Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties

Lending cuts by banks directly affect the firms borrowing from them, but also indirectly depress economic activity in the regions in which they operate. This paper moves beyond firm-level studies by estimating the effects of an exogenous lending cut by a large German bank on firms and counties. I co...

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Bibliographic Details
Published in:The American economic review 2018-03, Vol.108 (3), p.868-898
Main Author: Huber, Kilian
Format: Article
Language:English
Subjects:
Aggregate demand
Banking
Banks
Companies
Counties
Economic activity
Economic crisis
Economic theory
Employment
Innovations
Productivity
Regions
Spillover effect
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