01758cas a2200253 a 4500 AALejournalIMF008440 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855005 1018-5941 BD-DhAAL BD-DhAAL Kim, Yungsan. Trade Credit and the Effect of Macro-Financial Shocks : Evidence From U.S. Panel Data / Yungsan Kim, Woon Choi. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Many studies examine why firms are financed by their suppliers, but few empirical studies look at the macroeconomic implications of such financial arrangements. Using disaggregated panel data, we examine how firms extend and use trade credit. We find that, controlling for the transactions or asset management motive, both accounts payable and receivable increase with tighter policy, implying that trade credit helps firms absorb the effect of a credit contraction. A comparison of S and P 500 firms with smaller firms, however, provides no evidence that when policy is tightened, large firms play the role of credit suppliers more actively than small firms. Mode of access: Internet Choi, Woon. IMF Working Papers; Working Paper ; No. 2003/127 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/127/001.2003.issue-127-en.xml IMF e-Library