Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis

Inici | Què és? | Contacte

English | Castellano

Consultar RECERCAT

Per comunitats i
col·leccions Per data Per autors Per títols Per matèries

Consultar col·lecció

Per data Per autors Per títols Per matèries

Estadístiques

Del document Tot RECERCAT

El meu RECERCAT

Entrar Alertes per correu-e

Directori d’altres repositoris

Pàgina inicial del RECERCAT > Universitat Pompeu Fabra > Articles, congressos, llibres > Visualitza document

Per accedir als documents amb el text complet, si us plau, seguiu el següent enllaç: http://hdl.handle.net/10230/36226

dc.contributor.author	Iyer, Rajkamal
dc.contributor.author	Lopes, Samuel
dc.contributor.author	Peydró, José-Luis
dc.contributor.author	Schoar, Antoinette
dc.date	2014
dc.identifier.citation	Iyer R, Lopes S, Peydró JL, Schoar A. Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis. Rev Financ Stud. 2014 Jan 1;27(1):347-72. DOI: 10.1093/rfs/hht056
dc.identifier.citation	0893-9454
dc.identifier.citation	http://dx.doi.org/10.1093/rfs/hht056
dc.identifier.uri	http://hdl.handle.net/10230/36226
dc.format	application/pdf
dc.language.iso	eng
dc.publisher	Oxford University Press
dc.relation	The Review of Financial Studies. 2014 Jan 1;27(1):347-72.
dc.relation	info:eu-repo/grantAgreement/ES/3PN/ECO2012-32434
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	© Oxford University Press. This is a pre-copyedited, author-produced version of an article accepted for publication in The Review of Financial Studies following peer review. The version of record Iyer R, Lopes S, Peydró JL, Schoar A. Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis. Rev Financ Stud. 2014 Jan 1;27(1):347-72 is available online at: http://dx.doi.org/10.1093/rfs/hht056
dc.subject	Credit crunch
dc.subject	Banking crisis
dc.subject	Interbank markets
dc.subject	Access to credit
dc.subject	Flight to quality
dc.subject	Lender of last resort
dc.subject	Liquidity hoarding
dc.title	Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis
dc.type	info:eu-repo/semantics/article
dc.type	info:eu-repo/semantics/acceptedVersion
dc.description.abstract	We study the credit supply effects of the unexpected freeze of the European interbank market, using exhaustive Portuguese loan-level data. We find that banks that rely more on interbank borrowing before the crisis decrease their credit supply more during the crisis. The credit supply reduction is stronger for firms that are smaller, with weaker banking relationships. Small firms cannot compensate the credit crunch with other sources of debt. Furthermore, the impact of illiquidity on the credit crunch is stronger for less solvent banks. Finally, there are no overall positive effects of central bank liquidity, but higher hoarding of liquidity.
dc.description.abstract	Peydró acknowledges the financial support from project ECO2012-32434 of the Spanish Ministry of Economy and Competitiveness and also from the Spanish Ministry of Economy and Competitiveness through the Severo Ochoa Programme for Centres of Excellence in R&D (SEV-2011-0075).

Mostra el registre simple del document

Documents relacionats

Altres documents del mateix autor/a

Interbank liquidity crunch and the firm credit crunch: Evidence from the 2007-2009 crisis

Iyer, Rajkamal; Da-Rocha-Lopes, Samuel; Peydró, José-Luis; Schoar, Antoinette

Interbank contagion at work: evidence from a natural experiment

Iyer, Rajkamal; Peydró, José-Luis

Political connections: Evidence from insider trading around TARP

Akin, Ozlem; Coleman, Nicholas S.; Fons-Rosen, Christian; Peydró, José-Luis

Do demand or supply factors drive bank credit, in good and crisis times?

Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; Saurina, Jesús

Household credit, global financial cycle, and macroprudential policies: credit register evidence from an emerging country

Epure, Mircea; Mihai, Irina; Minoiu, Camelia; Peydró, José-Luis

Accessibilitat | Avís legal | Política de Cookies | Documents d'ús intern

Coordinació

Patrocini