Within-Bank Spillovers of Real Estate Shocks
将银行视为不同地区资产的组合，研究房地产价格下跌如何通过银行内部业务领域传导，影响房地产和非房地产贷款，并导致问题贷款展期和不良贷款增加。
By considering banks as portfolios of assets in different locations, we study how real estate shocks are transmitted across bank’s business areas, while controlling for local demand shocks and bank location-specific factors. Affected banks substantially alter their loan portfolios: we find evidence of real estate price declines affecting both real estate and non-real-estate types of lending. Banks also roll over and fail to liquidate problematic loans, while accumulating more nonperforming loans. These results provide evidence of internal contagion in real estate shocks within banks. \n \n