id author title date pages extension mime words sentence flesch summary cache txt mp48sb41q51 Dasha Safonova Topics in Monetary Economics 1904 .txt text/plain 422 17 44 I then study the implications of these mechanisms in a dynamic setting and relate these developments to central bank policies. I show that the aggregate loan rate increases in response to a shock that destroys a large fraction of bank relationships and decreases in response to a shock that destroys a small fraction of bank relationships. cache/mp48sb41q51.txt txt/mp48sb41q51.txt