Mr Kilian Huber

Mr Kilian Huber

PhD Candidate in Economics

Department of Economics

+44 (0)77 9952 1210
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About me

Research interests
Macroeconomics, Finance (primary)
Applied Microeconomics (secondary)

Job market paper
Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties
(Accepted for publication in the American Economic Review)

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Lending cuts by banks directly affect the firms borrowing from them, but also indirectly depress economic activity in the regions they operate in. This paper moves beyond firm-level studies by estimating the effects of an exogenous lending cut by a large German bank on firms and counties. I construct an instrument for regional exposure to the lending cut based on a historic, post-war breakup of the bank. I present evidence that the lending cut affected firms independently of their banking relationships, through lower aggregate demand and agglomeration spillovers in counties exposed to the lending cut. Output and employment remained persistently low even after bank lending had normalized. Innovation and productivity fell, consistent with the persistent effects.

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Publications and additional papers


Placement Officer
Professor Wouter Den Haan

Professor Ricardo Reis
Professor Alan Manning

Professor Ricardo Reis
Professor Alan Manning
Professor Henrik Kleven
Professor Philippe Aghion

Contact information

Phone number
+44 (0)77 9952 1210


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Office Address
Department of Economics,
London School of Economics and Political Science,
Houghton Street, London WC2A 2AE