Local Versus Aggregate Lending Channels: The Effects Of Securitization On Corporate Credit Supply In Spain
NBER Working Paper No. 16595
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The results or views expressed in this study are those of the authors and do not necessarily reflect those of the Banco de España, European Central Bank and Eurosystem. Corresponding Author: Mian, (510) 643 1425, firstname.lastname@example.org. We thank Michael Weber for excellent research assistance and Asim Khwaja and Amir Sufi for extremely helpful comments and discussion. We would also like to thank seminar participants at the University of Chicago Booth School of Business, European Central Bank, Universitat Pompeu Fabra, New York Federal Reserve, University of Michigan (Ross), Notre Dam, and University of California Berkeley for comments. Financial support from the Coleman Fung Risk Management Research Center at University of California Berkeley is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.