| 000 | 01672nab a2200301 c 4500 | ||
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| 003 | ES-MaIEF | ||
| 005 | 20210416100118.0 | ||
| 007 | ta | ||
| 008 | 210416s2021 us ||||| |||| 00| 0|eng d | ||
| 040 |
_cES-MaIEF _aES-MaIEF _bspa |
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| 100 | 1 |
_aMartín Moreno, Alberto _928089 |
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| 245 | 4 |
_aThe financial transmission of housing booms _bevidence from Spain _c by Alberto Martín, Enrique Moral-Benito, Tom Schmit |
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| 260 | _c2021 | ||
| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aHow does a housing boom affect credit to non-housing firms? Using bank, firm, and loan-level microdata, we show that the Spanish housing boom reduced non-housing credit growth during its first years, but stimulated it later on. These patterns can be rationalized by financial constraints for banks. Constrained banks initially accommodated higher housing credit demand by reducing non-housing credit. Eventually, however, the housing boom increased bank net worth and expanded credit supply. A quantitative model, disciplined by our cross-sectional estimates, indicates that the crowding-out effect was substantial but temporary, and had been fully absorbed by the end of the boom. | ||
| 650 | 4 |
_932280 _aBANCOS |
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| 650 | 4 |
_941517 _aCREDITOS BANCARIOS |
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| 650 | 4 |
_948129 _aEMPRESAS |
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| 650 | 4 |
_948710 _aVIVIENDA |
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| 650 | 4 |
_943504 _aPRESTAMOS HIPOTECARIOS |
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| 650 | 4 |
_aESPAÑA _941092 |
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| 650 | 4 |
_947776 _aMODELOS ECONOMETRICOS |
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| 700 |
_958145 _aMoral Benito, Enrique |
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| 700 | 1 |
_966856 _aSchmitz, Tom |
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| 773 | 0 |
_9164673 _oOP 234/2021/3 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _gv. 111, n. 3, March 2021, p. 1013-1053 |
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| 942 | _cART | ||