Adelino, M., Schoar, A., and Severino, F. (2015): House prices, collateral, and self-employment, Journal of Financial Economics 117, 288â306.
Aghion, P. and Bolton, P. (1997): A theory of trickle-down growth and development, Review of Economic Studies 64, 151â172.
Ai, H., Kiku, D., Li, R., and Tong, J. (2021): A unified model of firm dynamics with limited commitment and assortative matching, The Review of Finance 76, 317â356.
Albuquerque, R. and Hopenhayn, H. A. (2004): Optimal lending contracts and firm dynamics, Review of Economic Studies 71, 285â315.
Bahaj, S., Foulis, A., and Pinter, G. (2020): Home values and firm behavior, American Economic Review 110, 2225â2270.
- Bahaj, S., Pinter, G., Foulis, A., and Surico, P. (2019): Employment and the collateral channel of monetary policy. Bank of England Staff Working Paper 827.
Paper not yet in RePEc: Add citation now
- Bank for International Settlements. (2019) Big techs in finance: Opportunities and risks. BIS Annual Economic Report June.
Paper not yet in RePEc: Add citation now
Berg, T., Burg, V., Gombovi c, A., and Puri, M. (2020): On the rise of fintechsâcredit scoring using digital footprints, Review of Financial Studies 33, 2845â2897. 396 L. Gambacorta et al.
Bernanke, B. and Gertler, M. (1989): Agency costs, net worth, and business fluctuations, American Economic Review 79, 14â31.
Bernanke, B. S., Gertler, M., and Gilchrist, S. (1999): The financial accelerator in a quantitative business cycle framework, Handbook of Macroeconomics 1, 1341â1393.
Besanko, D. and Thakor, A. V. (1987): Competitive equilibrium in the credit market under asymmetric information, Journal of Economic Theory 42, 167â182.
Bester, H. (1985): Screening vs. rationing in credit markets with imperfect information, American Economic Review 75, 850â855.
Boyd, J. H. and Smith, B. D. (1994): How good are standard debt contracts? Stochastic versus non-stochastic monitoring in a costly state verification environment, Journal of Business 67, 539â561.
Chan, Y. S. and Kanatas, G. (1985): Asymmetric valuations and the role of collateral in loan agreements, Journal of Money, Credit and Banking 17, 84â95.
Chaney, T., Sraer, D., and Thesmar, D. (2012): The collateral channel: how real estate shocks affect corporate investment, American Economic Review 102, 2381â2409.
Cloyne, J., Ferreira, C., Froemel, M., and Surico, P. (2018): Monetary policy, corporate finance and investment. NBER Working Paper 25366.
Cooley, T., Marimon, R., and Quadrini, V. (2004): Aggregate consequences of limited contract enforceability, Journal of Political Economy 112, 817â847.
Cornelli, G., Frost, J., Gambacorta, L., Rau, R., Wardop, R., and Ziegler, T. (2020): Fintech and big tech credit: a new database. BIS Working Papers 887.
- Data versus Collateral 397 Downloaded from https://academic.oup.com/rof/article/27/2/369/6569096 by guest on March Ioannidou, V., Pavanini, N., and Peng, Y. (2022): Collateral and asymmetric information in lending markets, Journal of Financial Economics 144, 93â121.
Paper not yet in RePEc: Add citation now
- De Roure, C., Pelizzon, L., and Tasca, P. (2016): How does P2P lending fit into the consumer credit market? Deutsche Bundesbank Discussion Papers 30.
Paper not yet in RePEc: Add citation now
Doerr, S. (2021): Stress tests, entrepreneurship, and innovation, Review of Finance 25, 1609â1637.
- Downloaded from https://academic.oup.com/rof/article/27/2/369/6569096 by guest on March Bernanke, B. (1983): Nonmonetary effects of the financial crisis in the propagation of the great depression, American Economic Review 73, 257â276.
Paper not yet in RePEc: Add citation now
Favara, G. and Imbs, J. (2015): Credit supply and the price of housing, The American Economic Review 105, 958â992.
Frost, J., Gambacorta, L., Huang, Y., Shin, H. S., and Zbinden, P. (2019): Big tech and the changing structure of financial intermediation, Economic Policy 34, 761â799.
- FSB. (2019): Evaluation of the effects of financial regulatory reforms on small and medium-sized enterprise (SME) financing. Consultative document, June.
Paper not yet in RePEc: Add citation now
Gale, D. and Hellwig, M. (1985): Incentive-compatible debt contracts: the one-period problem, The Review of Economic Studies 52, 647â663.
Gan, J. (2007): Collateral, debt capacity, and corporate investment: evidence from a natural experiment, Journal of Financial Economics 85, 709â734.
Gertler, M. and Gilchrist, S. (1994): Monetary policy, business cycles, and the behavior of small manufacturing firms, The Quarterly Journal of Economics 109, 309â340.
Glaeser, E. L., Huang, W., Ma, Y., and Shleifer, A. (2017): A real estate boom with Chinese characteristics, Journal of Economic Perspectives 31, 93â116.
Hau, H. and Ouyang, D. (2018): Capital scarcity and industrial decline: Evidence from 172 real estate booms in China. Swiss Finance Institute Research Paper 38.
Hau, H., Huang, Y., Shan, H., and Sheng, Z. (2021): Fintech credit and entrepreneurial growth. Swiss Finance Institute Research Paper 47.
He, Z. and Kondor, P. (2016): Inefficient investment waves, Econometrica 84, 735â780.
Holmstr⬠om, B. and Tirole, J. (1997): Financial intermediation, loanable funds and the real sector, Quarterly Journal of Economics 112, 663â691.
Huang, Y., Zhang, L., Li, Z., Qiu, H., Sun, T., and Wang, X. (2020): Fintech credit risk assessment for SMEs: Evidence from China. IMF Working Paper 193.
- Jagtiani, J. and Lemieux, C. (2018a): The roles of alternative data and machine learning in fintech lending: Evidence from the lending club consumer platform. Federal Reserve Bank of Philadelphia Working Papers 15.
Paper not yet in RePEc: Add citation now
- Jagtiani, J. and Lemieux, C. (2018b): Do fintech lenders penetrate areas that are underserved by traditional banks. Federal Reserve Bank of Philadelphia Working Papers 13.
Paper not yet in RePEc: Add citation now
- Jeenas, P. (2018): Monetary Policy Shocks, Financial Structure, and Firm Activity: A Panel Approach, New York University, mimeo.
Paper not yet in RePEc: Add citation now
Jimenez, G., Ongena, S., Peydro, J. L., and Saurina, J. (2014): Hazardous times for monetary policy: what do twenty-three million bank loans say about the effects of monetary policy on credit risk-taking?, Econometrica 82, 463â505.
Khwaja, A. and Mian, A. (2008): Tracing the impact of bank liquidity shocks: evidence from an emerging market, The American Economic Review 98, 1413â1442.
- Kiyotaki, N. and Moore, J. (1997): Credit cycles, Journal of Political Economy 105, 211â248.
Paper not yet in RePEc: Add citation now
Kocherlakota, N. R. (1996): Implications of efficient risk sharing without commitment, The Review of Economic Studies 63, 595â609.
Lian, C. and Ma, Y. (2021): Anatomy of corporate borrowing constraints, The Quarterly Journal of Economics 136, 229â291.
Lorenzoni, G. (2008): Inefficient credit booms, The Review of Economic Studies 75, 809â833.
- Luohan Academy. (2019): Digital technology and inclusive growth. Hangzhou.
Paper not yet in RePEc: Add citation now
Mian, A. and Sufi, A. (2011): House prices, home equity-based borrowing, and the US household leverage crisis, The American Economic Review 101, 2132â2156.
- OECD. (2019): Financing SMEs and entrepreneurs 2019: an OECD Scoreboard. Paris.
Paper not yet in RePEc: Add citation now
Ottonello, P. and Winberry, T. (2020): Financial heterogeneity and the investment channel of monetary policy, Econometrica 88, 2473â2502.
Schmalz, M. C., Sraer, D. A., and Thesmar, D. (2017): Housing collateral and entrepreneurship, The Journal of Finance 72, 99â132.
Tang, H. (2019): Peer-to-peer lenders versus banks: substitutes or complements?, The Review of Financial Studies 32, 1900â1938.
Waxman, A., Liang, Y., Li, S., Barwick, P. J., and Zhao, M. (2020): Tightening belts to buy a home: consumption responses to rising housing prices in urban China, Journal of Urban Economics 115, 103190â103190. 398 L. Gambacorta et al. Downloaded from https://academic.oup.com/rof/article/27/2/369/6569096 by guest on March