Jiménez, GabrielOngena, StevenPeydró, José-LuisSaurina, JesúsUniversitat Pompeu Fabra. Departament d'Economia i Empresa2020-05-252020-05-252017-04-01http://hdl.handle.net/10230/32642We analyze the impact of balance-sheet strength on credit availability. Bank balance sheets are weak in crisis times, but so are those of firms, and credit demand is then also weak. For identification, we exploit an administrative dataset of loan applications matched with bank and firm variables covering Spain from 2002 to 2010. Bank balance-sheet strength determines the granting of loan applications only in crisis times, while firm balance-sheet strength notably leverage determines strongly this granting in both good and crisis times. Our findings underscore the importance of the strength of corporate balance sheets over credit supply for credit availability.application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative CommonsDo demand or supply factors drive bank credit,in good and crisis times?<resourceType xmlns="http://datacite.org/schema/kernel-3" resourceTypeGeneral="Other">info:eu-repo/semantics/workingPaper</resourceType><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">firm balance-sheet channel</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">credit demand</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">bank lending channel</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">credit supply</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">business cycle</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">credit crunch</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">leverage.</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">Finance and Accounting</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">Macroeconomics and International Economics</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">Labour, Public, Development and Health Economics</subject><rights xmlns="http://datacite.org/schema/kernel-3">info:eu-repo/semantics/openAccess</rights>