This paper studies the dynamics of credit supply when a negative shock impacts a substantial share of bank loans. The analysis exploits the 2014 collapse of energy prices, using the universe of Mexican commercial bank loans. The findings show that, after the drop in energy prices, the credit default swap spreads (CDS) of firms in the energy sector soared, and banks that were more exposed to the energy sector increased even more their exposure ex post...
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INFORMATION
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2020/04/02
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Document de travail de recherche sur les politiques
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WPS9202
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1
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1
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2020/04/02
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Disclosed
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Owe a Bank Millions, the Bank Has a Problem : Credit Concentration in Bad Times
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Energy Sector
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