Do Credit Supply Shocks Affect Employment in Middle-Income Countries?
利用墨西哥2010-2015年所有企业银行贷款数据，研究发现银行信贷供给冲击对中小企业正式就业有显著影响：正向冲击使年就业增长1.4个百分点，且对信贷受限企业作用更大。
This paper studies the effect of bank credit supply shocks on formal employment in Mexico using a proprietary dataset containing information on all loans extended to firms by commercial banks during 2010–2015. We find large impacts on the formal employment of small and medium firms: a positive credit shock of 1 standard deviation increases yearly employment by 1.4 percentage points. The shares of uncollateralized credit and credit received by family firms, younger firms, and firms with no previous bank relationships also increase, suggesting that credit shocks may play a more prominent role for employment creation in credit-constrained settings.