|
|
|
|
| LEADER |
02962nmm a2200673 u 4500 |
| 001 |
EB001825505 |
| 003 |
EBX01000000000000000991951 |
| 005 |
00000000000000.0 |
| 007 |
cr||||||||||||||||||||| |
| 008 |
180614 ||| eng |
| 020 |
|
|
|a 9781475588668
|
| 100 |
1 |
|
|a Dörr, Sebastian
|
| 245 |
0 |
0 |
|a Credit-Supply Shocks and Firm Productivity in Italy
|c Sebastian Dörr, Mehdi Raissi, Anke Weber
|
| 260 |
|
|
|a Washington, D.C.
|b International Monetary Fund
|c 2017
|
| 300 |
|
|
|a 29 pages
|
| 651 |
|
4 |
|a Italy
|
| 653 |
|
|
|a Supply shocks
|
| 653 |
|
|
|a Capital and Total Factor Productivity
|
| 653 |
|
|
|a Economic Theory
|
| 653 |
|
|
|a Financial institutions
|
| 653 |
|
|
|a Production
|
| 653 |
|
|
|a Loans
|
| 653 |
|
|
|a Agriculture: Aggregate Supply and Demand Analysis
|
| 653 |
|
|
|a Finance
|
| 653 |
|
|
|a Total factor productivity
|
| 653 |
|
|
|a Banking
|
| 653 |
|
|
|a Capacity
|
| 653 |
|
|
|a Mortgages
|
| 653 |
|
|
|a Supply and demand
|
| 653 |
|
|
|a Depository Institutions
|
| 653 |
|
|
|a Cost
|
| 653 |
|
|
|a Financial Markets and the Macroeconomy
|
| 653 |
|
|
|a Bank credit
|
| 653 |
|
|
|a Industries: Financial Services
|
| 653 |
|
|
|a Economic theory & philosophy
|
| 653 |
|
|
|a Money
|
| 653 |
|
|
|a Banks and banking
|
| 653 |
|
|
|a Banks
|
| 653 |
|
|
|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
|
| 653 |
|
|
|a Credit
|
| 653 |
|
|
|a Industrial productivity
|
| 653 |
|
|
|a Money and Monetary Policy
|
| 653 |
|
|
|a Banks and Banking
|
| 653 |
|
|
|a Financial Crises
|
| 653 |
|
|
|a Economic theory
|
| 653 |
|
|
|a Macroeconomics
|
| 653 |
|
|
|a Production and Operations Management
|
| 653 |
|
|
|a Micro Finance Institutions
|
| 653 |
|
|
|a Monetary economics
|
| 653 |
|
|
|a Prices
|
| 700 |
1 |
|
|a Raissi, Mehdi
|
| 700 |
1 |
|
|a Weber, Anke
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
|
|b IMF
|a International Monetary Fund
|
| 490 |
0 |
|
|a IMF Working Papers
|
| 028 |
5 |
0 |
|a 10.5089/9781475588668.001
|
| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2017/067/001.2017.issue-067-en.xml?cid=44762-com-dsp-marc
|x Verlag
|3 Volltext
|
| 082 |
0 |
|
|a 330
|
| 520 |
|
|
|a 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
|