Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/320019 
Autor:innen: 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
CASMEF Working Paper Series No. WP 2023/05
Verlag: 
LUISS Guido Carli, Department of Economics and Finance, Arcelli Centre for Monetary and Financial Studies, Rome
Zusammenfassung: 
This paper presents a model in which firms have endogenously-persistent lending relationships with banks which compete both on interest rates and collateral requirements. The economy features an endogenously-evolving lending standard which is subject to an exogenous shock. A shock to bank lending standards in this model leads to a spike in spread, drop in bank credit and amplification of macroeconomic volatility. These e↵ects are higher at greater intensity and persistence of the lending relationships. This work shines a spotlight on how shocks to lending standards can have wider macroeconomic implications and shows how financial shocks can a↵ect real economy.
Schlagwörter: 
Lending Standards
Deep Habits in Banking
Macroeconomic Fluctuations
JEL: 
E32
E44
Dokumentart: 
Working Paper

Datei(en):
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