Publications in Refereed Journals

[32] Putting Countries on the Map? Pastoral Visits of John Paul II and International Trade

Economic Journal, conditionally accepted.

[31] Is Religion an Inferior Good? Evidence from Fluctuations in Housing Wealth

(with Luc Laeven and Clara Sievert)
Journal of Economic Behavior and Organization, 217, pp. 705-725, January 2024.

[30] Carbon Taxes and the Geography of Fossil Lending

(with Luc Laeven)
Journal of International Economics, 144, September 2023.

[29] Credit Shocks, Employment Protection, and Growth: Firm-Level Evidence from Spain

(with Luc Laeven and Peter McAdam)
Journal of Banking & Finance, 152, July 2023.

[28] Finance and Green Growth

(with Ralph De Haas)
Economic Journal, 133(650), pp. 637–668, February 2023.

[27] Unconventional Monetary Policy, Funding Expectations, and Firm Decisions

(with Annalisa Ferrando and Gregory F. Udell)
European Economic Review, 149, October 2022.

[26] The Division of Spoils in a Booming Industry

Journal of Economic Behavior & Organization, 198, pp. 341-369, June 2022.

[25] Political Cycles in Bank Lending to the Government

(with Michael Koetter)
Review of Financial Studies, 34(6), pp. 3138-3180, June 2021.

[24] Debt Overhang, Global Growth Opportunities, and Investment

(with Francesca Barbiero and Marcin Wolski)
Journal of Banking & Finance, 120(C), November 2020.

[23] On the Link Between the Volatility and Skewness of Growth

(with Geert Bekaert)
IMF Economic Review, 66(4), pp. 746-790, December 2019.

[22] The Invisible Hand of the Government: Moral Suasion During the Sovereign Debt Crisis

(with Steven Ongena and Neeltje Van Horen)
American Economic Journal: Macroeconomics, 11(4), pp. 346–379, October 2019.

[21] Do SMEs Benefit from Unconventional Monetary Policy and How? Micro-Evidence from the Eurozone

(with Annalisa Ferrando and Gregory F. Udell)
Journal of Money, Credit and Banking, 51(4), pp. 895–928, June 2019.

[20] Credit Market Competition and the Gender Gap in Labor Force Participation: Evidence from Local Labor Markets

(with Sonia Zaharia)
European Economic Review, 115, pp. 25-59, June 2019.

[19] Do Credit Shocks Affect Labor Demand? Evidence from Employment and Wages during the Financial Crisis

(with Jorg Rocholl)
Journal of Financial Intermediation, 36, pp. 16–27, October 2018.

[18] Waking Up from the American Dream: On the Experience of Young Americans during the Housing Boom of the 2000s

(with Luc Laeven)
Journal of Money, Credit and Banking, 49(5), pp. 861-895, August 2017 (Lead article).

[17] Sovereign Stress and SMEs' Access to Finance: Evidence from the ECB's SAFE Survey

(with Annalisa Ferrando and Gregory F. Udell)
Journal of Banking & Finance, 81, pp. 65-80, August 2017.

[16] Gender Bias and Credit Access

(with Steven Ongena)
Journal of Money, Credit and Banking, 48(8), pp. 1691–1724, December 2016.

[15] A Lost Generation? Education Decisions and Employment Outcomes during the Housing Boom-Bust Cycle of the 2000s

(with Luc Laeven)
American Economic Review Papers & Proceedings, 106(5), pp. 630–635, May 2016.

[14] Monetary Policy, Bank Capital, and Credit Supply: A Role for Discouraged and Informally Rejected Firms

International Journal of Central Banking, 12(1), pp. 95–141, March 2016.

[13] Exporting Sovereign Stress: Evidence from Syndicated Bank Lending During the Euro Area Sovereign Debt Crisis

(with Neeltje Van Horen)
Review of Finance, 19(5), pp. 1825–1866, August 2015.

[12] House Prices, Home Equity Borrowing, and Entrepreneurship

(with Stefano Corradin)
Review of Financial Studies, 28(8), pp. 2399–2428, August 2015.

[11] Financial Development, Sectoral Reallocation, and Volatility: International Evidence

(with Simone Manganelli)
Journal of International Economics, 96(2), pp. 323–337, July 2015.

[10] Venture Capital and Industry Structure: Evidence from Local U.S. Markets

Review of Finance, 18(3), pp. 1059–1096, July 2014.

[9] Credit Constraints, Equity Market Liberalization, and Growth Rate Asymmetry

Journal of Development Economics, 107(1), pp. 202–214, March 2014.

[8] Credit Constraints and Investment in Human Capital: Training Evidence from Emerging Markets

Journal of Financial Intermediation, 23(1), pp. 76–100, January 2014.

[7] Venture Capital and New Business Creation

(with Peter Roosenboom)
Journal of Banking & Finance, 37(12), pp. 4695–4710, December 2013.

[6] Financial Dependence, Global Growth Opportunities, and Growth Revisted

(with Simone Manganelli)
Economics Letters, 120(1), pp. 123–135, July 2013.

[5] 'When the Cat's Away the Mice Will Play': Does Regulation At Home Affect Bank Risk Taking Abroad?

(with Steven Ongena and Gregory F. Udell)
Journal of Financial Economics, 108(3), pp. 727–750, June 2013.

[4] Venture Capital and Patented Innovation: Evidence from Europe

(with Peter Roosenboom)
Economic Policy, 28(71), pp. 447–482, July 2012.

[3] Cross-Border Banking, Credit Access, and the Financial Crisis

(with Gregory F. Udell)
Journal of International Economics, 87(1), pp. 147–161, May 2012.

[2] Interbank Market Integration, Loan Rates, and Firm Leverage

(with Steven Ongena)
Journal of Banking & Finance, 35(3), pp. 544–560, March 2011.

[1] Who Needs Credit and Who Gets Credit in Eastern Europe?

(with Martin Brown, Steven Ongena, and Pinar Yesin)
Economic Policy, 26(65), pp. 93–130, January 2011.

Published Discussions

[3] Discussion of Alessi, Bruno, Carletti, and Neugebauer

Economic Policy, 36(108), pp. 719–721, October 2021.

[2] Discussion of Saka

Journal of Money, Credit and Banking, 52(S1), pp. 307–311, October 2020.

[1] Discussion of Frost, Gambacorta, Huang, Shin, and Zbinden

Economic Policy, 34(100), pp. 794–796, October 2019.

Chapters

[5] Evidence on Finance and Economic Growth

In Handbook of Finance and Development, Beck, T., Levine, R. (eds.), 2018, Edward Edgar Publishing.

[4] Misallocation of Investment in Europe: The Role of Debt Overhang and Credit Market Distress

In Finance and Investment: The European Case, Mayer, C., Micossi, S., Onado, M., Pagano, M., Polo, A. (eds.), 2018, Oxford University Press: Oxford, UK.

[3] Banks’ Love Story with Sovereign Debt: Causes, Consequences, and Policy

In The Future of Large Internationally Active Banks, Demirguc-Kunt, A., Evanoff, D., Kaufman, G. (eds.), 2017, World Scientific Publishing.

[2] Financial Markets: Productivity, Procyclicality, and Policy

(with Frank Smets)
In Financial Innovation: Too Much or Too Little?, M. Haliassos (ed.), 2013, MIT Press: Cambridge, MA.

[1] Output Growth Variability: The Role of Financial Markets

In The Role of Central Banks in Financial Stability, Evanoff, D., Holthausen, C., Kaufman, G. (eds.), 2013, World Scientific Publishing.

Books

[1] Does Private Sector Participation Improve Performance in Electricity and Water Distribution?

(with Katharina Gassner and Natalia Pushak)
World Bank Publications, The World Bank, number 6605, July 2009.