| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12423 |
| DP12423 Shock Propagation and Banking Structure | |
| Farzad Saidi; Mariassunta Giannetti | |
| 发表日期 | 2017-11-05 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We conjecture that lenders' decisions to provide liquidity are affected by the extent to which they internalize negative spillovers. We show that lenders with a large share of loans outstanding in an industry provide liquidity to industries in distress when spillovers are expected to be strong, because fire sales are likely to ensue. Lenders with a large share of outstanding loans also provide liquidity to customers and suppliers of industries in distress, especially when the disruption of supply chains is expected to be costly. Our results suggest a novel channel explaining why credit concentration may favor financial stability. |
| 主题 | Financial Economics |
| 关键词 | Syndicated loans Bank concentration Supply chains Fire sales Externalities |
| URL | https://cepr.org/publications/dp12423 |
| 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/541233 |
| 推荐引用方式 GB/T 7714 | Farzad Saidi,Mariassunta Giannetti. DP12423 Shock Propagation and Banking Structure. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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