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

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Ivashina, Victoria

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w27056.Publication details: Cambridge, Mass. National Bureau of Economic Research 2020.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: 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.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w27056 (Browse shelf(Opens below))	Not For Loan

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April 2020.

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.