Production and financial networks in interplay : crisis evidence from supplier-customer and credit registers
Mostra el registre complet Registre parcial de l'ítem
- dc.contributor.author Huremovic, Kenan
- dc.contributor.author Jiménez Zambrano, Gabriel
- dc.contributor.author Moral-Benito, Enrique
- dc.contributor.author Peydró, José-Luis
- dc.contributor.author Vega-Redondo, Fernando
- dc.date.accessioned 2021-02-12T12:49:22Z
- dc.date.available 2021-02-12T12:49:22Z
- dc.date.issued 2020-07-09
- dc.description.abstract We show that bank shocks originating in the financial sector propagate upstream and downstream along the production network and triple the impact of direct bank shocks. Our identification relies on the universe of both supplier-customer transactions and bank loans in Spain, a standard operationalization of credit-supply shocks during the 2008–09 global crisis, and the proposed theoretical framework. The impact on real effects is strong, and similarly so, when considering: (i) direct bank shocks to firms versus first-order interfirm contagion; (ii) first-order versus higher-order network effects; (iii) downstream versus upstream propagation; (iv) firm-specific versus economy-wide shocks. Market concentration amplifies these effects.ca
- dc.format.mimetype application/pdf*
- dc.identifier.uri http://hdl.handle.net/10230/46466
- dc.language.iso engca
- dc.relation.ispartofseries Barcelona GSE Working Paper;1191
- dc.rights.accessRights info:eu-repo/semantics/openAccessca
- dc.subject.other Networksca
- dc.subject.other Supply chainsca
- dc.subject.other Shock propagationca
- dc.subject.other Credit supplyca
- dc.subject.other Real effects of financeca
- dc.title Production and financial networks in interplay : crisis evidence from supplier-customer and credit registersca
- dc.type info:eu-repo/semantics/workingPaperca