BSE Affiliated Professor Victoria Vanasco (CREI, UPF and BSE) has won the 2019 Journal of Financial Intermediation "Best Paper Award" together with her co-author Matthew Botsch (Bowdoin College) for their paper, "Learning by Lending."

This paper studies bank learning through repeated interactions with borrowers from a new perspective. To understand learning by lending, the authors adapt a methodology from labor economics to analyze how loan contract terms evolve as banks acquire new information about borrowers.


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