| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12058 |
| DP12058 Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins | |
| Thorsten Beck; Andre Silva; Samuel Da-Rocha-Lopes | |
| 发表日期 | 2017-05-20 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We analyze the credit supply and real sector effects of bank bail-ins by exploiting the unexpected failure of a major bank in Portugal and its subsequent resolution. Using a unique dataset of matched firm-bank data on credit exposures and interest rates from the Portuguese credit register, we show that while banks more exposed to the bail-in significantly reduced credit supply after the shock, affected firms were able to compensate this credit contraction with other sources of funding, including new lending relationships. Although there was no loss of external funding, we observe a moderate tightening of credit conditions as well as lower investment and employment at firms more exposed to the intervention, particularly SMEs. We explain the latter real effects by higher precautionary cash holdings due to increased uncertainty. |
| 主题 | Financial Economics |
| 关键词 | Bail-ins Bank failures Credit supply investment Employment |
| URL | https://cepr.org/publications/dp12058 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540869 |
| 推荐引用方式 GB/T 7714 | Thorsten Beck,Andre Silva,Samuel Da-Rocha-Lopes. DP12058 Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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