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June 1999 Number 78 |
JEL classification: G21, E44 |
Authors: R. Glenn Hubbard, Kenneth N. Kuttner, and DariusN.Palia We use a large matched sample of individual loans, borrowers, and banks to investigate whether bank financial health affects terms of lending, holding constant proxies for borrower risk and information costs. In particular, we focus on measuring effects of borrower and bank characteristics on loan interest rates; we also investigate implications of borrower and bank characteristics for indirect measures of credit availability. |
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For a published version of this report, see R. Glenn Hubbard, Kenneth N. Kuttner and Darius N. Palia, "Are There Bank Effects in Borrowers' Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks," Journal of Business 75, no. 4 (October 2002): 559-81. |