Loan Types and the Bank Lending Channel / Victoria Ivashina, Luc Laeven, Enrique Moral-Benito.

Format:

Book

Author/Creator:

Ivashina, Victoria.

Contributor:

National Bureau of Economic Research.

Laeven, Luc.

Moral-Benito, Enrique.

Series:

Working Paper Series (National Bureau of Economic Research) no. w27056.

NBER working paper series no. w27056

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2020.

Summary:

Using credit-registry data for Spain and Peru, we document that four main types of commercial credit--asset-based loans, cash-flow loans, trade finance and leasing--are easily identifiable and represent the bulk of corporate credit. We show that credit dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks previously identified in the literature appear to be driven by individual loan types. The effects of monetary policy and the effects of the financial crisis propagating through banks' balance sheets are primarily driven by cash-flow loans, whereas asset-based credit is mostly insensitive to these types of effects.

Notes:

Print version record

April 2020.