Loan guarantees and credit supply

The efficiency of federal lending guarantees depends on whether guarantees increase lending supply or simply act as a subsidy to lenders. We use notches in the guarantee rate schedule for Small Business Administration (SBA) loans to estimate the elasticity of bank lending volume to loan guarantees....

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Bibliographic Details
Published in:Journal of financial economics 2021-03, Vol.139 (3), p.872-894
Main Authors: Bachas, Natalie, Kim, Olivia S., Yannelis, Constantine
Format: Article
Language:English
Subjects:
Bank lending
Bank loans
Borrowing
Business schools
Credit
Federal Reserve banks
Financial economics
Government loans
Guaranteed loans
Guarantees
Lending
Loan guarantee
Loans
Placebo effect
Policy
Small business
Small business loans
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