全球智库信息集成服务系统(G2TT): Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w28286
来源ID	Working Paper 28286
	Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis
	Lei Li; Philip Strahan
发表日期	2020-12-28
出版年	2020
语种	英语
摘要	We analyze bank supply of credit under the Paycheck Protection Program (PPP). The literature emphasizes relationships as a means to improve lender information, which helps banks manage credit risk. Despite imposing no risk, however, PPP supply reflects traditional measures of relationship lending: decreasing in bank size; increasing in prior experience, in commitment lending, and in core deposits. Our results suggest a new benefit of bank relationships, as they help firms access government-subsidized lending. Consistent with this benefit, we show that bank PPP supply, based on the structure of the local banking sector, alleviates increases in unemployment.
主题	Financial Economics ; Financial Institutions ; COVID-19
URL	https://www.nber.org/papers/w28286
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/585958
推荐引用方式 GB/T 7714	Lei Li,Philip Strahan. Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis. 2020.