Abstract Analyzing the period 1988–2006, we document that banks that are active in strong
housing markets increase mortgage lending and decrease commercial lending. Firms that …

We study risk management in financial institutions using data on hedging of interest rate and
foreign exchange risk. We find strong evidence that institutions with higher net worth hedge …

By exploiting variation in state capital gains taxation as an instrument, we analyze the
economic consequences of housing speculation during the US housing boom in the 2000s …

How 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 …

Using a unique dataset of 4, 5 million offers, the housing cycles in 18 Polish provincial
capitals were identified between 2000 and 2020 before and after the financial crisis …

This study investigates the mortgage lending of banks operating in multiple US metropolitan
areas during the housing market collapse of 2007–09. We show that multimarket banks …

We show that a bank's knowledge of an industry developed through its loan portfolio
facilitates the bank's credit provision to other firms in that industry. This effect works beyond …

What are the effects of a housing bubble on the rest of the economy? We show that if firms
and banks face collateral constraints, a housing bubble initially raises credit demand by …

Evidence from developed markets suggests that banks increase their mortgage loans with
house price appreciation, but the findings for commercial and consumer loans are mixed …

Did the rise of Chinese import competition in the early 2000s affect banks' credit supply
policies? Using bank-firm-level data on the universe of Spanish corporate loans, we find that …