This paper studies the distribution of credit during crisis times and its impact on firm indebtedness and macroeconomic risk. Whereas policies can help firms in need of financing, they can lead to adverse selection from riskier firms and higher default risk. The paper analyzes a large-scale program of public credit guarantees in Chile during the COVID-19 pandemic using unique transaction-level data on the demand and supply of credit, matched with...
انظر المزيد
تفاصيل
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2022/2/14
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ورقة عمل خاصة ببحوث السياسات
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WPS9937
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1
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1
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2022/2/14
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Disclosed
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The Distribution of Crisis Credit : Effects on Firm Indebtedness and Aggregate Risk
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credit program
تنزيل الملفات
تقرير كامل
نسخة رسمية من الوثيقة (قد تضم توقيعات، الخ)
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