Big Banks, Household Credit Access, and Intergenerational Economic Mobility
研究发现美国银行业整合导致银行规模变大，低收入家庭在本地银行规模大时信贷获取减少，这源于大银行在软信息上的劣势，进而加剧了教育成就对父母收入的敏感性，降低了代际经济流动性。
Abstract Consolidation in the U.S. banking industry has led to larger banks. I find that low-income households face reduced access to credit when local banks are large. This result appears to stem from large banks’ comparative disadvantage using soft information, which is particularly important for lending to low-income households. In contrast, the size of local banks has little or no effect on high-income households. Consistent with low-income parents’ credit constraints limiting investment in their children’s human capital, areas with larger banks exhibit a greater sensitivity of educational attainment to parental income, and less intergenerational economic mobility.