Credit-Supply Shocks and Firm Productivity in Italy

Released on by Sebastian Dörr
preview-18

  • Credit-Supply Shocks and Firm Productivity in Italy Book Detail

  • Author : Sebastian Dörr
  • Release Date : 2017-03-24
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 29
  • ISBN 13 : 1475588941
  • File Size : 39,39 MB
DOWNLOAD BOOK

Credit-Supply Shocks and Firm Productivity in Italy by Sebastian Dörr PDF Summary

Book Description: The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a novel identification scheme and loan-level data on syndicated lending. We exploit the heterogeneous loan exposure of Italian banks to foreign borrowers in distress, and find that a negative shock to bank credit supply reduces firms' loan growth, investment, capital-to-labor ratio, and productivity. The transmission from changes in credit supply to firm productivity relates to labor market rigidities, which delay or distort the adjustment of firms' desired labor and capital allocations, and thereby reduce firms' productivity. Effects are stronger for firms with higher capital intensity and external financial dependence.

Disclaimer: www.yourbookbest.com does not own Credit-Supply Shocks and Firm Productivity in Italy books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Credit Supply and Productivity Growth

Credit Supply and Productivity Growth

File Size : 26,26 MB
Total View : 3709 Views
DOWNLOAD

We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations,

Banks, Firms, and Jobs

Banks, Firms, and Jobs

File Size : 1,1 MB
Total View : 4498 Views
DOWNLOAD

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one