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Loan Types and the Bank Lending Channel

Victoria Ivashina, Luc Laeven () and Enrique Moral-Benito ()

No 27056, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: E0 G21 (search for similar items in EconPapers)
Date: 2020-04
New Economics Papers: this item is included in nep-ban, nep-cba, nep-gen, nep-mac and nep-mon
Note: CF ME
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Working Paper: Loan types and the bank lending channel (2020) Downloads
Working Paper: Loan Types and the Bank Lending Channel (2020) Downloads
Working Paper: Loan types and the bank lending channel (2020) Downloads
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