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Conference Paper
Observing unobservables: identifying information asymmetries with a consumer-credit field experiment
Karlan, Dean; Zinman, Jonathan (2005)
Information asymmetries are important in theory but difficult to identify in practice. We estimate the empirical importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology derived from theoretical models. We randomized 58,000 direct mail offers issued by a major South African lender along three dimensions: 1) the initial "offer interest rate" appearing on the direct mail solicitations; 2) a "contract interest rate" equal to or less than the offer interest rate and revealed to the over 4,000 borrowers who agreed to the initial ...
Proceedings , Paper 961

Conference Paper
Social capital and the cost of business loan contracting
Uzzi, Brian; Lancaster, Ryon (2001)
Proceedings , Paper 792

Journal Article
War loan drive and banking developments
anonymous (1944-03)
Federal Reserve Bulletin , Issue Mar , Pages 215-221

Conference Paper
Subprime lending: neighborhood patterns over time
Russo, Karl; Hershaff, Jonathan; Wachter, Susan M. (2005)
Proceedings , Paper 954

Conference Paper
So what do I get? the bank's view of lending relationships
Srinivasan, Anand; Saunders, Anthony; Bharath, Sreedhar T.; Dahiya, Sandeep (2004)
Proceedings , Paper 945

Journal Article
Small business access to capital: alternative resources bridging the gap
Newberger, Robin G.; Longworth, Susan (2012-05)
Nationwide in the U.S. over the past 15 years, small businesses generated 64 percent of the net new job growth. Small businesses with fewer than 500 employees, a definition used by the Small Business Administration (SBA), represent 99.7 percent of all employer firms, and employ more than half of private sector employees in the United States. Firms with fewer than 50 employees represent 95 percent of all employer firms. Since the recession that began in late 2007, large bank lending to small businesses has fallen by more than 50 percent.
Profitwise , Issue May , Pages 2-13

Journal Article
A time series analysis of business loans at large commercial banks
Summers, Bruce J. (1975-05)
An abstract for this article is not available.
Economic Review , Volume 61 , Issue May , Pages 8-14

Working Paper
Equilibrium lending mechanism and aggregate activity
Zhou, Ruilin; Wang, Cheng (2000)
This paper develops a model of the credit market where the equilibrium lending mechanism, as well as the economy's aggregate investment and output, are endogenously determined. It focuses on two crucial elements. One is the micro theory of optimal lending mechanism. Instead of imposing a particular lending contract form exogenously, we solve for the optimal contract between a borrower and a lender designed to circumvent adverse-selection and moral-hazard problems in the model environment. The other important element is the effect of credit market condition on the lending mechanism. We embed ...
Working Paper Series , Paper WP-00-30

Journal Article
Foreign currency loans and systemic risk in Europe
Yesin, Pinar (2013-05)
Foreign currency loans to the unhedged non-banking sector are remarkably prevalent in Europe and create a significant exchange-rate-induced credit risk to European banking sectors. In particular, Swiss franc (CHF)-denominated loans, popular in Eastern European countries, could trigger simultaneous bank failures if depreciation of the domestic currencies prevents unhedged borrowers from servicing the loans. Foreign currency loans thus pose a systemic risk from a ?common market shock? perspective. The author uses a novel dataset of foreign-currency loans from 17 countries for 2007-11 (collected ...
Review , Volume 95 , Issue May , Pages 219-236

Journal Article
Does faster loan growth lead to higher loan losses?
Keeton, William R. (1999-04)
During the last couple of years, concern has increased that the exceptionally rapid growth in business loans at commercial banks has been due in large part to excessively easy credit standards. Some analysts argue that competition for loan customers has greatly increased, causing banks to reduce loan rates and ease credit standards to obtain new business. Others argue that as the economic expansion has continued and memories of past loan losses have faded, banks have become more willing to take risks. Whichever explanation is correct, the acceleration in loan growth could lead eventually to a ...
Economic Review , Volume 84 , Issue Q II , Pages 57-75

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