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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Do exposures to sagging real estate, subprime or conduits abroad lead to contraction and flight to quality in bank lending at home?
Organization Unit
  • Steven Ongena
  • Gunseli Tumer-Alkan
  • Natalja v. Westernhagen
Item Subtype Original Work
Refereed Yes
Status Published electronically before print/final form (Epub ahead of print)
  • English
Journal Title Review of Finance
Publisher Springer
Geographical Reach international
Volume forthcoming
Page Range -
Date 2018
Abstract Text We investigate how differential exposures by German banks to the US real estate market during the 2007 subprime crisis affect their corporate lending in Germany. We find that banks with an exposure to the US real estate sector and to conduits cut their lending to German firms by more following a decrease in US home prices than banks that do not have such exposure. Moreover, these banks then also shift their lending to industry–region combinations with lower insolvency ratios.
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