The collateral channel within and between countries
Author
Abstract
Suggested Citation
Note: View the original document on HAL open archive server: https://hal.science/hal-04929440v1
Download full text from publisher
References listed on IDEAS
- Gita Gopinath & Şebnem Kalemli-Özcan & Loukas Karabarbounis & Carolina Villegas-Sanchez, 2017.
"Capital Allocation and Productivity in South Europe,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 1915-1967.
- Gita Gopinath & Ṣebnem Kalemli-Özcan & Loukas Karabarbounis & Carolina Villegas-Sanchez, 2015. "Capital Allocation and Productivity in South Europe," Working Papers 728, Federal Reserve Bank of Minneapolis.
- Kalemli-Özcan, Sebnem & Karabarbounis, Loukas & Gopinath, Gita & Villegas-Sanchez, Carolina, 2015. "Capital Allocation and Productivity in South Europe," CEPR Discussion Papers 10826, C.E.P.R. Discussion Papers.
- Gita Gopinath & Sebnem Kalemli-Ozcan & Loukas Karabarbounis & Carolina Villegas-Sanchez, 2015. "Capital Allocation and Productivity in South Europe," NBER Working Papers 21453, National Bureau of Economic Research, Inc.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2023.
"Sectoral reallocations, real estate shocks, and productivity divergence in Europe,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(1), pages 101-132, February.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2019. "Sectoral reallocations, Real estate shocks, and productivity divergence in Europe," Working Papers 2019-09, CEPII research center.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2022. "Sectoral reallocations, real estate shocks, and productivity divergence in Europe," Post-Print hal-03701538, HAL.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2022. "Sectoral reallocations, real estate shocks, and productivity divergence in Europe," Post-Print hal-03954554, HAL.
- Thomas Chaney & David Sraer & David Thesmar, 2012.
"The Collateral Channel: How Real Estate Shocks Affect Corporate Investment,"
American Economic Review, American Economic Association, vol. 102(6), pages 2381-2409, October.
- Thomas Chaney & David Sraer & David Thesmar, 2010. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," NBER Working Papers 16060, National Bureau of Economic Research, Inc.
- Thomas Chaney & David Sraer & David Thesmar, 2012. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," Post-Print hal-01009900, HAL.
- Saleem Bahaj & Angus Foulis & Gabor Pinter, 2020.
"Home Values and Firm Behavior,"
American Economic Review, American Economic Association, vol. 110(7), pages 2225-2270, July.
- Bahaj, Saleem A. & Foulis, Angus & Pinter, Gabor, 2016. "The residential collateral channel," LSE Research Online Documents on Economics 86240, London School of Economics and Political Science, LSE Library.
- Bahaj, Saleem & Foulis, Angus & Pinter, Gabor, 2017. "Home values and firm behaviour," Bank of England working papers 679, Bank of England.
- Gabor Pinter & Angus Foulis & Saleem Bahaj, 2016. "The Residential Collateral Channel," 2016 Meeting Papers 502, Society for Economic Dynamics.
- Saleem Bahaj & Angus Foulis & Gabor Pinter, 2017. "Home Values and Firm Behaviour," Discussion Papers 1724, Centre for Macroeconomics (CFM).
- Saleem Bahaj & Angus Foulis & Gabor Pinter, 2016. "The Residential Collateral Channel," Discussion Papers 1607, Centre for Macroeconomics (CFM), revised Jun 2016.
- Bahaj, Saleem A. & Foulis, Angus & Pinter, Gabor, 2017. "Home values and firm behaviour," LSE Research Online Documents on Economics 86151, London School of Economics and Political Science, LSE Library.
- Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2022.
"Quantifying Reduced‐Form Evidence on Collateral Constraints,"
Journal of Finance, American Finance Association, vol. 77(4), pages 2143-2181, August.
- Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2018. "Quantifying Reduced-Form Evidence on Collateral Constraints," SciencePo Working papers Main hal-03393129, HAL.
- Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2018. "Quantifying Reduced-Form Evidence on Collateral Constraints," Working Papers hal-03393129, HAL.
- Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2018. "Quantifying Reduced-Form Evidence on Collateral Constraints," SciencePo Working papers hal-03393129, HAL.
- Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2022. "Quantifying Reduced-Form Evidence on Collateral Constraints," Post-Print hal-03869851, HAL.
- Sylvain Catherine & Thomas Chaney & Zongbo Huang & David Sraer & David Thesmar, 2022. "Quantifying Reduced-Form Evidence on Collateral Constraints," SciencePo Working papers Main hal-03869851, HAL.
- Banerjee, Ryan & Blickle, Kristian, 2021.
"Financial frictions, real estate collateral and small firm activity in Europe,"
European Economic Review, Elsevier, vol. 138(C).
- Ryan N. Banerjee & Kristian S. Blickle, 2018. "Financial frictions, real estate collateral, and small firm activity in Europe," Staff Reports 868, Federal Reserve Bank of New York.
- Hossain, Md. Imran & Duong, Huu Nhan & Al Mamun, Md & Docherty, Paul, 2023. "Collateral shocks and M&A decisions," Journal of Corporate Finance, Elsevier, vol. 82(C).
- Xavier Gabaix, 2011.
"The Granular Origins of Aggregate Fluctuations,"
Econometrica, Econometric Society, vol. 79(3), pages 733-772, May.
- Xavier Gabaix, 2005. "The Granular Origins of Aggregate Fluctuations," 2005 Meeting Papers 470, Society for Economic Dynamics.
- Xavier Gabaix, 2009. "The Granular Origins of Aggregate Fluctuations," NBER Working Papers 15286, National Bureau of Economic Research, Inc.
- Bernanke, Ben & Gertler, Mark, 1989.
"Agency Costs, Net Worth, and Business Fluctuations,"
American Economic Review, American Economic Association, vol. 79(1), pages 14-31, March.
- Bernanke, Ben & Gertler, Mark, 1988. "Agency Costs, Net Worth, And Business Fluctuations," SSRI Workshop Series 292693, University of Wisconsin-Madison, Social Systems Research Institute.
- Denis Fougère & Rémy Lecat & Simon Ray, 2019.
"Real Estate Prices and Corporate Investment: Theory and Evidence of Heterogeneous Effects across Firms,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(6), pages 1503-1546, September.
- Fougère, Denis & Lecat, Rémy & Ray, Simon, 2017. "Real estate prices and corporate investment: theory and evidence of heterogeneous effects across firms," CEPR Discussion Papers 11883, C.E.P.R. Discussion Papers.
- Denis Fougère & Rémy Lecat & Simon Ray, 2019. "Real Estate Prices and Corporate Investment: Theory and Evidence of Heterogeneous Effects across Firms," Post-Print hal-02274289, HAL.
- Fougère, Denis & Lecat, Rémy & Ray, Simon, 2018. "Real Estate Prices and Corporate Investment: Theory and Evidence of Heterogeneous Effects across Firms," IZA Discussion Papers 12007, Institute of Labor Economics (IZA).
- Denis Fougère & Rémy Lecat & Simon Ray, 2017. "Real estate prices and corporate investment: theory and evidence of heterogeneous effects across firms," Working Papers hal-03458863, HAL.
- Denis Fougère & Rémy Lecat & Simon Ray, 2017. "Real estate prices and corporate investment: theory and evidence of heterogeneous effects across firms," SciencePo Working papers Main hal-03458863, HAL.
- Denis Fougère & Rémy Lecat & Simon Ray, 2019. "Real Estate Prices and Corporate Investment: Theory and Evidence of Heterogeneous Effects across Firms," SciencePo Working papers Main hal-02274289, HAL.
- repec:hal:spmain:info:hdl:2441/75koqefued8i7pihbrl9u84p4u is not listed on IDEAS
- Vivien Levy-Garboua & Éric Monnet, 2016. "Les taux d’intérêt en France : une perspective historique," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 35-58.
- Oliver Hart & John Moore, 1994.
"A Theory of Debt Based on the Inalienability of Human Capital,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(4), pages 841-879.
- Oliver Hart & John Moore, 1991. "A Theory of Debt Based on the Inalienability of Human Capital," STICERD - Theoretical Economics Paper Series 233, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Hart, O. & Moore, J., 1991. "A Theory of Debt Based on the Inalienability of Human Capital," Working papers 592, Massachusetts Institute of Technology (MIT), Department of Economics.
- Oliver Hart & John Moore, 1991. "A Theory of Debt Based on the Inalienability of Human Capital," NBER Working Papers 3906, National Bureau of Economic Research, Inc.
- Cristina Badarau-Semenescu, & Gregory Levieuge, 2010.
"Assessing the Potential Strength of a Bank Capital Channel in Europe: A Principal Component Analysis,"
The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 2(1), pages 005-016, June.
- Florina-Cristina Badarau & Grégory Levieuge, 2010. "Assessing the Potential Strength of a Bank Capital Channel in Europe: A Principal Component Analysis," Working Papers hal-00641983, HAL.
- Thorsten Beck & Asli Demirgüç‐Kunt & Vojislav Maksimovic, 2005. "Financial and Legal Constraints to Growth: Does Firm Size Matter?," Journal of Finance, American Finance Association, vol. 60(1), pages 137-177, February.
- Chen Lian & Yueran Ma, 2021. "Anatomy of Corporate Borrowing Constraints," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(1), pages 229-291.
- Badarau, Cristina & Levieuge, Grégory, 2013. "Financial Heterogeneity in a Monetary Union," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 28, pages 482-506.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Barro, Robert J, 1976. "The Loan Market, Collateral, and Rates of Interest," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(4), pages 439-456, November.
- Chistina Badarau & Grégory Levieuge, 2010. "Assessing the Potential Strength of a Bank Capital Channel in Europe: A Principal Component Analysis," Larefi Working Papers 201006, Larefi, Université Bordeaux 4.
- Moulton, Brent R, 1990. "An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Unit," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 334-338, May.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ryan Niladri Banerjee & Kristian S Blickle, 2016. "Housing collateral and small firm activity in Europe," BIS Working Papers 575, Bank for International Settlements.
- repec:hal:spmain:info:hdl:2441/75koqefued8i7pihbrl9u84p4u is not listed on IDEAS
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2023.
"Sectoral reallocations, real estate shocks, and productivity divergence in Europe,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(1), pages 101-132, February.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2019. "Sectoral reallocations, Real estate shocks, and productivity divergence in Europe," Working Papers 2019-09, CEPII research center.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2022. "Sectoral reallocations, real estate shocks, and productivity divergence in Europe," Post-Print hal-03701538, HAL.
- Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2022. "Sectoral reallocations, real estate shocks, and productivity divergence in Europe," Post-Print hal-03954554, HAL.
- Rong, Zhao & Wang, Wenchun & Gong, Qiang, 2016. "Housing price appreciation, investment opportunity, and firm innovation: Evidence from China," Journal of Housing Economics, Elsevier, vol. 33(C), pages 34-58.
- Rong, Zhao & Leng, Fei & Ma, Jun & Ni, Jinlan, 2024. "Real estate depreciation and cash policy for innovative firms," International Review of Financial Analysis, Elsevier, vol. 95(PB).
- Banerjee, Ryan & Blickle, Kristian, 2021.
"Financial frictions, real estate collateral and small firm activity in Europe,"
European Economic Review, Elsevier, vol. 138(C).
- Ryan N. Banerjee & Kristian S. Blickle, 2018. "Financial frictions, real estate collateral, and small firm activity in Europe," Staff Reports 868, Federal Reserve Bank of New York.
- repec:spo:wpmain:info:hdl:2441/75koqefued8i7pihbrl9u84p4u is not listed on IDEAS
- Campello, Murillo & Connolly, Robert A. & Kankanhalli, Gaurav & Steiner, Eva, 2022. "Do real estate values boost corporate borrowing? Evidence from contract-level data," Journal of Financial Economics, Elsevier, vol. 144(2), pages 611-644.
- Kame Babilla, Thierry U., 2023. "Digital innovation and financial access for small and medium-sized enterprises in a currency union," Economic Modelling, Elsevier, vol. 120(C).
- Chen, Pu & Wang, Chunyang & Liu, Yangyan, 2015. "Real estate prices and firm borrowings: Micro evidence from China," China Economic Review, Elsevier, vol. 36(C), pages 296-308.
- Thomas Chaney & David Sraer & David Thesmar, 2012.
"The Collateral Channel: How Real Estate Shocks Affect Corporate Investment,"
American Economic Review, American Economic Association, vol. 102(6), pages 2381-2409, October.
- Thomas Chaney & David Sraer & David Thesmar, 2010. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," NBER Working Papers 16060, National Bureau of Economic Research, Inc.
- Thomas Chaney & David Sraer & David Thesmar, 2012. "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment," Post-Print hal-01009900, HAL.
- Horan, Aoife & Jarmulska, Barbara & Ryan, Ellen, 2023. "Asset prices, collateral and bank lending: the case of Covid-19 and real estate," Working Paper Series 2823, European Central Bank.
- Wu, Yan & Heerink, Nico & Yu, Linhui, 2024. "Beyond the collateral channel: Real estate prices and manufacturing firm investment in China," International Review of Economics & Finance, Elsevier, vol. 94(C).
- Cheol Eun & Lingling Wang & Tim Zhang, 2022. "House Price Growth Synchronization and Business Cycle Alignment," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 675-710, November.
- Alimov, Azizjon, 2016. "Product market effects of real estate collateral," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 75-92.
- Dong Cheng & Yong Tan & Jian Yu, 2021. "Credit rationing and firm exports: Microeconomic evidence from small and medium‐sized enterprises in China," The World Economy, Wiley Blackwell, vol. 44(1), pages 286-311, January.
- Gareth Anderson & Saleem Bahaj & Matthieu Chavaz & Angus Foulis & Gabor Pinter, 2023.
"Lending Relationships and the Collateral Channel,"
Review of Finance, European Finance Association, vol. 27(3), pages 851-887.
- Anderson, Gareth & Bahaj, Saleem & Chavaz, Matthieu & Foulis, Angus & Pinter, Gabor, 2018. "Lending relationships and the collateral channel," LSE Research Online Documents on Economics 90371, London School of Economics and Political Science, LSE Library.
- Anderson, Gareth & Bahaj, Saleem & Chavaz, Matthieu & Foulis, Angus & Pinter, Gabor, 2018. "Lending relationships and the collateral channel," Bank of England working papers 768, Bank of England.
- Gareth Anderson & Saleem Bahaj & Matthieu Chavaz & Angus Foulis & Gabor Pinter, 2018. "Lending Relationships and the Collateral Channel," Discussion Papers 1813, Centre for Macroeconomics (CFM).
- Arun Gupta & Horacio Sapriza & Vladimir Yankov, 2023.
"The Collateral Channel and Bank Credit,"
Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 23(33), October.
- Arun Gupta & Horacio Sapriza & Vladimir Yankov, 2022. "The Collateral Channel and Bank Credit," Finance and Economics Discussion Series 2022-024, Board of Governors of the Federal Reserve System (U.S.).
- Arun Gupta & Horacio Sapriza & Vladimir Yankov, 2022. "The Collateral Channel and Bank Credit," Working Paper 22-04, Federal Reserve Bank of Richmond.
- Li, Tongxia & Lu, Chun & Chen, Zhihua, 2023. "The unintended consequence of collateral-based financing: Evidence from corporate cost behavior," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(1).
- Jing Wu & Joseph Gyourko & Yongheng Deng, 2013. "Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?," NBER Working Papers 18762, National Bureau of Economic Research, Inc.
- Gabriel, Ricardo Duque, 2024.
"The Credit Channel of Public Procurement,"
Journal of Monetary Economics, Elsevier, vol. 147(S).
- Ricardo Duque Gabriel, 2022. "The Credit Channel of Public Procurement," GEE Papers 0171, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Nov 2022.
- Wu, Jing & Gyourko, Joseph & Deng, Yongheng, 2015. "Real estate collateral value and investment: The case of China," Journal of Urban Economics, Elsevier, vol. 86(C), pages 43-53.
More about this item
Keywords
Collateral Channel; Firm Heterogeneity; Cross-Country Study; Micro and Macro Estimates;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:cesptp:hal-04929440. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.