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Autor:innen: 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Sveriges Riksbank Working Paper Series No. 280
Verlag: 
Sveriges Riksbank, Stockholm
Zusammenfassung: 
Using panel data of 68,800 small and large firms, I examine whether firms are subject to shifts in the supply of credit over the business cycle. Shifts in the supply of credit are identified by exploring how firms substitute between commitment credit - lines of credit - and non-commitment credit. I find that firms on average rely more on commitment credits when monetary policy is tight and when the financial health of banks is weaker. The results are consistent with a bank lending channel of monetary policy and with shifts in the supply of credit following deteriorations in banks' balance sheets.
Schlagwörter: 
Bank Lending Channel
Bank Capital
Business Fluctuations
JEL: 
E32
E44
E51
G01
G21
Dokumentart: 
Working Paper
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