We review research on the effects of banks on the real economy, including, but not limited to
articles in this Special Issue of the Journal of Corporate Finance. We focus primarily on US …

Abstract Launched in Summer 2012, the European Central Bank's (ECB) Outright Monetary
Transactions (OMT) program indirectly recapitalized European banks through its positive …

Exploiting confidential data from the euro area, we show that sound banks pass negative
rates on to their corporate depositors and that pass-through is not impaired when policy …

Notes: In the top panel, each dot represents a decile of the distribution of monthly bank stock
returns in the euro area. The sample is an unbalanced panel of 323 euro area banks …

We analyze how time-varying bank-specific capital requirements affect bank lending to the
non-financial corporate sector as well as banks' balance sheet adjustments. To do so, we …

This paper provides evidence on the strategic lending decisions made by banks facing a
negative funding shock. Using bank–firm level credit data, we show that banks reallocate …

Recent studies of monetary policy in developing countries document a weak bank lending
channel based on aggregate data. In this paper, we bring new evidence using Uganda's …

Does investors' political ideology shape international capital allocation? We provide
evidence from two settings—syndicated corporate loans and equity mutual funds—to show …

The response of major central banks to the global financial crisis has revived the debate
around the interactions between monetary policy (MP) and bank stability. This technical …

We investigate whether government credit guarantee schemes, extensively used at the
onset of the Covid-19 pandemic, led to substitution of non-guaranteed with guaranteed …