Bank lending in uncertain times

被引：54

作者：

Alessandri, Piergiorgio ^{[1
]}

Bottero, Margherita ^{[1
]}

机构：

[1] Banca Italia, Directorate Gen Econ Stat & Res, Via Nazl 91, I-00184 Rome, Italy

来源：

EUROPEAN ECONOMIC REVIEW | 2020年 / 128卷

关键词：

uncertainty; credit supply; loan applications; FIRM-LEVEL EVIDENCE; MONETARY-POLICY; RISK-MANAGEMENT; CREDIT MARKET; CHANNEL; SHOCKS; IMPACT;

D O I：

10.1016/j.euroecorev.2020.103503

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We study the impact of economic uncertainty on credit supply using monthly data on more than two million corporate loan applications received by Italian banks between 2004 and 2012. We find that an increase in aggregate uncertainty has two effects: it lowers the likelihood that firms' applications will be successful, and it prolongs the time firms have to wait for their loans to be disbursed. This financial acceleration mechanism varies in the cross section, affecting mainly banks with low capital buffers and firms that are geographically distant from the bank to which they apply. (c) 2020 Elsevier B.V. All rights reserved.

引用

页数：19

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