NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Relationship and Transaction Lending in a Crisis

Patrick Bolton, Xavier Freixas, Leonardo Gambacorta, Paolo Emilio Mistrulli

NBER Working Paper No. 19467
Issued in September 2013

---- Acknowledgements -----

We would like to thank Claudio Borio, Mariassunta Giannetti, Roman Inderst, Natalya Martinova, Lars Norden, Enrico Perotti, Joel Shapiro, Greg Udell and in particular two anonymous referees for comments and suggestions. Support from 07 Ministerio de Ciencia e Innovación, Generalitat de Catalunya, Barcelona GSE, Ministerio de Economía y Competitividad) - ECO2008-03066, Banco de España-Excelencia en Educación-"Intermediación Financiera y Regulación" is gratefully acknowledged. This study was in part developed while Paolo Emilio Mistrulli was ESCB/IO expert in the Financial Research Division at the European Central Bank. The views expressed herein are those of the authors and do not necessarily reflect the views of the Bank of Italy, the Bank for International Settlements, or the National Bureau of Economic Research.

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