Yang, 2022. "Bank loan information and information asymmetry in the stock market: evidence from China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-28, December.
    175. Yili Lian, 2018. "Bank competition and the cost of bank loans," Review of Quantitative Finance and Accounting, Springer, vol. 51(1), pages 253-282, July.
    176. Jung Koo Kang & Christopher D. Williams & Regina Wittenberg-Moerman, 2021. "CDS trading and nonrelationship lending dynamics," Review of Accounting Studies, Springer, vol. 26(1), pages 258-292, March.
    177. Ali Ozdagli, 2015. "The final countdown: the effect of monetary policy during \"Wait-for-It\" and reversal periods," Working Papers 15-15, Federal Reserve Bank of Boston.
    178. Shleifer, Andrei & Vishny, Robert W., 2010. "Unstable banking," Scholarly Articles 33077921, Harvard University Department of Economics.
    179. Sumit Agarwal & Brent W. Ambrose & Souphala Chomsisengphet & Chunlin Liu, 2011. "The Role of Soft Information in a Dynamic Contract Setting: Evidence from the Home Equity Credit Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(4), pages 633-655, June.
    180. Xu Chong Bo & Wenyi Li & Jing Shi & Yi Zheng & Qing Zhou, 2021. "Relationship lending and bank loan covenant violations," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5847-5878, December.
    181. Tigges, Maximilian & Mestwerdt, Sönke & Tschirner, Sebastian & Mauer, René, 2024. "Who gets the money? A qualitative analysis of fintech lending and credit scoring through the adoption of AI and alternative data," Technological Forecasting and Social Change, Elsevier, vol. 205(C).
    182. Tut, Daniel, 2022. "Debt Dynamic, Debt Dispersion and Corporate Governance," MPRA Paper 113673, University Library of Munich, Germany.
    183. Arnold, M., 2017. "The impact of central clearing on banks’ lending discipline," Journal of Financial Markets, Elsevier, vol. 36(C), pages 91-114.
    184. Chune Young Chung & Changhwan Choi & Do Thi Thanh Nhan, 2025. "CEO political orientation and loan contract," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-36, December.
    185. Raffaele Gallo, 2019. "The loan cost advantage of public firms and financial market conditions: evidence from the European syndicated loan market," Temi di discussione (Economic working papers) 1255, Bank of Italy, Economic Research and International Relations Area.
    186. Marta Degl'Innocenti & Si Zhou & Yue Zhou, 2024. "Lending and risk controls for BHCs after the Dodd–Frank act," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 47(2), pages 275-315, June.
    187. Massimiliano Affinito & Edoardo Tagliaferri, 2010. "Why do (or did?) banks securitize their loans? Evidence from Italy," Temi di discussione (Economic working papers) 741, Bank of Italy, Economic Research and International Relations Area.
    188. Alper Kara & David Marques‐Ibanez & Steven Ongena, 2019. "Securitization and credit quality in the European market," European Financial Management, European Financial Management Association, vol. 25(2), pages 407-434, March.
    189. Fatica, Serena & Panzica, Roberto & Rancan, Michela, 2021. "The pricing of green bonds: Are financial institutions special?," Journal of Financial Stability, Elsevier, vol. 54(C).
    190. Gabriel J. Power & Issouf Soumaré & Djerry C. Tandja M., 2022. "Certification by financial and legal advisors in private debt markets," The Financial Review, Eastern Finance Association, vol. 57(4), pages 893-923, November.
    191. Yun Lou & Clemens A. Otto, 2020. "Debt Heterogeneity and Covenants," Management Science, INFORMS, vol. 66(1), pages 70-92, January.
    192. He, Wen & Hu, Maggie (Rong), 2016. "Religion and bank loan terms," Journal of Banking & Finance, Elsevier, vol. 64(C), pages 205-215.
    193. Leslie Sheng Shen, 2021. "Global Banking and Firm Financing: A Double Adverse Selection Channel of International Transmission," International Finance Discussion Papers 1325, Board of Governors of the Federal Reserve System (U.S.).
    194. Ongena, Steven & Osberghaus, Alex & Schepens, Glenn, 2025. "Joining forces: why banks syndicate credit," Working Paper Series 3149, European Central Bank.
    195. Sharma, Vivek, 2025. "Real effects of bank shocks," Journal of Financial Stability, Elsevier, vol. 81(C).
    196. Christophe J. GODLEWSKI, 2008. "Banking Environment, Agency Costs, and Loan Syndication : A Cross-Country Analysis," Working Papers of LaRGE Research Center 2008-08, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    197. Liu, Wenchien & Miu, Peter & Chang, Yuanchen & Ozdemir, Bogie, 2012. "Information asymmetry and bank regulation: Can the spread of debt contracts be explained by recovery rates?," Journal of Financial Intermediation, Elsevier, vol. 21(1), pages 123-150.
    198. Acharya, Viral V. & Imbierowicz, Björn & Steffen, Sascha & Teichmann, Daniel, 2019. "Does the lack of financial stability impair the transmission of monetary policy?," CFS Working Paper Series 620, Center for Financial Studies (CFS).
    199. Iftekhar Hasan & Hui Li & Haizhi Wang & Yun Zhu, 2021. "Do Affiliated Bankers on Board Enhance Corporate Social Responsibility? US Evidence," Sustainability, MDPI, vol. 13(6), pages 1-27, March.
    200. Albring, Susan M. & Khurana, Inder K. & Nejadmalayeri, Ali & Pereira, Raynolde, 2011. "Managerial compensation and the debt placement decision," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1445-1456.
    201. Godlewski, Christophe, 2008. "Duration of loan arrangement and syndicate organization," MPRA Paper 10953, University Library of Munich, Germany.
    202. de Haas, Ralph & van Horen, Neeltje, 2009. "The strategic behavior of banks during a financial crisis; evidence from the syndicated loan market," MPRA Paper 14164, University Library of Munich, Germany.
    203. Norden, Lars & Wagner, Wolf, 2008. "Credit derivatives and loan pricing," Journal of Banking & Finance, Elsevier, vol. 32(12), pages 2560-2569, December.
    204. Dewally, Michaël & Shao, Yingying, 2014. "Liquidity crisis, relationship lending and corporate finance," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 223-239.
    205. Roman, Raluca A., 2020. "Winners and losers from supervisory enforcement actions against banks," Journal of Corporate Finance, Elsevier, vol. 60(C).
    206. Manthos D Delis & Sizhe Hong & Nikos Paltalidis & Dennis Philip, 2022. "Forward Guidance and Corporate Lending [Measuring euro area monetary policy]," Review of Finance, European Finance Association, vol. 26(4), pages 899-935.
    207. Jere R. Francis & Wei Wang, 2021. "Common Auditors and Private Bank Loans," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 793-832, March.
    208. Giau Bui, Dien & Chen, Yehning & Lin, Chih-Yung & Lin, Tse-Chun, 2021. "Risk-taking of bank CEOs and corporate innovation," Journal of International Money and Finance, Elsevier, vol. 115(C).
    209. Jong Chool Park & Qiang Wu, 2009. "Financial Restatements, Cost of Debt and Information Spillover: Evidence From the Secondary Loan Market," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(9‐10), pages 1117-1147, November.
    210. Irani, Rustom M & Iyer, Rajkamal & Meisenzahl, Ralf R & Peydró, José-Luis, 2018. "The Rise of Shadow Banking: Evidence from Capital Regulation," CEPR Discussion Papers 12913, Centre for Economic Policy Research.
    211. Luis Araujo & Elton Beqiraj & David Hong & Sotirios Kokas & Raoul Minetti, 2026. "Banking Structures, Liquidity, and Macroeconomic Stability," CIMEO Working Paper Series 202, Centre for Investigation and Modelling of Experimental Observations (CIMEO).
    212. Chen, Jing & Liu, Xinghe & Ou, Fenghao & Lu, Meiting & Wang, Peipei, 2023. "Green lending and stock price crash risk: Evidence from the green credit reform in China," Journal of International Money and Finance, Elsevier, vol. 130(C).
    213. Wenlian Gao & Feifei Zhu & Kai Chen, 2023. "The role of bank lenders in firm leverage adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 63-97, February.
    214. Li, Wenyi & Li, Tang & Shi, Wenhao & Long, Yuqing & Liu, Wenyu, 2025. "A protective shield for banks: How fintech curbs earnings manipulation through information transparency and financing constraints," International Review of Financial Analysis, Elsevier, vol. 107(C).
    215. Christophe J. Godlewski, 2025. "Language and private debt renegotiation," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 134-171, January.
    216. Kuang, Chun & Liu, Zijie & Zhu, Wenyu, 2021. "Need for speed: High-speed rail and firm performance," Journal of Corporate Finance, Elsevier, vol. 66(C).
    217. Kleimeier, S. & Chaudhry, S.M., 2013. "Negotiation and the clustering of corporate loan spreads," Research Memorandum 012, Maastricht University, Graduate School of Business and Economics (GSBE).
    218. Gong, Di, 2015. "Essays on banking and financial innovation," Other publications TiSEM 9f8c23b7-7139-4cc6-be80-4, Tilburg University, School of Economics and Management.
    219. Xia Chen & Qiang Cheng & Alvis K. Lo & Xin Wang, 2023. "CEO contractual protection and debt contracting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(9-10), pages 1671-1714, October.
    220. Tumer-Alkan, G., 2008. "Essays on banking," Other publications TiSEM 8d5ec521-4702-4e75-bc79-a, Tilburg University, School of Economics and Management.
    221. Ju-Fang Yen & Chih-Yung Lin & Yan-Shing Chen & Ying-Chen Huang, 2015. "Founding Family Firms and Bank Loan Contracts," Journal of Financial Services Research, Springer;Western Finance Association, vol. 48(1), pages 53-82, August.
    222. Lu, Mengting & Shu, Haibing, 2026. "The impact of transportation network development on firm investment decisions: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 95(C).
    223. Po‐Chang Chen & William J. Moser & Gans Narayanamoorthy, 2023. "Are all types of real transaction management equal in the eyes of bank lenders?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(3-4), pages 680-715, March.
    224. Lu, Chien-Lin & Lin, Chih-Yung & Lin, Tse-Chun & Miao, Bin, 2024. "Financial statement disaggregation and bank loan pricing," Journal of Empirical Finance, Elsevier, vol. 79(C).
    225. Allen, Jason & Paligorova, Teodora, 2015. "Bank loans for private and public firms in a liquidity crunch," Journal of Financial Stability, Elsevier, vol. 18(C), pages 106-116.
    226. Matthew Plosser & João A. C. Santos, 2014. "Banks' incentives and the quality of internal risk models," Staff Reports 704, Federal Reserve Bank of New York.
    227. Judson Caskey & Kanyuan Huang & Daniel Saavedra, 2023. "Noncompliance with SEC regulations: evidence from timely loan disclosures," Review of Accounting Studies, Springer, vol. 28(1), pages 126-163, March.
    228. Guarino, Antonio & Harmgart, Heike & Huck, Steffen, 2011. "Aggregate information cascades," Games and Economic Behavior, Elsevier, vol. 73(1), pages 167-185, September.
    229. Hongmei Wen & Xin Sui & Shaopeng Lu, 2022. "Study on Effect of Consumer Information in Personal Credit Risk Evaluation," Complexity, John Wiley & Sons, vol. 2022(1).
    230. Benmelech, Efraim & Dlugosz, Jennifer & Ivashina, Victoria, 2012. "Securitization without adverse selection: The case of CLOs," Journal of Financial Economics, Elsevier, vol. 106(1), pages 91-113.
    231. Angela Gallo & Min Park, 2023. "CLO (Collateralized Loan Obligation) Market and Corporate Lending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(5), pages 1077-1118, August.
    232. Mohammed Saharti, 2025. "Bank Mergers, Information Asymmetry, and the Architecture of Syndicated Loans: Global Evidence, 1982–2020," Risks, MDPI, vol. 13(9), pages 1-23, September.
    233. Sung C. Bae & Kiyoung Chang & Ha-Chin Yi, 2018. "Corporate social responsibility, credit rating, and private debt contracting: new evidence from syndicated loan market," Review of Quantitative Finance and Accounting, Springer, vol. 50(1), pages 261-299, January.
    234. Jeong-Bon Kim & Judy S. L. Tsui & Cheong H. Yi, 2011. "The voluntary adoption of International Financial Reporting Standards and loan contracting around the world," Review of Accounting Studies, Springer, vol. 16(4), pages 779-811, December.
    235. Saki Bigio & Adrien d'Avernas, 2019. "Financial Risk Capacity," NBER Working Papers 26561, National Bureau of Economic Research, Inc.
    236. Theodora Bermpei & Antonios Nikolaos Kalyvas & Simon Wolfe, 2024. "Does IRS Monitoring Matter for the Cost of Bank Loans?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(2), pages 153-188, June.
    237. Jones, Jeffrey S. & Lee, Wayne Y. & Yeager, Timothy J., 2013. "Valuation and systemic risk consequences of bank opacity," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 693-706.
    238. Behn, Markus & Schramm, Alexander, 2020. "The impact of G-SIB identification on bank lending: evidence from syndicated loans," Working Paper Series 2479, European Central Bank.
    239. Delis, Manthos D. & Hasan, Iftekhar & To, Thomas Y. & Wu, Eliza, 2024. "The bright side of bank lobbying: Evidence from the corporate loan market," Journal of Corporate Finance, Elsevier, vol. 86(C).
    240. Ahmed, Ammad & Monem, Reza M. & Delaney, Deborah & Ng, Chew, 2017. "Gender diversity in corporate boards and continuous disclosure: Evidence from Australia," Journal of Contemporary Accounting and Economics, Elsevier, vol. 13(2), pages 89-107.
    241. Julian Mattes & Sascha Steffen & Mark Wahrenburg, 2013. "Do Information Rents in Loan Spreads Persist over the Business Cycles?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 43(2), pages 175-195, April.
    242. Korgaonkar, Sanket, 2023. "The agency costs of tranching: Evidence from RMBS," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    243. Deli Wang & Ke Peng & Kaiye Tang & Yewei Wu, 2022. "Does Fintech Development Enhance Corporate ESG Performance? Evidence from an Emerging Market," Sustainability, MDPI, vol. 14(24), pages 1-21, December.
    244. Altınkılıç, Oya & Balashov, Vadim S. & Hansen, Robert S., 2019. "Investment bank monitoring and bonding of security analysts’ research," Journal of Accounting and Economics, Elsevier, vol. 67(1), pages 98-119.
    245. Ann-Kristin Achleitner & Reiner Braun & Eva Lutz & Florian Tappeiner, 2018. "Private equity group reputation and financing structures in German leveraged buyouts," Journal of Business Economics, Springer, vol. 88(3), pages 363-392, May.
    246. Beyene, Winta & Delis, Manthos D. & de Greiff, Kathrin & Ongena, Steven, 2025. "Bond versus banks financing in the climate transition: The role of stranded-asset risk," SAFE Working Paper Series 456, Leibniz Institute for Financial Research SAFE.
    247. Jing Wu & He Li & Ling Liu & Yun Xu, 2021. "Prior ties, investor role, and venture capital syndication," Small Business Economics, Springer, vol. 56(4), pages 1449-1459, April.
    248. Sylvain Bourjade, 2021. "The role of expertise in syndicate formation," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(4), pages 844-870, November.
    249. Ryan Ball & Robert M. Bushman & Florin P. Vasvari, 2008. "The Debt‐Contracting Value of Accounting Information and Loan Syndicate Structure," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 46(2), pages 247-287, May.
    250. Allen N. Berger & Tanakorn Makaew & Raluca Roman, 2015. "Did bank borrowers benefit from the TARP program : the effects of TARP on loan contract terms," Research Working Paper RWP 15-11, Federal Reserve Bank of Kansas City.
    251. Sangwhi Lee & Sangsoo Park, 2009. "Information Transparency, Lender Protection, and Credit Spread: Evidence from Chinese Debt Market," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 12(3), pages 151-168, December.
    252. Howcroft, Barry & Kara, Alper & Marques-Ibanez, David, 2014. "Determinants of syndicated lending in European banks and the impact of the financial crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 32(C), pages 473-490.
    253. Zhang, Han & Li, Yuan & Xiao, Chenlei & Wang, Xiaoyan, 2024. "Can the deregulation of market access reduce the cost of corporate debt financing: A quasinatural experiment based on the “negative list for market access” pilot project," International Review of Financial Analysis, Elsevier, vol. 91(C).
    254. Jie Chen & Woon Sau Leung & Wei Song & Davide Avino, 2018. "Does CDS trading affect risk-taking incentives in managerial compensation?," Working Papers 2018-19, Swansea University, School of Management.
    255. Dina El-Mahdy & Myung Park, 2014. "Internal control quality and information asymmetry in the secondary loan market," Review of Quantitative Finance and Accounting, Springer, vol. 43(4), pages 683-720, November.
    256. Anne Beatty, 2008. "Discussion of The Debt‐Contracting Value of Accounting Information and Loan Syndicate Structure," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 46(2), pages 289-295, May.
    257. D’Acunto, Francesco & Liu, Ryan & Pflueger, Carolin & Weber, Michael, 2018. "Flexible prices and leverage," Journal of Financial Economics, Elsevier, vol. 129(1), pages 46-68.
    258. Jin, Yi & Liu, Sinuo & Sun, Yongping & Fang, Jie, 2024. "Energy transition and housing market bubbles: Evidence from prefecture cities in China," Energy Economics, Elsevier, vol. 133(C).
    259. Mueller, Isabella & Sfrappini, Eleonora, 2025. "Climate change-related regulatory risks and bank lending," Journal of International Economics, Elsevier, vol. 158(C).
    260. Pessarossi, Pierre & Godlewski, Christophe J. & Weill, Laurent, 2012. "Foreign bank lending and information asymmetries in China: Empirical evidence from the syndicated loan market," Journal of Asian Economics, Elsevier, vol. 23(4), pages 423-433.
    261. Taylor D. Nadauld & Michael S. Weisbach, 2011. "Did Securitization Affect the Cost of Corporate Debt?," NBER Working Papers 16849, National Bureau of Economic Research, Inc.
    262. Marie-Hélène Broihanne & Christophe J. GODLEWSKI, 2014. "Building reputation on the syndicated lending market: A participant bank perspective," Working Papers of LaRGE Research Center 2014-02, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    263. Tseng, Jauling, 2024. "Effect of information disclosure on firms' direct financing in emerging securities markets," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 54-68.
    264. Jiang, Shuyi & Li, Jay Y., 2022. "He who lends knows," Journal of Banking & Finance, Elsevier, vol. 138(C).
    265. Ge, Wenxia & Kim, Jeong-Bon & Li, Tiemei & Li, Yutao, 2018. "Operations in offshore financial centers and loan syndicate structure," Journal of Empirical Finance, Elsevier, vol. 45(C), pages 157-180.
    266. Demiroglu, Cem & James, Christopher, 2015. "Bank loans and troubled debt restructurings," Journal of Financial Economics, Elsevier, vol. 118(1), pages 192-210.
    267. Acharya, Viral & Hirsch, Christian & Eisert, Tim & Eufinger, Christian, 2014. "Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans," CEPR Discussion Papers 10108, Centre for Economic Policy Research.
    268. Jia, Zhehao & Li, Donghui & Shi, Yukun & Xing, Lu, 2023. "Firm-level media news, bank loans, and the role of institutional environments," Journal of Corporate Finance, Elsevier, vol. 83(C).
    269. Gadanecz, Blaise & Kara, Alper & Molyneux, Philip, 2012. "Asymmetric information among lending syndicate members and the value of repeat lending," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 913-935.
    270. Chen, Peter F. & He, Shaohua & Ma, Zhiming & Stice, Derrald, 2016. "The information role of audit opinions in debt contracting," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 121-144.
    271. Francis, Bill & Hasan, Iftekhar & Wu, Qiang & Koetter, Michael, 2012. "Corporate boards and bank loan contracting," Bank of Finland Research Discussion Papers 14/2012, Bank of Finland.
    272. Elyasiani, Elyas & Zhang, Ling, 2018. "CEO entrenchment and loan syndication," The Quarterly Review of Economics and Finance, Elsevier, vol. 67(C), pages 334-346.
    273. Qiu, Jiaping & Yu, Fan, 2012. "Endogenous liquidity in credit derivatives," Journal of Financial Economics, Elsevier, vol. 103(3), pages 611-631.
    274. Viral V. Acharya & Lea Borchert & Maximilian Jager & Sascha Steffen, 2020. "Kicking the Can Down the Road: Government Interventions in the European Banking Sector," NBER Working Papers 27537, National Bureau of Economic Research, Inc.
    275. Seraina C. Anagnostopoulou & Aikaterini C. Ferentinou & Panagiotis A. Tsaousis & Andrianos E. Tsekrekos, 2018. "The Options Market Reaction to Bank Loan Announcements," Journal of Financial Services Research, Springer;Western Finance Association, vol. 53(1), pages 99-139, February.
    276. Robert M. Bushman & Regina Wittenberg‐Moerman, 2012. "The Role of Bank Reputation in “Certifying” Future Performance Implications of Borrowers’ Accounting Numbers," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 50(4), pages 883-930, September.
    277. Meuleman, Miguel & De Maeseneire, Wouter, 2012. "Do R&D subsidies affect SMEs’ access to external financing?," Research Policy, Elsevier, vol. 41(3), pages 580-591.
    278. Chen, Liqiang & Fan, Hong, 2017. "CEO inside debt and bank loan syndicate structure," Review of Financial Economics, Elsevier, vol. 34(C), pages 74-85.
    279. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco, 2017. "Do banks and industrial companies have equal access to reputable underwriters in debt markets?," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 176-202.
    280. Sina, A. & Billio, M. & Dufour, A. & Rocciolo, F. & Varotto, S., 2025. "The systemic risk of leveraged and covenant-lite loan syndications," International Review of Financial Analysis, Elsevier, vol. 97(C).
    281. Michèle Breton & Tiguéné Nabassaga, 2025. "Restrictive Clauses in Loan Contracts: A Sequential Stackelberg Game Interpretation," Dynamic Games and Applications, Springer, vol. 15(1), pages 28-47, March.
    282. Wagner, Wolf & Gong, Di, 2016. "Systemic risk-taking at banks: Evidence from the pricing of syndicated loans," CEPR Discussion Papers 11150, Centre for Economic Policy Research.
    283. Isil Erel & Taylor D. Nadauld & René M. Stulz, 2011. "Why Did U.S. Banks Invest in Highly-Rated Securitization Tranches?," NBER Working Papers 17269, National Bureau of Economic Research, Inc.
    284. Luigi Guiso & Raoul Minetti, 2010. "The Structure of Multiple Credit Relationships: Evidence from U.S. Firms," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1037-1071, September.
    285. Müller, Karsten, 2022. "Busy bankruptcy courts and the cost of credit," Journal of Financial Economics, Elsevier, vol. 143(2), pages 824-845.
    286. De Novellis, G. & Musile Tanzi, P. & Ranalli, M.G. & Stanghellini, E., 2024. "Leveraged finance exposure in the banking system: Systemic risk and interconnectedness," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 90(C).
    287. Ambrocio, Gene & Gu, Xian & Hasan, Iftekhar & Politsidis, Panagiotis, 2020. "The Diplomacy Discount in Global Syndicated Loans," MPRA Paper 103608, University Library of Munich, Germany.
    288. Zhiming Ma & Derrald Stice & Christopher Williams, 2022. "What's my style? Supply‐side determinants of debt covenant inclusion," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(3-4), pages 461-490, March.
    289. Ambrocio, Gene & Hasan, Iftekhar, 2018. "Private information and lender discretion across time and institutions," Bank of Finland Research Discussion Papers 17/2018, Bank of Finland.
    290. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco, 2021. "Non-pricing drivers of underwriters’ market shares in corporate bond markets," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 671-693.
    291. Adam, Tim R. & Streitz, Daniel, 2014. "Hold-Up and the Use of Performance-Sensitive Debt," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 476, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    292. Kim, Young Sang & Kim, Yura & Yi, Ha-Chin, 2021. "Vice or virtue? The impact of earnings management on bank loan agreements," International Review of Economics & Finance, Elsevier, vol. 73(C), pages 303-324.
    293. Jae B. Kim & Pervin Shroff & Dushyantkumar Vyas & Regina Wittenberg‐Moerman, 2018. "Credit Default Swaps and Managers’ Voluntary Disclosure," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 56(3), pages 953-988, June.
    294. A. Melih Küllü & Steven Raymar, 2018. "Groups, Pricing, and Cost of Debt: Evidence from Turkey," JRFM, MDPI, vol. 11(1), pages 1-31, March.
    295. Manthos D. Delis & Kathrin de Greiff & Maria Iosifidi & Steven Ongena, 2024. "Being stranded with fossil fuel reserves? Climate policy risk and the pricing of bank loans," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 33(3), pages 239-265, August.
    296. Franke, Günter & Krahnen, Jan Pieter, 2017. "SME funding without banks? On the interplay of banks and markets," SAFE White Paper Series 44, Leibniz Institute for Financial Research SAFE.
    297. Filippo De Marco & Silvio Petriconi, 2019. "Bank Competition and Information Production," BAFFI CAREFIN Working Papers 19130, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    298. Dahiya, Sandeep & Hallak, Issam & Matthys, Thomas, 2025. "Cash holdings and relationship lending," Journal of Corporate Finance, Elsevier, vol. 94(C).
    299. Dzhamalova, Valeriia, 2016. "Capital Structure of Borrowers and Lenders: An Empirical Analysis," Knut Wicksell Working Paper Series 2016/1, Lund University, Knut Wicksell Centre for Financial Studies.
    300. Isil Erel & Yeejin Jang & Michael S. Weisbach, 2020. "The Corporate Finance of Multinational Firms," NBER Working Papers 26762, National Bureau of Economic Research, Inc.
    301. Jie (Jack) He & Lantian Liang & Hui (Grace) Wang & Han Xia, 2024. "Networking Behind the Scenes: Institutional Cross-Industry Holdings and Corporate Loan Markets," Management Science, INFORMS, vol. 70(7), pages 4932-4952, July.
    302. Beyhaghi, Mehdi & Nguyen, Ca & Wald, John K., 2019. "Institutional investors and loan dynamics: Evidence from loan renegotiations," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 482-505.
    303. Wu, Xufeng & Huang, Ying-Chen & Lin, Chih-Yung, 2025. "Foreign branch and bank lending decisions: Evidence from high-risk borrowers," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    304. Andrea K. Down & Christopher D. Williams & Regina Wittenberg-Moerman, 2024. "Strategic syndication: is bad news shared in loan syndicates?," Review of Accounting Studies, Springer, vol. 29(1), pages 194-236, March.
    305. Iftekhar Hasan & Stefano Manfredonia, 2021. "Productivity, managers' social connections and the Great Recession," CEIS Research Paper 507, Tor Vergata University, CEIS, revised 10 Mar 2021.
    306. Tseng, Jauling, 2025. "Factors and quantile differences influencing funding volumes of successful crowdfunding campaigns on reward-based platforms in developed, developing, and emerging crowdfunding markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 104(C).
    307. Grosse-Rueschkamp, Benjamin & Steffen, Sascha & Streitz, Daniel, 2019. "A capital structure channel of monetary policy," Journal of Financial Economics, Elsevier, vol. 133(2), pages 357-378.
    308. Delis, Manthos & Iosifidi, Maria & Papadopoulos, Panagiotis, 2020. "Blessing or curse? Government funding of deposit insurance and corporate lending," MPRA Paper 99153, University Library of Munich, Germany.
    309. García Lara, Juan Manuel & García Osma, Beatriz & Penalva, Fernando, 2016. "Accounting conservatism and firm investment efficiency," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 221-238.
    310. Chu, Yongqiang, 2016. "Debt renegotiation and debt overhang: Evidence from lender mergers," MPRA Paper 72403, University Library of Munich, Germany.
    311. Agarwal, Sumit & Ben-David, Itzhak, 2018. "Loan prospecting and the loss of soft information," Journal of Financial Economics, Elsevier, vol. 129(3), pages 608-628.
    312. Miroslav Gabrovski & Ioannis Kospentaris & Lucie Lebeau, 2024. "The Macroeconomics of Labor, Credit and Financial Market Imperfections," Working Papers 2409, Federal Reserve Bank of Dallas.
    313. Christophe Godlewski, 2009. "L’organisation des syndicats bancaires en France:taille, concentration et réputation," Revue Finance Contrôle Stratégie, revues.org, vol. 12(3), pages 37-63, September.
    314. Isabella Müller & Felix Noth & Lena Tonzer, 2022. "A Note on the Use of Syndicated Loan Data," Tinbergen Institute Discussion Papers 22-064/IV, Tinbergen Institute.
    315. Almaghrabi, Khadija S., 2021. "Borrowing during periods of policy uncertainty: The role of foreign lenders," International Review of Financial Analysis, Elsevier, vol. 77(C).
    316. Kristian S. Blickle & Quirin Fleckenstein & Sebastian Hillenbrand & Anthony Saunders, 2020. "Do Lead Arrangers Retain Their Lead Shares?," Staff Reports 922, Federal Reserve Bank of New York.
    317. Herpfer, Christoph, 2021. "The role of bankers in the U.S. syndicated loan market," Journal of Accounting and Economics, Elsevier, vol. 71(2).
    318. Lin, Chen & Ma, Yue & Malatesta, Paul & Xuan, Yuhai, 2013. "Corporate ownership structure and the choice between bank debt and public debt," Journal of Financial Economics, Elsevier, vol. 109(2), pages 517-534.
    319. De Novellis, G. & Musile Tanzi, P. & Stanghellini, E., 2024. "Covenant-lite agreement and credit risk: A key relationship in the leveraged loan market," Research in International Business and Finance, Elsevier, vol. 70(PB).
    320. Berger, Philip G. & Minnis, Michael & Sutherland, Andrew, 2017. "Commercial lending concentration and bank expertise: Evidence from borrower financial statements," Journal of Accounting and Economics, Elsevier, vol. 64(2), pages 253-277.
    321. Lugo, Stefano, 2019. "Insider ownership and the cost of debt capital: Evidence from bank loans," International Review of Financial Analysis, Elsevier, vol. 63(C), pages 357-368.
    322. Jiang, Liangliang & Wang, Chong, 2024. "Lending corruption and bank loan contracting: Cross-Country evidence," Journal of Contemporary Accounting and Economics, Elsevier, vol. 20(2).
    323. Houston, Joel F. & Lin, Chen & Lin, Ping & Ma, Yue, 2010. "Creditor rights, information sharing, and bank risk taking," Journal of Financial Economics, Elsevier, vol. 96(3), pages 485-512, June.
    324. Chan, Sok-Gee & Aktan, Bora & Burton, Bruce & Koh, Eric H.Y., 2021. "The impact of soft information and institutional quality on foreign bank efficiency – Evidence from ASEAN-5 countries," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 23-32.
    325. Chen, Jiayuan & Gong, Di & Muckley, Cal, 2020. "Stock market illiquidity, bargaining power and the cost of borrowing," Journal of Empirical Finance, Elsevier, vol. 58(C), pages 181-206.
    326. Hans Degryse & Sotirios Kokas & Raoul Minetti & Valentina Peruzzi, 2025. "Bank Information and Firm Growth: Microeconomic Evidence from the US Credit Market," Journal of Financial Services Research, Springer;Western Finance Association, vol. 68(3), pages 381-422, December.
    327. Santos, João A.C. & Nigro, Peter, 2009. "Is the secondary loan market valuable to borrowers?," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(4), pages 1410-1428, November.
    328. Ferrer, Elena & Suárez, Nuria, 2025. "When opaque firms borrow: The role of investor sentiment," International Review of Financial Analysis, Elsevier, vol. 105(C).
    329. Jarrow, Robert A., 2011. "Credit market equilibrium theory and evidence: Revisiting the structural versus reduced form credit risk model debate," Finance Research Letters, Elsevier, vol. 8(1), pages 2-7, March.
    330. Victoria Ivashina & Boris Vallée, 2025. "Weak Credit Covenants," Management Science, INFORMS, vol. 71(12), pages 9998-10021, December.
    331. Aguir, Wael & Ater, Brandon & Anabila, Andrew A. & Sobngwi, Christian Kuiate, 2022. "The role of shared auditors in loan contracts," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 87-97.
    332. Marques, Manuel O. & Pinto, João M., 2020. "A comparative analysis of ex ante credit spreads: Structured finance versus straight debt finance," Journal of Corporate Finance, Elsevier, vol. 62(C).
    333. Anna Bergman Brown, 2016. "Institutional Differences and International Private Debt Markets: A Test Using Mandatory IFRS Adoption," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 54(3), pages 679-723, June.
    334. Hasan, Md Mahmudul, 2025. "Private lenders and borrowers' internal control-related private information," Advances in accounting, Elsevier, vol. 68(C).
    335. Paulo P. Alves & M. Ricardo Cunha & Luís K. Pacheco & João M. Pinto, 2022. "How Banks Price Loans for LBOs: an Empirical Analysis of Spread Determinants ," Journal of Financial Services Research, Springer;Western Finance Association, vol. 62(3), pages 163-200, December.
    336. Liqiang Chen & Hong Fan, 2017. "CEO inside debt and bank loan syndicate structure," Review of Financial Economics, John Wiley & Sons, vol. 34(1), pages 74-85, September.
    337. Nguyen, Thanh Cong, 2021. "Economic policy uncertainty and bank stability: Does bank regulation and supervision matter in major European economies?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    338. Graham, John R. & Li, Si & Qiu, Jiaping, 2008. "Corporate misreporting and bank loan contracting," Journal of Financial Economics, Elsevier, vol. 89(1), pages 44-61, July.
    339. Chandera, Yane & Setia-Atmaja, Lukas & Utama, Cynthia Afriani & Husodo, Zaäfri Ananto, 2021. "Ownership dispersion across large shareholders and loan-syndicate structure," Research in International Business and Finance, Elsevier, vol. 55(C).
    340. Riddha Basu & James P. Naughton, 2020. "The Real Effects of Financial Statement Recognition: Evidence from Corporate Credit Ratings," Management Science, INFORMS, vol. 66(4), pages 1672-1691, April.
    341. Pessarossi, Pierre & Godlewski, Christophe J. & Weill, Laurent, 2010. "Foreign bank lending and information asymmetries in China," BOFIT Discussion Papers 20/2010, Bank of Finland Institute for Emerging Economies (BOFIT).
    342. Maarten de Ridder, 2016. "Investment in Productivity and the Long-Run Effect of Financial Crises on Output," Discussion Papers 1630, Centre for Macroeconomics (CFM).
    343. David C. Ling & Andy Naranjo & Benjamin Scheick, 2021. "There is no place like home: Information asymmetries, local asset concentration, and portfolio returns," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(1), pages 36-74, March.
    344. Yin-Siang Huang & Iftekhar Hasan & Ying-Chen Huang & Chih-Yung Lin, 2021. "Political Uncertainty and Bank Loan Contracts: Does Government Quality Matter?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 60(2), pages 157-185, December.
    345. Yan-Shing Chen & Chung-Hua Shen & Chih-Yung Lin, 2014. "The Benefits of Political Connection: Evidence from Individual Bank-Loan Contracts," Journal of Financial Services Research, Springer;Western Finance Association, vol. 45(3), pages 287-305, June.
    346. Chen, Jie & Leung, Woon Sau & Song, Wei & Avino, Davide, 2023. "Does CDS trading affect risk-taking incentives in managerial compensation?," Journal of Banking & Finance, Elsevier, vol. 151(C).
    347. May, Anthony D., 2014. "Corporate liquidity and the contingent nature of bank credit lines: Evidence on the costs and consequences of bank default," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 410-429.
    348. Godlewski, Christophe J., 2014. "Bank loans and borrower value during the global financial crisis: Empirical evidence from France," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 28(C), pages 100-130.
    349. Roberto Liebscher & Thomas Mählmann, 2017. "Are Professional Investment Managers Skilled? Evidence from Syndicated Loan Portfolios," Management Science, INFORMS, vol. 63(6), pages 1892-1918, June.
    350. Cao, Wenbin & Duan, Xiaoman & Niu, Xu, 2023. "Access to finance, bureaucracy, and capital allocation efficiency," Journal of Economics and Business, Elsevier, vol. 125.
    351. Yongheng Deng & Maggie (Rong) Hu & Anand Srinivasan, 2017. "Information Asymmetry and Organizational Structure: Evidence from REITs," The Journal of Real Estate Finance and Economics, Springer, vol. 55(1), pages 32-64, July.
    352. Abdul Halim, Zairihan & How, Janice & Verhoeven, Peter & Hassan, M. Kabir, 2019. "The value of certification in Islamic bond offerings," Journal of Corporate Finance, Elsevier, vol. 55(C), pages 141-161.
    353. Vitaly M. Bord & João A. C. Santos, 2012. "The rise of the originate-to-distribute model and the role of banks in financial intermediation," Economic Policy Review, Federal Reserve Bank of New York, issue Jul, pages 21-34.
    354. Balasubramanyan, Lakshmi & Berger, Allen N. & Koepke, Matthew M., 2019. "How do lead banks use their private information about loan quality in the syndicated loan market?," Journal of Financial Stability, Elsevier, vol. 43(C), pages 53-78.
    355. Gregor Dorfleitner & Eva‐Maria Oswald, 2016. "Repayment behavior in peer‐to‐peer microfinancing: Empirical evidence from Kiva," Review of Financial Economics, John Wiley & Sons, vol. 30(1), pages 45-59, September.
    356. Tamara Vovchak, 2017. "Bank Credit, Liquidity Shocks and Firm Performance: Evidence from the Financial Crisis of 2007-2009," CERGE-EI Working Papers wp584, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    357. Bing Chen & Wei Chen & Xiaohui Yang, 2025. "Does Information Asymmetry Affect Firm Disclosure? Evidence from Mergers and Acquisitions of Financial Institutions," JRFM, MDPI, vol. 18(2), pages 1-28, January.
    358. Donghang Zhang & Yafei Zhang & Yijia (Eddie) Zhao, 2024. "Lending Relationships and the Pricing of Syndicated Loans," Management Science, INFORMS, vol. 70(2), pages 1113-1136, February.
    359. Gatev, Evan & Strahan, Philip E., 2009. "Liquidity risk and syndicate structure," Journal of Financial Economics, Elsevier, vol. 93(3), pages 490-504, September.
    360. Avdjiev, Stefan & Serena, Jose Maria, 2025. "Banks’ market capital and the international risk taking channel of US monetary policy," Journal of International Economics, Elsevier, vol. 157(C).
    361. Xiaofei Pan & Gary Gang Tian, 2020. "Bank Work Experience Versus Political Connections: Which Matters for Bank Loan Financing?," International Review of Finance, International Review of Finance Ltd., vol. 20(2), pages 351-382, June.
    362. Gustafson, Matthew T. & Ivanov, Ivan T. & Meisenzahl, Ralf R., 2021. "Bank monitoring: Evidence from syndicated loans," Journal of Financial Economics, Elsevier, vol. 139(2), pages 452-477.
    363. Theodora Bermpei & Antonios Nikolaos Kalyvas & Leone Leonida, 2021. "Local Public Corruption and Bank Lending Activity in the United States," Journal of Business Ethics, Springer, vol. 171(1), pages 73-98, June.
    364. Yang-pin Shen & Chou-Yen Wu & Chiuling Lu, 2023. "U.S. REIT banking relationships and syndicated loan pricing," Review of Quantitative Finance and Accounting, Springer, vol. 61(2), pages 447-479, August.
    365. Champagne, Claudia & Kryzanowski, Lawrence, 2007. "Are current syndicated loan alliances related to past alliances?," Journal of Banking & Finance, Elsevier, vol. 31(10), pages 3145-3161, October.
    366. Rustom M. Irani & Ralf R. Meisenzahl, 2015. "Loan Sales and Bank Liquidity Risk Management: Evidence from a U.S. Credit Register," Finance and Economics Discussion Series 2015-1, Board of Governors of the Federal Reserve System (U.S.).
    367. Ting Chen & Xiumin Martin, 2011. "Do Bank‐Affiliated Analysts Benefit from Lending Relationships?," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 49(3), pages 633-675, June.
    368. Hasan, Iftekhar & Politsidis, Panagiotis & Sharma, Zenu, 2020. "Bank lending during the COVID-19 pandemic," MPRA Paper 103565, University Library of Munich, Germany.
    369. Amiram, Dan & Beaver, William H. & Landsman, Wayne R. & Zhao, Jianxin, 2017. "The effects of credit default swap trading on information asymmetry in syndicated loans," Journal of Financial Economics, Elsevier, vol. 126(2), pages 364-382.
    370. Bill B. Francis & Ning Ren & Xian Sun & Qiang Wu, 2024. "Do Better Managers Get Better Loan Contracts?," Abacus, Accounting Foundation, University of Sydney, vol. 60(3), pages 539-577, September.
    371. Kara, A. & Marques-Ibanez, D. & Ongena, S., 2011. "Securitization and Lending Standards : Evidence from the Wholesale Loan Market," Discussion Paper 2011-081, Tilburg University, Center for Economic Research.
    372. Vitaly M. Bord & João A.C. Santos, 2015. "Does Securitization of Corporate Loans Lead to Riskier Lending?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(2-3), pages 415-444, March.
    373. Konstantin Kosenko & Noam Michelson, 2018. "It Takes More than Two to Tango: Understanding the Dynamics behind Multiple Bank Lending and its Implications," Bank of Israel Working Papers 2018.11, Bank of Israel.
    374. Papoutsi, Melina, 2021. "Lending relationships in loan renegotiation: evidence from corporate loans," Working Paper Series 2553, European Central Bank.
    375. Degryse, Hans & Goncharenko, Roman & Theunisz, Carola & Vadasz, Tamas, 2023. "When green meets green," Journal of Corporate Finance, Elsevier, vol. 78(C).
    376. Antonio Guarino & Steffen Huck & Heike Harmgart, 2008. "When half the truth is better than the truth: A Theory of aggregate information cascades," WEF Working Papers 0046, ESRC World Economy and Finance Research Programme, Birkbeck, University of London.
    377. Contreras, Gaby & Bos, Jaap & Kleimeier, Stefanie, 2018. "Link About It: Information Asymmetry, Knowledge Pooling and Syndication in Project Finance Lending," Research Memorandum 008, Maastricht University, Graduate School of Business and Economics (GSBE).
    378. W. Blake Marsh & David Rodziewicz & Rajdeep Sengupta, 2017. "Do Adverse Oil Price Shocks Change Loan Contract Terms for Energy Firms?," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 59-86.
    379. Delis, Manthos & Iosifidi, Maria & Mylonidis, Nikolaos, 2020. "Industry Heterogeneity in the Risk-Taking Channel," MPRA Paper 100433, University Library of Munich, Germany.
    380. Christophe J. GODLEWSKI, 2017. "Initial conditions and the private debt renegotiation process," Working Papers of LaRGE Research Center 2017-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    381. Babar Khalid & Ahmed Imran Hunjra, 2017. "Measuring the Validity of the Instrument of Information Asymmetry, Accounting Information, Personal Values, Investment Satisfaction and Investor Decision: An Empirical Analysis of Pakistani Stock Exchanges," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 3(2), pages 6-22, December.
    382. Chao‐Jung Chen & Wen He & Chien‐Ju Lu & Xin Yu, 2022. "Bank loan covenants, accrual quality and firms’ information environment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 547-575, March.
    383. Isin, Adnan Anil, 2018. "Tax avoidance and cost of debt: The case for loan-specific risk mitigation and public debt financing," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 344-378.
    384. Max Bruche & Ralf R. Meisenzahl & David Xiaoyu Xu, 2023. "What Do Lead Banks Learn from Leveraged Loan Investors?," Working Paper Series WP 2023-44, Federal Reserve Bank of Chicago.
    385. Weston, James & Yimfor, Emmanuel, 2023. "Bank loans and bond prices," Journal of Corporate Finance, Elsevier, vol. 80(C).
    386. Tu, Wenjun & Du, Anna Min & Saddler, Sarah Borthwick, 2025. "Digital tax administration, investor risk perception, and stock return volatility," International Review of Economics & Finance, Elsevier, vol. 103(C).
    387. Hoffmann, Arvid O.I. & Kleimeier, Stefanie, 2021. "How do banks finance R&D intensive firms? the role of patents in overcoming information asymmetry✰," Finance Research Letters, Elsevier, vol. 38(C).
    388. BOUCKAERT, Jan & VAN MOER, Geert, 2022. "When rivals team up in procurement: does it distort competition?," Working Papers 2022001, University of Antwerp, Faculty of Business and Economics.
    389. Karavitis, Panagiotis & Kokas, Sotirios & Tsoukas, Serafeim, 2021. "Gender board diversity and the cost of bank loans," Journal of Corporate Finance, Elsevier, vol. 71(C).
    390. Chen, Jun & King, Tao-Hsien Dolly, 2014. "Corporate hedging and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 221-245.
    391. Ruidi Huang, 2025. "The Financial Consequences of Online Review Aggregators: Evidence from Yelp Ratings and SBA Loans," Management Science, INFORMS, vol. 71(1), pages 59-82, January.
    392. Alice Hsieh & Cheng-Few Lee & Hai-Chin Yu, 2025. "Organizational capital and debt pricing: evidence from bank loans and public bonds," Review of Quantitative Finance and Accounting, Springer, vol. 65(4), pages 1671-1708, November.
    393. Thomas Jeanjean & Hervé Stolowy & Michael Erkens, 2012. "Economic consequences of adopting English for annual reports," Post-Print hal-00690931, HAL.
    394. Böhm, Adrian & Eufinger, Christian & Kadach, Igor & Sakasai, Yuki, 2025. "Green banking illusion? The influence of “Eco-Conscious” bank shareholders on credit allocation," Journal of Corporate Finance, Elsevier, vol. 92(C).
    395. Gurara, Daniel & Presbitero, Andrea & Sarmiento, Miguel, 2020. "Borrowing costs and the role of multilateral development banks: Evidence from cross-border syndicated bank lending," Journal of International Money and Finance, Elsevier, vol. 100(C).
    396. Beatty, Anne & Liao, Scott & Weber, Joseph, 2012. "Evidence on the determinants and economic consequences of delegated monitoring," Journal of Accounting and Economics, Elsevier, vol. 53(3), pages 555-576.
    397. Kosenko, Konstantin & Michelson, Noam, 2022. "It takes more than two to tango: Multiple bank lending, asset commonality and risk," Journal of Financial Stability, Elsevier, vol. 61(C).
    398. Tran, Dung Viet & Hassan, M. Kabir & Alam, Ahmed W. & Pezzo, Luca & Abdul-Majid, Mariani, 2021. "Economic policy uncertainty, agency problem, and funding structure: Evidence from U.S. banking industry," Research in International Business and Finance, Elsevier, vol. 58(C).
    399. Christophe J. GODLEWSKI, 2012. "Are bank loans still “special” (especially during a crisis)? Empirical evidence from a European country," Working Papers of LaRGE Research Center 2012-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    400. Nishant Dass & Vikram Nanda & Qinghai Wang, 2020. "Within‐syndicate conflicts, loan covenants, and syndicate formation," Financial Management, Financial Management Association International, vol. 49(2), pages 547-583, June.
    401. Shen, Yu & Ren, Meixu & Zhao, Jingmei, 2023. "Bank competition and zombie company: Empirical evidence from China," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 297-318.
    402. Gabriel Chodorow‐Reich & Antonio Falato, 2022. "The Loan Covenant Channel: How Bank Health Transmits to the Real Economy," Journal of Finance, American Finance Association, vol. 77(1), pages 85-128, February.
    403. Billett, Matthew T. & Liu, Fangzhou & Tian, Xuan, 2025. "Information spillovers and cross monitoring between the stock market and loan market," Journal of Banking & Finance, Elsevier, vol. 171(C).
    404. Dorobantu, Sinziana & Müllner, Jakob, 2019. "Debt-side governance and the geography of project finance syndicates," Journal of Corporate Finance, Elsevier, vol. 57(C), pages 161-179.
    405. Line Drapeau & Claudia Champagne, 2015. "Do Syndicated Loans Influence Systemic Risk? An Empirical Analysis of the Canadian Syndicated Loan Market," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 22-41, November.
    406. Francis, Bill & Hasan, Iftekhar & Shen, Yinjie (Victor) & Ye, Pengfei, 2021. "Stock price fragility and the cost of bank loans," Journal of Empirical Finance, Elsevier, vol. 63(C), pages 118-135.
    407. Herve Alexandre & Karima Bouaiss & Catherine Refait-Alexandre, 2014. "Banking Relationships and Syndicated Loans during the 2008 Financial Crisis," Post-Print halshs-01067252, HAL.
    408. Gupta, Abhimanyu & Kokas, Sotirios & Michaelides, Alexander & Minetti, Raoul, 2025. "Networks and information in credit markets," Journal of Corporate Finance, Elsevier, vol. 94(C).
    409. Fergal McCann & Tara McIndoe-Calder, 2015. "Firm size, credit scoring accuracy and banks' production of soft information," Applied Economics, Taylor & Francis Journals, vol. 47(33), pages 3594-3611, July.
    410. Shi, Wei-Zhong & Ching, Yann-Peng & Fok, Robert (Chi-Wing) & Chang, Yuanchen, 2023. "Bank information monopolies and hold-up effects: International evidence," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 286-311.
    411. Michael Minnis & Andrew Sutherland, 2017. "Financial Statements as Monitoring Mechanisms: Evidence from Small Commercial Loans," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 55(1), pages 197-233, March.
    412. Heng An & William Hardin & Zhonghua Wu, 2012. "Information Asymmetry and Corporate Liquidity Management: Evidence from Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 45(3), pages 678-704, October.
    413. Blickle, Kristian & Santos, João A.C., 2024. "The costs of corporate debt overhang," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    414. Delis, Manthos & Hasan, Iftekhar & To, Thomas & Wu, Eliza, 2022. "The real effects of bank lobbying: Evidence from the corporate loan market," MPRA Paper 111642, University Library of Munich, Germany.
    415. Burietz, A. & Ongena, S. & Picault, M., 2023. "Taxing banks leverage and syndicated lending: A cross-country comparison," International Review of Law and Economics, Elsevier, vol. 73(C).
    416. Abdul Halim, Zairihan & Zakaria, Nadisah & Zakaria, Roza Hazli & Samsudin, Hazman, 2018. "Arrangers’ Identity and the Syndicate Structure of Sukuk," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(1), pages 243-256.
    417. Xie, Linlin & Liu, Yangbo & Jiang, Tianhao, 2024. "Executives with business education background and cost of debt financing: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 90(C), pages 283-296.
    418. Hertzel, Michael G. & Officer, Micah S., 2012. "Industry contagion in loan spreads," Journal of Financial Economics, Elsevier, vol. 103(3), pages 493-506.
    419. Ivashina, Victoria, 2009. "Asymmetric information effects on loan spreads," Journal of Financial Economics, Elsevier, vol. 92(2), pages 300-319, May.
    420. Kim, Moshe & Surroca Aguilar, Jorge & Tribo Gine, José Antonio, 2009. "The effect of social capital on financial capital," IC3JM - Estudios = Working Papers id-09-02, Instituto Mixto Carlos III - Juan March de Ciencias Sociales (IC3JM).
    421. Godlewski, Christophe J. & Olszak, Małgorzata, 2025. "Macroprudential policy and corporate loans: evidence from the syndicated loan market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 104(C).
    422. Kumar, Nitish & Mullally, Kevin & Ray, Sugata & Tang, Yuehua, 2020. "Prime (information) brokerage," Journal of Financial Economics, Elsevier, vol. 137(2), pages 371-391.
    423. Golden, Joanna & Liu, Xiaotao Kelvin, 2025. "Capitalization of operating leases and the cost of bank loans," Journal of Corporate Finance, Elsevier, vol. 92(C).
    424. Petya Platikanova & Kazbi Soonawalla, 2020. "Who monitors opaque borrowers? Debt specialisation, institutional ownership, and information opacity," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1867-1904, June.
    425. Ghosh, Chinmoy & He, Fan, 2023. "The impact of laws and institutions on financial contracts: Evidence from relationship lending across the world," Journal of Banking & Finance, Elsevier, vol. 148(C).
    426. Zhang, Xinyue & Zhong, Yuxiang & Li, Wanli, 2022. "The effect of borrowers' accounting conservatism on lenders' loan loss provisions: Evidence from China's banking industry," International Review of Financial Analysis, Elsevier, vol. 82(C).
    427. Gong, Di & Xu, Jiajun & Yan, Jianye, 2023. "National development banks and loan contract terms: Evidence from syndicated loans," Journal of International Money and Finance, Elsevier, vol. 130(C).
    428. Zhenhua Wu & Lin Hu & Zhijie Lin & Yong Tan, 2021. "Competition and Distortion: A Theory of Information Bias on the Peer-to-Peer Lending Market," Information Systems Research, INFORMS, vol. 32(4), pages 1140-1154, December.
    429. Nagar, Venky & Schoenfeld, Jordan, 2021. "Shareholder monitoring and discretionary disclosure," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    430. Yang, Daniel G., 2025. "Foreign bank branch participation and U.S. syndicated loan contract design," Journal of Accounting and Economics, Elsevier, vol. 79(1).
    431. Eid, Nourhan & Yang, Junhong & Duygun, Meryem, 2024. "Bridging the credit gap: The influence of regional bank structure on the expansion of peer-to-peer lending," The British Accounting Review, Elsevier, vol. 56(6).
    432. Zou, Yang & Wang, Xiaoming, 2022. "Distance, information and bank lending in China," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    433. Zhang, Wei, 2025. "Bank liquidity supply and corporate investment during the 2008–2009 financial crisis," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    434. Byers, Steven S. & Fields, L. Paige & Fraser, Donald R., 2008. "Are corporate governance and bank monitoring substitutes: Evidence from the perceived value of bank loans," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 475-483, September.
    435. Colonnello, Stefano & Koetter, Michael & Stieglitz, Moritz, 2019. "Benign neglect of covenant violations: Blissful banking or ignorant monitoring?," IWH Discussion Papers 3/2019, Halle Institute for Economic Research (IWH).
    436. Guedes, Sebastião S. & Pinto, João M., 2023. "Pricing of project finance bonds: A comparative analysis of primary market spreads," Journal of Corporate Finance, Elsevier, vol. 82(C).
    437. Bilan, Andrada & Ongena, Steven & Pancaro, Cosimo, 2023. "Bank private information in CDS markets," Working Paper Series 2818, European Central Bank.
    438. Memanova, Tamilyam & Mylonidis, Nikolaos, 2020. "Exploring the nexus between bank market power and exports," Economic Modelling, Elsevier, vol. 84(C), pages 222-233.
    439. Altunbas, Yener & Kara, Alper & Marqués-Ibáñez, David, 2009. "Large debt financing: syndicated loans versus corporate bonds," Working Paper Series 1028, European Central Bank.
    440. Baran, Lindsay C. & King, Tao-Hsien Dolly, 2010. "Going private transactions, bondholder returns, and wealth transfer effects," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1856-1872, August.
    441. Chaudhry, Sajid M. & Kleimeier, Stefanie, 2015. "Lead arranger reputation and the structure of loan syndicates," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 38(C), pages 116-126.
    442. Jérémie Bertrand & Paul-Olivier Klein & Fotios Pasiouras, 2024. "National culture of secrecy and firms’ access to credit," Post-Print hal-04691594, HAL.
    443. Cline, Brandon N. & Garner, Jacqueline L. & Yore, Adam S., 2014. "Exploitation of the internal capital market and the avoidance of outside monitoring," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 234-250.
    444. Ana María Herrera & Raoul Minetti & Matthew Schaffer, 2025. "Financial Liberalization, Credit Market Dynamism, and Allocative Efficiency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(6), pages 1559-1596, September.
    445. Ivan T. Ivanov & Ben Ranish & James Wang, 2023. "Banks' Strategic Responses to Supervisory Coverage: Evidence from a Natural Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 503-530, March.
    446. Li, Yutao & Saunders, Anthony & Shao, Pei, 2015. "Did Regulation Fair Disclosure affect credit markets?," Journal of Banking & Finance, Elsevier, vol. 54(C), pages 46-59.
    447. Chia-Ying Chan & Iftekhar Hasan & Chih-Yung Lin, 2021. "Agency cost of CEO perquisites in bank loan contracts," Review of Quantitative Finance and Accounting, Springer, vol. 56(4), pages 1221-1258, May.
    448. Jordan Schoenfeld, 2020. "Contracts Between Firms and Shareholders," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 58(2), pages 383-427, May.
    449. Xiaohui Chen, 2023. "Information moderation principle on the regulatory sandbox," Economic Change and Restructuring, Springer, vol. 56(1), pages 111-128, February.
    450. Bill B. Francis & Iftekhar Hasan & Mingming Zhou, 2013. "The effects of stock splits on the bid-ask spread of syndicated loans," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 5(1/2), pages 159-187.
    451. Doerr, Sebastian & Schaz, Philipp, 2021. "Geographic diversification and bank lending during crises," Journal of Financial Economics, Elsevier, vol. 140(3), pages 768-788.
    452. Chin, Chen-Lung & Chen, Mei-Hui & Yu, Po-Hsiang, 2018. "Does meeting analysts’ forecasts matter in the private loan market?," Journal of Empirical Finance, Elsevier, vol. 48(C), pages 321-340.
    453. Carvalho, Daniel & Gao, Janet & Ma, Pengfei, 2023. "Loan spreads and credit cycles: The role of lenders’ personal economic experiences," Journal of Financial Economics, Elsevier, vol. 148(2), pages 118-149.
    454. Yildirim, Alev, 2020. "The effect of relationship banking on firm efficiency and default risk," Journal of Corporate Finance, Elsevier, vol. 65(C).
    455. Cai, Shuxun & Ni, Xiaoran, 2025. "Administrative monopoly regulation and the cost of debt financing: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 92(C).
    456. Qiankun Gu & Jeong‐Bon Kim & Ke Liao & Yi Si, 2023. "Decentralising for local information? Evidence from state‐owned listed firms in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(5), pages 5245-5276, December.
    457. Sonny Biswas & Bálint L. Horváth & Wei Zhai, 2022. "Eliminating the Tax Shield through Allowance for Corporate Equity: Cross‐Border Credit Supply Effects," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(6), pages 1803-1837, September.
    458. Li, Zhengyi & Wu, Cuidan, 2025. "Corporate social responsibility, market business environment and stock price crash Risk: An analysis from the perspective of stakeholders," International Review of Economics & Finance, Elsevier, vol. 103(C).
    459. Liqiang Chen, 2014. "CEO Risk-taking Incentives and Bank Loan Syndicate Structure," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(9-10), pages 1269-1308, November.
    460. Ting-Kai Chou, 2013. "Information content of credit ratings in pricing of future earnings," Review of Quantitative Finance and Accounting, Springer, vol. 40(2), pages 217-250, February.
    461. Huber, Kilian Maria, 2020. "Are bigger banks better? Firm-level evidence from Germany," LSE Research Online Documents on Economics 121861, London School of Economics and Political Science, LSE Library.
    462. Francis, Bill B. & Hasan, Iftekhar & Zhu, Yun, 2014. "Political uncertainty and bank loan contracting," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 281-286.
    463. Álvarez-Botas, Celia & González, Víctor M., 2021. "Does trust matter for the cost of bank loans?," Journal of Corporate Finance, Elsevier, vol. 66(C).
    464. Beyhaghi, Mehdi & Massoud, Nadia & Saunders, Anthony, 2017. "Why and how do banks lay off credit risk? The choice between retention, loan sales and credit default swaps," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 335-355.
    465. Jian Cai, 2009. "Competition or collaboration? The reciprocity effect in loan syndication," Working Papers (Old Series) 0909, Federal Reserve Bank of Cleveland.
    466. Christodoulakis, George A. & Olupeka, Taiwo, 2010. "Pricing and momentum of syndicated credit in Europe," Omega, Elsevier, vol. 38(5), pages 325-332, October.
    467. Christophe J. GODLEWSKI, 2008. "What Drives the Arrangement Timetable of Bank Loan Syndication ?," Working Papers of LaRGE Research Center 2008-02, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    468. Kee‐Hong Bae & Vidhan K. Goyal, 2009. "Creditor Rights, Enforcement, and Bank Loans," Journal of Finance, American Finance Association, vol. 64(2), pages 823-860, April.
    469. Lee, Edward & Pappas, Kostas & Xu, Alice Liang, 2020. "Foreign Lenders’ adoption of performance pricing provisions in syndicated loans," Journal of Banking & Finance, Elsevier, vol. 118(C).
    470. Clark, Brian & Donato, James & Francis, Bill B., 2023. "Credit default swaps and debt specialization," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    471. Lin, Chih-Yung & Chen, Yan-Shing & Yen, Ju-Fang, 2014. "On the determinant of bank loan contracts: The roles of borrowers’ ownership and board structures," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(4), pages 500-512.
    472. Nilba Feijó-Cuenca & Nuria Ceular-Villamandos & Virginia Navajas-Romero, 2023. "Behavioral Patterns That Influence the Financing Choice Models of Small Enterprises in Ecuador through Latent Class Analysis," Sustainability, MDPI, vol. 15(8), pages 1-17, April.
    473. Baylis, Richard M. & Burnap, Peter & Clatworthy, Mark A. & Gad, Mahmoud A. & Pong, Christopher K.M., 2017. "Private lenders’ demand for audit," Journal of Accounting and Economics, Elsevier, vol. 64(1), pages 78-97.
    474. Anne Beatty & Reining Petacchi & Haiwen Zhang, 2012. "Hedge commitments and agency costs of debt: evidence from interest rate protection covenants and accounting conservatism," Review of Accounting Studies, Springer, vol. 17(3), pages 700-738, September.
    475. Ambrocio, Gene & Hasan, Iftekhar, 2019. "What drives discretion in bank lending? Some evidence and a link to private information," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 323-340.
    476. Stover, Roger & Boyle, Glenn, 2008. "Staying Close to Home: Foreign Bank Participation in Syndicated Loans," Working Paper Series 19120, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    477. Christophe J. GODLEWSKI, 2014. "What drives the dynamics of bank debt renegotiation in Europe? A survival analysis approach," Working Papers of LaRGE Research Center 2014-01, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    478. Gus De Franco & Alexander Edwards & Scott Liao, 2021. "Product Market Peers in Lending," Management Science, INFORMS, vol. 67(3), pages 1876-1894, March.
    479. He, Zhongda & Qiao, Guannan & Zhang, Le & Zhang, Wenrui, 2021. "Regulator supervisory power and bank loan contracting," Journal of Banking & Finance, Elsevier, vol. 126(C).
    480. Ağca, Şenay & Igan, Deniz, 2019. "Fiscal consolidations and the cost of credit," Journal of International Economics, Elsevier, vol. 120(C), pages 84-108.
    481. Becchetti, Leonardo & Manfredonia, Stefano, 2022. "Media, reputational risk, and bank loan contracting," Journal of Financial Stability, Elsevier, vol. 60(C).
    482. Daniel Belton & Leonardo Gambacorta & Sotirios Kokas & Raoul Minetti, 2020. "Foreign banks, liquidity shocks, and credit stability," BIS Working Papers 845, Bank for International Settlements.
    483. Leo Ferraris & Raoul Minetti, 2013. "Foreign Banks and the Dual Effect of Financial Liberalization," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(7), pages 1301-1333, October.
    484. Liu, Chen & Wu, Yan Wendy, 2022. "CEO compensation and bank loan contracts," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 420-436.
    485. Delis, Manthos D. & Kim, Suk-Joong & Politsidis, Panagiotis N. & Wu, Eliza, 2021. "Regulators vs. markets: Are lending terms influenced by different perceptions of bank risk?," Journal of Banking & Finance, Elsevier, vol. 122(C).
    486. Iñaki Aldasoro & Sebastian Doerr & Haonan Zhou, 2023. "Non-bank lending during crises," BIS Working Papers 1074, Bank for International Settlements.
    487. Chenyan Zhang & Yongqiao Chen & Huiyu Zhou, 2020. "Zombie Firms and Soft Budget Constraints in the Chinese Stock Market," Asian Economic Journal, East Asian Economic Association, vol. 34(1), pages 51-77, March.
    488. Issam Hallak & Paul Schure, 2008. "Why Larger Lenders obtain Higher Returns: Evidence from Sovereign Syndicated Loans," Department Discussion Papers 0802, Department of Economics, University of Victoria.
    489. Rahaman, Mohammad M. & Zaman, Ashraf Al, 2013. "Management quality and the cost of debt: Does management matter to lenders?," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 854-874.
    490. Christophe J. GODLEWSKI, 2016. "Debt renegotiation and the design of financial contracts," Working Papers of LaRGE Research Center 2016-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    491. Benhabib, Jess & Dong, Feng & Wang, Pengfei, 2018. "Adverse selection and self-fulfilling business cycles," Journal of Monetary Economics, Elsevier, vol. 94(C), pages 114-130.
    492. Miguel A. Duran, 2024. "The Risk-Return Relation in the Corporate Loan Market," Papers 2401.12315, arXiv.org.
    493. Meng, Qingbin & Huang, Haozheng & Li, Xinyu & Wang, Song, 2023. "Short-selling and corporate default risk: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 398-417.
    494. Anna M. Costello & Regina Wittenberg‐Moerman*, 2011. "The Impact of Financial Reporting Quality on Debt Contracting: Evidence from Internal Control Weakness Reports," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 49(1), pages 97-136, March.
    495. Ryan Bubb & Alex Kaufman, 2011. "Securitization and moral hazard: evidence from credit score cutoff rules," Public Policy Discussion Paper 11-6, Federal Reserve Bank of Boston.
    496. Ricardo Branco & João Pinto & Ricardo Ribeiro, 2020. "The Pricing of Bank Bonds, Sovereign Credit Risk and ECB's Asset Purchase Programmes," Working Papers de Economia (Economics Working Papers) 01, Católica Porto Business School, Universidade Católica Portuguesa.
    497. Bouckaert, Jan & Van Moer, Geert, 2021. "Joint bidding and horizontal subcontracting," International Journal of Industrial Organization, Elsevier, vol. 76(C).
    498. Faten Ben Bouheni & Manish Tewari & Andrew Salamon & Payson Johnston & Kevin Hopkins, 2025. "Credit Sales and Risk Scoring: A FinTech Innovation," FinTech, MDPI, vol. 4(3), pages 1-29, July.
    499. Gabriel J. Power & Djerry C. Mbianda Tandja, 2022. "Should lenders also advise? Evidence from project loans," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(4), pages 961-985, December.
    500. Chen, Hsuan-Chi & Chou, Robin K. & Lin, Chih-Yung & Lu, Chien-Lin, 2022. "Bank loans during the 2008 quantitative easing," Journal of Financial Stability, Elsevier, vol. 59(C).
    501. Danilo Drago & Concetta Carnevale, 2020. "Do CSR Ratings Affect Loan Spreads? Evidence from European Syndicated Loan Market," Sustainability, MDPI, vol. 12(18), pages 1-30, September.
    502. Ralph De Haas & Neeltje Van Horen, 2013. "Running for the Exit? International Bank Lending During a Financial Crisis," The Review of Financial Studies, Society for Financial Studies, vol. 26(1), pages 244-285.
    503. Bolortuya Enkhtaivan & Wenling Lu, 2021. "The effect of TARP on lending: Evidence from the lead bank’s share in syndicated loans," Review of Quantitative Finance and Accounting, Springer, vol. 57(4), pages 1169-1193, November.
    504. Gong, Di & Jiang, Tao & Wu, Weixing, 2018. "A foreign currency effect in the syndicated loan market of emerging economies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 52(C), pages 211-226.
    505. Lin Shao, 2025. ""Aggregate Fluctuations and the Role of Trade Credit," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 56, April.
    506. Degl'Innocenti, Marta & Fiordelisi, Franco & Song, Wei & Zhou, Si, 2023. "Shareholder litigation and bank risk," Journal of Banking & Finance, Elsevier, vol. 146(C).
    507. Dahiya, Sandeep & Hallak, Issam & Matthys, Thomas, 2020. "Targeted by an activist hedge fund, do the lenders care?," Journal of Corporate Finance, Elsevier, vol. 62(C).
    508. Sharjil M. Haque & Simon Mayer & Teng Wang, 2024. "How Private Equity Fuels Non-Bank Lending," Finance and Economics Discussion Series 2024-015, Board of Governors of the Federal Reserve System (U.S.).
    509. Hasan, Iftekhar & Kim, Suk-Joong & Politsidis, Panagiotis & Wu, Eliza, 2020. "Syndicated bank lending and rating downgrades: Do sovereign ceiling policies really matter?," MPRA Paper 102941, University Library of Munich, Germany.
    510. Lin, Chih-Yung & Chen, Yehning & Ho, Po-Hsin & Yen, Ju-Fang, 2020. "CEO overconfidence and bank loan contracting," Journal of Corporate Finance, Elsevier, vol. 64(C).
    511. Acharya, Viral & Johnson, Tim, 2005. "Insider Trading in Credit Derivatives," CEPR Discussion Papers 5180, Centre for Economic Policy Research.
    512. Ha Ta & Terry L. Esper & Kenneth Ford & Sebastian Garcia‐Dastuge, 2018. "Trustworthiness Change and Relationship Continuity after Contract Breach in Financial Supply Chains," Journal of Supply Chain Management, Institute for Supply Management, vol. 54(4), pages 42-61, October.
    513. Daniel Saavedra, 2023. "Do firms follow the SEC’s confidential treatment protocols? Evidence from credit agreements," Review of Accounting Studies, Springer, vol. 28(3), pages 1388-1412, September.
    514. del Río, Cristina & López-Arceiz, Francisco J. & Muga, Luis, 2023. "Do sustainability disclosure mechanisms reduce market myopia? Evidence from European sustainability companies," International Review of Financial Analysis, Elsevier, vol. 87(C).
    515. Mian, Atif & Santos, João A.C., 2018. "Liquidity risk and maturity management over the credit cycle," Journal of Financial Economics, Elsevier, vol. 127(2), pages 264-284.
    516. Luis Araujo & Elton Beqiraj & David Hong & Sotirios Kokas & Raoul Minetti, 2026. "Banking Structures, Liquidity, and Macroeconomic Stability," Working Papers in Public Economics 269, Department of Economics and Law, Sapienza University of Rome.
    517. Lucy F. Ackert & Rongbing Huang & Gabriel G. Ramírez, 2007. "Information Opacity, Credit Risk, and the Design of Loan Contracts for Private Firms," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 16(5), pages 221-242, December.
    518. Anne Beatty & Lin Cheng & Tzachi Zach, 2019. "Nonrecurring Items in Debt Contracts," Contemporary Accounting Research, John Wiley & Sons, vol. 36(1), pages 139-167, March.
    519. Ailian Zhang & Shuyao Wang & Bai Liu & Pei Liu, 2022. "How fintech impacts pre‐ and post‐loan risk in Chinese commercial banks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 2514-2529, April.
    520. Kostas Pappas & Alice Liang Xu, 2023. "Do foreign lenders' national cultures affect loan pricing?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2006-2036, April.
    521. Jiekun Huang, 2023. "Thy Neighbor’s Vote: Peer Effects in Proxy Voting," Management Science, INFORMS, vol. 69(7), pages 4169-4189, July.
    522. Peng, Youwei & Bai, Ruoshui & Guan, Yonghao, 2025. "Impact of green taxes and fees on corporate ESG performance," International Review of Financial Analysis, Elsevier, vol. 100(C).
    523. Aurore Burietz & Kim Oosterlinck & Ariane Szafarz, 2025. "Hold-up in Syndicated Lending: Why Do Bank Relationships Lead to Higher Costs for High-Quality Firms?," Working Papers CEB 25-005, ULB -- Universite Libre de Bruxelles.
    524. Shikimi, Masayo, 2019. "Bank relationships and corporate cash holdings," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    525. Francis, Bill & Hasan, Iftekhar & Song, Liang, 2012. "Are firm- and country-specific governance substitutes? Evidence from financial contracts in emerging markets," Bank of Finland Research Discussion Papers 12/2012, Bank of Finland.
    526. Zhu, Huaijia & Chang, Shiwei & Chen, Bo & Zhu, Huaiqi, 2024. "How does military-civilian integration development influence corporate financial constraints in China? Evidence based on quasi-natural experiments," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1273-1289.
    527. Chou, Ting-Kai & Cheng, Jia-Chi, 2012. "Credit ratings and excess value of diversification," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 266-281.
    528. Demirgüç-Kunt, Asli & Horváth, Bálint L. & Huizinga, Harry, 2023. "Regulatory arbitrage and loan location decisions by multinational banks," Journal of International Economics, Elsevier, vol. 145(C).
    529. Inês Pinto & Cristina Gaio, 2025. "ESG Performance and Information Asymmetry: The Moderating Role of Ownership Concentration," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(5), pages 5747-5759, September.
    530. Tong, Jamie Yixing & Wang, Yujie & Xiang, Yi & Zhang, Feida Frank, 2025. "Information sharing and loan outcome: Evidence from CEO/CFO-bank links," The British Accounting Review, Elsevier, vol. 57(6).
    531. Brendan Daley & Brett Green & Victoria Vanasco, 2020. "Securitization, Ratings, and Credit Supply," Journal of Finance, American Finance Association, vol. 75(2), pages 1037-1082, April.
    532. Florin P. Vasvari, 2012. "Discussion of “Hedge commitments and agency costs of debt: evidence from interest rate protection covenants and accounting conservatism”," Review of Accounting Studies, Springer, vol. 17(3), pages 739-748, September.
    533. Mark Egan & Stefan Lewellen & Adi Sunderam, 2022. "The Cross-Section of Bank Value," The Review of Financial Studies, Society for Financial Studies, vol. 35(5), pages 2101-2143.
    534. Hollander, Stephan & Verriest, Arnt, 2016. "Bridging the gap: the design of bank loan contracts and distance," Journal of Financial Economics, Elsevier, vol. 119(2), pages 399-419.
    535. João Granja, 2013. "The Relation Between Bank Resolutions and Information Environment: Evidence from the Auctions for Failed Banks," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 51(5), pages 1031-1070, December.
    536. Ahn, Sungyoon & Choi, Wooseok, 2009. "The role of bank monitoring in corporate governance: Evidence from borrowers' earnings management behavior," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 425-434, February.
    537. Ma, Zhiming & Stice, Derrald & Williams, Christopher, 2019. "The effect of bank monitoring on public bond terms," Journal of Financial Economics, Elsevier, vol. 133(2), pages 379-396.
    538. Ho, Kelvin & Wong, Andrew, 2023. "Effect of climate-related risk on the costs of bank loans: Evidence from syndicated loan markets in emerging economies," Emerging Markets Review, Elsevier, vol. 55(C).
    539. Lin, Chih-Yung & Tsai, Wei-Che & Hasan, Iftekhar & Tuan, Le Quoc, 2018. "Private benefits of control and bank loan contracts," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 324-343.
    540. Zhou, Fuzhao & Shao, Pei & Xie, Feixue & Huang, Jianning, 2023. "The governance role of lender monitoring: Evidence from Borrowers' tax planning," Advances in accounting, Elsevier, vol. 63(C).
    541. Efraim Benmelech & Nitish Kumar & Raghuram Rajan, 2020. "Secured Credit Spreads," Working Papers 2020-14, Becker Friedman Institute for Research In Economics.
    542. Stefan Avdjiev & José María Serena Garralda, 2020. "Regulatory capital, market capital and risk taking in international bank lending," BIS Working Papers 912, Bank for International Settlements.
    543. Michael Moise & James M. O'Brien & John Tschirhart & Emily Yang, 2007. "Bank commercial loan fair value practices," Finance and Economics Discussion Series 2007-29, Board of Governors of the Federal Reserve System (U.S.).
    544. Yu, Hongxin & Zhao, Yuanjun & Liu, Zheng & Liu, Wei & Zhang, Shuai & Wang, Fatao & Shi, Lihua, 2021. "Research on the financing income of supply chains based on an E-commerce platform," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    545. Marshall, Andrew & McCann, Laura & McColgan, Patrick, 2019. "The market reaction to debt announcements: UK evidence surrounding the global financial crisis," The British Accounting Review, Elsevier, vol. 51(1), pages 92-109.
    546. Marco Airaudo & María Pía Olivero, 2019. "Optimal Monetary Policy with Countercyclical Credit Spreads," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(4), pages 787-829, June.
    547. Kanishka Dam & Prabal Roy Chowdhury, 2020. "Race to collusion: Monitoring and incentive contracts for loan officers under multiple-bank lending," Discussion Papers 20-05, Indian Statistical Institute, Delhi.
    548. Godlewski, Christophe J., 2014. "The determinants of multiple bank loan renegotiations in Europe," International Review of Financial Analysis, Elsevier, vol. 34(C), pages 275-286.
    549. Saiying Deng & Vincent J. Intintoli & Andrew Zhang, 2019. "CEO Turnover, Information Uncertainty, and Debt Contracting," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 1-54, June.
    550. Behn, Markus & Schramm, Alexander, 2021. "The impact of G-SIB identification on bank lending: Evidence from syndicated loans," Journal of Financial Stability, Elsevier, vol. 57(C).
    551. Li, Xi & Lou, Yun, 2024. "Foreign institutional ownership and cross-border lending," LSE Research Online Documents on Economics 124422, London School of Economics and Political Science, LSE Library.
    552. K. Khang & T. D. King, 2015. "Capital market access and corporate loan structure," Applied Economics, Taylor & Francis Journals, vol. 47(4), pages 374-397, January.
    553. Wayne R. Landsman & Chao Kevin Li & Jianxin Donny Zhao, 2023. "CDS Trading Initiation, Information Asymmetry, and Dividend Payout," Management Science, INFORMS, vol. 69(1), pages 684-701, January.
    554. Wang, Ting & Xu, Jiani & Yang, Liuyong, 2024. "Financial geographic density and corporate financial asset holdings: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    555. Blanco, Iván & García, Sergio J., 2021. "Options trading and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 69(C).
    556. Cai, Jian & Eidam, Frederik & Saunders, Anthony & Steffen, Sascha, 2018. "Syndication, interconnectedness, and systemic risk," Journal of Financial Stability, Elsevier, vol. 34(C), pages 105-120.
    557. Mary Chen & Seung Jung Lee & Daniel Neuhann & Farzad Saidi, 2024. "Less Bank Regulation, More Non-Bank Lending," ECONtribute Discussion Papers Series 303, University of Bonn and University of Cologne, Germany.
    558. Kasten, Connor L., 2024. "The fringe benefits of fringe benefits: When firms borrow from their retirement providers," Journal of Corporate Finance, Elsevier, vol. 87(C).
    559. Adamuz, María de las Mercedes & Hernández Cortés, Janko, 2015. "Endogenous screening and the formation of loan syndicates," International Review of Economics & Finance, Elsevier, vol. 37(C), pages 290-307.
    560. Maung, Min & Wilson, Craig & Yu, Weisu, 2020. "Does reputation risk matter? Evidence from cross-border mergers and acquisitions," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 66(C).
    561. Qiao, Penghua & Long, Yang & Fung, Hung-Gay & Kao, Erin Hui-Chuan, 2022. "Narcissistic leaders and corporate cash Holdings: Evidence in China," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
    562. Lee, Sang Whi & Kwag, Seung-Woog (Austin) & Mullineaux, Donald J. & Park, Kwangwoo, 2006. "Agency Conflicts, Financial Distress, and Syndicate Structure: Evidence from Japanese Borrowers," CEI Working Paper Series 2006-11, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    563. Liangliang Jiang & Yi Zhu, 2014. "Effects of Foreign Institutional Ownership on Foreign Bank Lending: Some Evidence for Emerging Markets," International Review of Finance, International Review of Finance Ltd., vol. 14(2), pages 263-293, June.
    564. Dam, Kaniṣka & Roy Chowdhury, Prabal, 2021. "Monitoring and incentives under multiple-bank lending: The role of collusive threats," Journal of Economic Theory, Elsevier, vol. 197(C).
    565. Patrice Fontaine & Sujiao Zhao, 2021. "Suppliers as financial intermediaries: Trade credit for undervalued firms," Post-Print hal-03507994, HAL.
    566. Drago, Danilo & Gallo, Raffaele, 2018. "Do multiple credit ratings affect syndicated loan spreads?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 56(C), pages 1-16.
    567. Kara, Alper & Marques-Ibanez, David & Ongena, Steven, 2016. "Securitization and lending standards: Evidence from the European wholesale loan market," Journal of Financial Stability, Elsevier, vol. 26(C), pages 107-127.
    568. Delis, Manthos D. & Iosifidi, Maria & Kokas, Sotirios & Xefteris, Dimitrios & Ongena, Steven, 2020. "Enforcement actions on banks and the structure of loan syndicates," Journal of Corporate Finance, Elsevier, vol. 60(C).
    569. Lu, Yangsiyu & Springer, Cecilia & Steffen, Bjarne, 2024. "Cofinancing and infrastructure project outcomes in Chinese lending and overseas development finance," World Development, Elsevier, vol. 175(C).
    570. Lynn Linghuan Wang, 2023. "Transmission Effects of ESG Disclosure Regulations Through Bank Lending Networks," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 61(3), pages 935-978, June.
    571. Yafeh, Yishay & Giannetti, Mariassunta, 2008. "Do Cultural Differences Between Contracting Parties Matter? Evidence from Syndicated Bank Loans," CEPR Discussion Papers 7020, Centre for Economic Policy Research.
    572. Dougal, Casey & Rettl, Daniel A., 2021. "Firm listing status and the investment home bias," Journal of Corporate Finance, Elsevier, vol. 71(C).
    573. Rui-Xiang Zhai & Po-Hsin Ho & Chih-Yung Lin & Tran Thi Thuy Linh, 2023. "Bank CEO risk-taking incentives and bank lending quality," Review of Quantitative Finance and Accounting, Springer, vol. 60(3), pages 949-981, April.
    574. Jinhua Cui & Hoje Jo & Haejung Na, 2018. "Does Corporate Social Responsibility Affect Information Asymmetry?," Journal of Business Ethics, Springer, vol. 148(3), pages 549-572, March.
    575. Christophe Godlewski, 2010. "Banking environment and loan syndicate structure: a cross-country analysis," Applied Financial Economics, Taylor & Francis Journals, vol. 20(8), pages 637-648.
    576. Vu, Tram & Do, Viet & Skully, Michael, 2015. "Local versus foreign banks: A home market advantage in loan syndications," International Review of Financial Analysis, Elsevier, vol. 37(C), pages 29-39.
    577. Manthos D. Delis & Sotirios Kokas & Steven Ongena, 2015. "Bank market power and firm performance," University of Cyprus Working Papers in Economics 02-2015, University of Cyprus Department of Economics.
    578. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco, 2020. "Do bank bailouts have an impact on the underwriting business?," Journal of Financial Stability, Elsevier, vol. 49(C).
    579. Tampakoudis, Ioannis & Noulas, Athanasios & Kiosses, Nikolaos, 2022. "The market reaction to syndicated loan announcements before and during the COVID-19 pandemic and the role of corporate governance," Research in International Business and Finance, Elsevier, vol. 60(C).
    580. Delis, Manthos & Kokas, Sotirios & Kontonikas, Alexandros, 2024. "Reserves regulation and the risk-taking channel," Journal of Corporate Finance, Elsevier, vol. 89(C).
    581. Lee, Sang Whi & Kwag, Seung-Woog (Austin) & Mullineaux, Donald J. & Park, Kwangwoo, 2010. "Financial distress, information asymmetry, and syndicate structure: Evidence from Japanese borrowers," Finance Research Letters, Elsevier, vol. 7(2), pages 119-126, June.
    582. Chen, Jun & King, Tao-Hsien Dolly & Wen, Min-Ming, 2020. "Non-executive ownership and private loan pricing," Journal of Corporate Finance, Elsevier, vol. 64(C).
    583. Li, Chunshuo & Ongena, Steven, 2015. "Bank loan announcements and borrower stock returns before and during the recent financial crisis," Journal of Financial Stability, Elsevier, vol. 21(C), pages 1-12.
    584. Bao, Yangming, 2022. "Peer information in loan pricing," Journal of Corporate Finance, Elsevier, vol. 76(C).
    585. Brian Akins & David De Angelis & Maclean Gaulin, 2020. "Debt Contracting on Management," Journal of Finance, American Finance Association, vol. 75(4), pages 2095-2137, August.
    586. Christophe GODLEWSKI, 2018. "The effects of bank loan renegotiation on corporate policies and performance," Working Papers of LaRGE Research Center 2018-01, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    587. Kleimeier, Stefanie & Chaudhry, Sajid M., 2015. "Cultural differences and the structure of loan syndicates," Finance Research Letters, Elsevier, vol. 15(C), pages 115-124.
    588. Chen, Qi & Vashishtha, Rahul, 2017. "The effects of bank mergers on corporate information disclosure," Journal of Accounting and Economics, Elsevier, vol. 64(1), pages 56-77.
    589. Albertazzi, Ugo & Eramo, Ginette & Gambacorta, Leonardo & Salleo, Carmelo, 2015. "Asymmetric information in securitization: An empirical assessment," Journal of Monetary Economics, Elsevier, vol. 71(C), pages 33-49.
    590. Hale, Galina & Santos, João A.C., 2009. "Do banks price their informational monopoly?," Journal of Financial Economics, Elsevier, vol. 93(2), pages 185-206, August.
    591. Steven Crawford & Ying Huang & Ningzhong Li & Ziyun Yang, 2020. "Customer Concentration and Public Disclosure: Evidence from Management Earnings and Sales Forecasts†," Contemporary Accounting Research, John Wiley & Sons, vol. 37(1), pages 131-159, March.
    592. Alperovych, Yan & Divakaruni, Anantha & Manigart, Sophie, 2022. "Lending when relationships are scarce: The role of information spread via bank networks," Journal of Corporate Finance, Elsevier, vol. 73(C).
    593. Ferreira, Miguel A. & Matos, Pedro, 2009. "Universal banks and corporate control: evidence from the global syndicated loan market," Working Paper Series 1066, European Central Bank.
    594. Iván Andrés Ordóñez-Castaño & Edila Eudemia Herrera-Rodríguez & Angélica María Franco Ricaurte & Luis Enrique Perdomo Mejía, 2021. "Voluntary Disclosure of GRI and CSR Environmental Criteria in Colombian Companies," Sustainability, MDPI, vol. 13(10), pages 1-18, May.
    595. Aytekin Ertan, 2022. "Real earnings management through syndicated lending," Review of Accounting Studies, Springer, vol. 27(4), pages 1157-1198, December.
    596. Adam B. Ashcraft & João A. C. Santos, 2007. "Has the credit derivatives swap market lowered the cost of corporate debt?," Staff Reports 290, Federal Reserve Bank of New York.
    597. Wang, Yangmei & Guo, Savannah (Yuanyuan), 2025. "How does the CEO horizon problem affect the cost of bank loans?," Advances in accounting, Elsevier, vol. 68(C).
    598. Delis, Manthos & Kim, Suk-Joong & Politsidis, Panagiotis & Wu, Eliza, 2020. "Regulators vs. markets: Do differences in their bank risk perceptions affect lending terms?," MPRA Paper 98548, University Library of Munich, Germany.
    599. Yun Zhu, 2015. "Political uncertainty and non-pricing terms of financial contract," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 77-109, June.
    600. Marlene Plumlee & Yuan Xie & Meng Yan & Jeff Jiewei Yu, 2015. "Bank loan spread and private information: pending approval patents," Review of Accounting Studies, Springer, vol. 20(2), pages 593-638, June.
    601. Young Sang Kim & Junyoup Lee & Ha-Chin Yi, 2021. "Is Foreign Exchange Risk Priced in Bank Loan Spreads?," Review of Quantitative Finance and Accounting, Springer, vol. 57(3), pages 1061-1092, October.
    602. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco, 2021. "The impact of lending relationships on the choice and structure of bond underwriting syndicates," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    603. Dorfleitner, Gregor & Oswald, Eva-Maria, 2016. "Repayment behavior in peer-to-peer microfinancing: Empirical evidence from Kiva," Review of Financial Economics, Elsevier, vol. 30(C), pages 45-59.

  18. Amy Finkelstein & Kathleen McGarry & Amir Sufi, 2005. "Dynamic Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance," American Economic Review, American Economic Association, vol. 95(2), pages 224-228, May.
    See citations under working paper version above.
  19. Cara S. Lown & Carol L. Osler & Philip E. Strahan & Amir Sufi, 2000. "The changing landscape of the financial services industry: what lies ahead?," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 39-54.

    Cited by:

    1. Bang Nam Jeon & Ji Wu & Limei Chen & Minghua Chen, 2020. "Diversification, efficiency and risk of banks: New consolidating evidence from emerging economies," School of Economics Working Paper Series 2020-10, LeBow College of Business, Drexel University.
    2. Abdullah Mamun & Tahasin Reza Khan, 2026. "Effect of income diversification on Canadian credit union performance: Evidence from long panel," Review of Financial Economics, John Wiley & Sons, vol. 44(1), January.
    3. Berger, Allen N. & Hasan, Iftekhar & Zhou, Mingming, 2010. "The effects of focus versus diversification on bank performance: Evidence from Chinese banks," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1417-1435, July.
    4. Korhonen, Pekka & Voutilainen, Raimo, 2006. "Finding the most preferred alliance structure between banks and insurance companies," European Journal of Operational Research, Elsevier, vol. 175(2), pages 1285-1299, December.
    5. Carl Pacini & William Hillison & David Marlett & Deanna Burgess, 2005. "Corporate governance and the market impact of the Financial Services Modernization act of 1999 on bank returns and trading volume," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 29(1), pages 46-72, March.
    6. Randall S. Kroszner & Philip E. Strahan, 2014. "Regulation and Deregulation of the US Banking Industry: Causes, Consequences, and Implications for the Future," NBER Chapters, in: Economic Regulation and Its Reform: What Have We Learned?, pages 485-543, National Bureau of Economic Research, Inc.
    7. Schmid, Markus M. & Walter, Ingo, 2009. "Do financial conglomerates create or destroy economic value?," Journal of Financial Intermediation, Elsevier, vol. 18(2), pages 193-216, April.
    8. Li, Li & Zhang, Yu, 2013. "Are there diversification benefits of increasing noninterest income in the Chinese banking industry?," Journal of Empirical Finance, Elsevier, vol. 24(C), pages 151-165.
    9. Mohammad Najand & John Griffith & David C Marlett, 2007. "Do life insurance stocks provide superior returns?," Journal of Asset Management, Palgrave Macmillan, vol. 8(1), pages 52-57, May.
    10. Zhang, Ailian & Wang, Shuyao & Liu, Bai & Fu, Jingyuan, 2020. "How government regulation of interbank financing impacts risk for Chinese commercial banks," Journal of Asian Economics, Elsevier, vol. 66(C).
    11. Sébastian Schich, 2005. "Diversification sectorielle : les assureurs mis au défi," Revue d'Économie Financière, Programme National Persée, vol. 80(3), pages 271-286.
    12. Albertazzi, Ugo & Gambacorta, Leonardo, 2009. "Bank profitability and the business cycle," Journal of Financial Stability, Elsevier, vol. 5(4), pages 393-409, December.
    13. Sayuri Shirai, 2001. "Searching for New Regulatory Frameworks for the Intermediate Financial Structure in Post-Crisis Asia," Center for Financial Institutions Working Papers 01-28, Wharton School Center for Financial Institutions, University of Pennsylvania.
    14. Lepetit, Laetitia & Nys, Emmanuelle & Rous, Philippe & Tarazi, Amine, 2008. "Bank income structure and risk: An empirical analysis of European banks," Journal of Banking & Finance, Elsevier, vol. 32(8), pages 1452-1467, August.
    15. Fields, L. Paige & Fraser, Donald R. & Kolari, James W., 2007. "Bidder returns in bancassurance mergers: Is there evidence of synergy?," Journal of Banking & Finance, Elsevier, vol. 31(12), pages 3646-3662, December.
    16. Elyas Elyasiani & Sotiris K. Staikouras & Panagiotis Dontis-Charitos, 2016. "Cross-Industry Product Diversification and Contagion in Risk and Return: The case of Bank-Insurance and Insurance-Bank Takeovers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(3), pages 681-718, September.
    17. Xavier Freixas & Gyöngyi Lóránth & Alan D. Morrison, 2005. "Regulating financial conglomerates," Economics Working Papers 820, Department of Economics and Business, Universitat Pompeu Fabra.
    18. Huizinga, Harry & Demirgüç-Kunt, Asli, 2009. "Bank Activity and Funding Strategies: The Impact on Risk and Return," CEPR Discussion Papers 7170, Centre for Economic Policy Research.
    19. Alqahtani, Faisal & Mayes, David G., 2018. "Financial stability of Islamic banking and the global financial crisis: Evidence from the Gulf Cooperation Council," Economic Systems, Elsevier, vol. 42(2), pages 346-360.
    20. Neifar, Malika, 2020. "Interest-free versus Conventional banks- A Comparative Study using Linear and Nonlinear Panel Regression: Empirical Evidence from Turky and 6 MENA countries," MPRA Paper 101028, University Library of Munich, Germany.
    21. Zhang, Ailian & Wang, Shuyao & Liu, Bai & Fu, Jingyuan, 2020. "The double-edged sword effect of diversified operation on pre- and post-loan risk in the government-led Chinese commercial banks," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    22. Chernobai, Anna & Ozdagli, Ali & Wang, Jianlin, 2021. "Business complexity and risk management: Evidence from operational risk events in U.S. bank holding companies," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 418-440.
    23. McGowan, Danny & Nguyen, Huyen & Schaeck, Klaus, 2024. "Deposit competition and mortgage securitization," IWH Discussion Papers 6/2021, Halle Institute for Economic Research (IWH), revised 2024.
    24. Estrella, Arturo, 2001. "Mixing and matching: Prospective financial sector mergers and market valuation," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2367-2392, December.
    25. Morrison, Alan & Lóránth, Gyöngyi, 2008. "Bank Diversification and Incentives," CEPR Discussion Papers 7051, Centre for Economic Policy Research.
    26. Thorsten V. Koeppl & James MacGee, 2007. "Branching Out: The Urgent Need to Transform Canada’s Financial Landscape and How to Do It," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 251, June.
    27. Chung‐Hua Shen & Yuen‐Hsiang Chang, 2006. "Do Regulations Affect Banking Performance? Government Governance May Matter," Contemporary Economic Policy, Western Economic Association International, vol. 24(1), pages 92-105, January.
    28. Mostak Ahamed, M., 2017. "Asset quality, non-interest income, and bank profitability: Evidence from Indian banks," Economic Modelling, Elsevier, vol. 63(C), pages 1-14.
    29. Christian Calm¨¨s & Raymond Th¨¦oret, 2016. "The Asymmetric Impact of Portfolio Mix on Bank Performance over the Business Cycle: U.S. and Canadian Evidence," Review of Economics & Finance, Better Advances Press, Canada, vol. 6, pages 57-74, February.
    30. Panagiotis Dontis‐Charitos & Philip Molyneux & Sotiris K. Staikouras, 2011. "Does the Stock Market Compensate Banks for Diversifying into the Insurance Business?," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 20(1), pages 1-28, February.
    31. Carletti, Elena & Hartmann, Philipp, 2002. "Competition and stability: what's special about banking?," Working Paper Series 146, European Central Bank.
    32. Barry Williams & Laurie Prather, 2010. "Bank risk and return: the impact of bank non‐interest income," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 6(3), pages 220-244, June.
    33. Neale Faith R. & Drake Pamela Peterson & Clark Steven P., 2010. "Diversification in the Financial Services Industry: The Effect of the Financial Modernization Act," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-30, March.
    34. Rime, Bertrand & Stiroh, Kevin J., 2003. "The performance of universal banks: Evidence from Switzerland," Journal of Banking & Finance, Elsevier, vol. 27(11), pages 2121-2150, November.
    35. Elsas, Ralf & Hackethal, Andreas & Holzhäuser, Markus, 2010. "The anatomy of bank diversification," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1274-1287, June.
    36. Chen, Jiun-Lin & Sanger, Gary C. & Song, Wei-Ling, 2019. "The relationship insurance role of financial conglomerates: Evidence from earnings announcements," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 505-527.
    37. H. Semih Yildirim & Seung‐Woog (Austin) Kwag & M. Cary Collins, 2006. "An Examination of the Equity Market Response to The Gramm‐Leach‐Bliley Act Across Commercial Banking, Investment Banking, and Insurance Firms," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(9‐10), pages 1629-1649, November.
    38. Guohua Feng & Apostolos Serletis, 2009. "Efficiency and productivity of the US banking industry, 1998-2005: evidence from the Fourier cost function satisfying global regularity conditions," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(1), pages 105-138.
    39. Robert DeYoung & Douglas Evanoff & Philip Molyneux, 2009. "Mergers and Acquisitions of Financial Institutions: A Review of the Post-2000 Literature," Journal of Financial Services Research, Springer;Western Finance Association, vol. 36(2), pages 87-110, December.
    40. Mr. Gianni De Nicolo & Ms. Mary G Zephirin & Philip F. Bartholomew & Ms. Jahanara Zaman, 2003. "Bank Consolidation, Internationalization, and Conglomeration: Trends and Implications for Financial Risk," IMF Working Papers 2003/158, International Monetary Fund.
    41. João Gabriel Moraes Souza & Daniel Tavares Castro & Yaohao Peng & Ivan Ricardo Gartner, 2024. "A Machine Learning-Based Analysis on the Causality of Financial Stress in Banking Institutions," Computational Economics, Springer;Society for Computational Economics, vol. 64(3), pages 1857-1890, September.
    42. Staikouras, Sotiris K., 2009. "An event study analysis of international ventures between banks and insurance firms," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(4), pages 675-691, October.
    43. Kevin Stiroh, 2004. "Do Community Banks Benefit from Diversification?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 25(2), pages 135-160, April.
    44. Neale, Faith R. & Peterson, Pamela P., 2005. "The effect of the Gramm-Leach-Bliley Act on the insurance industry," Journal of Economics and Business, Elsevier, vol. 57(4), pages 317-338.
    45. Neifar, Malika, 2020. "Long run comparison analysis and Short run Stability sensitivity: Empirical Evidence from Tunisian Banks," MPRA Paper 101029, University Library of Munich, Germany.
    46. Lucia Spotorno & Ornella Moro, 2020. "Do bank-affiliated P&C insurers perform better? An empirical investigation," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(2), pages 225-255, April.
    47. Mercieca, Steve & Schaeck, Klaus & Wolfe, Simon, 2007. "Small European banks: Benefits from diversification?," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 1975-1998, July.
    48. Stefano Colonnello, 2022. "The Real Effects of Universal Banking: Does Access to the Public Debt Market Matter?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(1), pages 77-110, February.
    49. Elsas, Ralf & Hackethal, Andreas & Holzhaeuser, Markus, 2006. "The Anatomy of Bank Diversification," Discussion Papers in Business Administration 1167, University of Munich, Munich School of Management.
    50. Neifar, Malika, 2020. "Different dimensions Bank performance comparisons IBs vs CBs – Quatar case," MPRA Paper 101375, University Library of Munich, Germany.
    51. Miklaszewska, Ewa & Mikołajczyk, Katarzyna & Pawłowska, Małgorzata, . "Po-kryzysowa architektura regulacyjna a banki Europy Środkowej i Wschodniej," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2013(7-8).
    52. Mamun, Abdullah, 2023. "Understanding growth and its policy implications for Canadian credit unions," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 652-665.
    53. Wang, Chunyang & Lin, Yongjia, 2021. "Income diversification and bank risk in Asia Pacific," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    54. Ewa Miklaszewska & Katarzyna Mikołajczyk & Małgorzata Pawłowska, 2013. "Post-crisis Regulatory Architecture and Central and East European Banks," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 7-8, pages 63-85.
    55. Hans J. Blommestein, 2006. "Visions about the Future of Banking," SUERF Studies, SUERF - The European Money and Finance Forum, number 2006/2 edited by Morten Balling, May.
    56. Dean Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Temi di discussione (Economic working papers) 464, Bank of Italy, Economic Research and International Relations Area.
    57. Kei-ichiro Inaba & Masazumi Hattori, 2007. "A Contemporary Aspect of Japanese Commercial Banking: Expansion of Fee-Based Business and Its Impact on Management Stability," Bank of Japan Working Paper Series 07-E-9, Bank of Japan.
    58. Andrew Kuritzkes & Til Schuermann & Scott M. Weiner, 2002. "Risk Measurement, Risk Management and Capital Adequacy in Financial Conglomerates," Center for Financial Institutions Working Papers 03-02, Wharton School Center for Financial Institutions, University of Pennsylvania.
    59. Hoje Jo & Hakkon Kim & Kwangwoo Park, 2015. "Corporate Environmental Responsibility and Firm Performance in the Financial Services Sector," Journal of Business Ethics, Springer, vol. 131(2), pages 257-284, October.
    60. Kevin J. Stiroh, 2002. "Diversification in banking: is noninterest income the answer?," Staff Reports 154, Federal Reserve Bank of New York.
    61. Mohamed Nurullah & Sotiris K. Staikouras, 2008. "The Separation of Banking from Insurance: Evidence from Europe," Multinational Finance Journal, Multinational Finance Journal, vol. 12(3-4), pages 157-184, September.
    62. Chortareas, Georgios E. & Girardone, Claudia & Ventouri, Alexia, 2012. "Bank supervision, regulation, and efficiency: Evidence from the European Union," Journal of Financial Stability, Elsevier, vol. 8(4), pages 292-302.

Chapters

  1. Augustin Landier & David Thesmar, 2011. "Regulating Systemic Risk through Transparency: Trade-Offs in Making Data Public," NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 31-44, National Bureau of Economic Research, Inc.

    Cited by:

    1. Mardi Dungey & Matteo Luciani & David Veredas, 2012. "Ranking Systemically Important Financial Institutions," Tinbergen Institute Discussion Papers 12-115/IV/DSF44, Tinbergen Institute.
    2. Chakravarty, Surajeet & Choo, Lawrence & Fonseca, Miguel A. & Kaplan, Todd R., 2021. "Should regulators always be transparent? a bank run experiment," European Economic Review, Elsevier, vol. 136(C).
    3. Chen, Qi & Goldstein, Itay & Huang, Zeqiong & Vashishtha, Rahul, 2022. "Bank transparency and deposit flows," Journal of Financial Economics, Elsevier, vol. 146(2), pages 475-501.
    4. Matthieu Bouvard & Pierre Chaigneau & Adolfo de Motta, 2012. "Transparency in the Financial System: Rollover Risk and Crises," Cahiers de recherche 1206, CIRPEE.
    5. Parlatore, Cecilia, 2024. "Transparency and bank runs," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    6. Usman Bashir & Yugang Yu & Muntazir Hussain & Xiao Wang & Ahmed Ali, 2017. "Do banking system transparency and competition affect nonperforming loans in the Chinese banking sector?," Applied Economics Letters, Taylor & Francis Journals, vol. 24(21), pages 1519-1525, December.
    7. Andrievskaya, Irina & Semenova, Maria, 2016. "Does banking system transparency enhance bank competition? Cross-country evidence," Journal of Financial Stability, Elsevier, vol. 23(C), pages 33-50.
    8. Moreno, Diego & Takalo, Tuomas, 2012. "Optimal bank transparency," Bank of Finland Research Discussion Papers 9/2012, Bank of Finland.
    9. Julien Daubanes & Jean-Charles Rochet, 2019. "The Rise of NGO Activism," Working Papers 2019.01, FAERE - French Association of Environmental and Resource Economists.

IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.