Data and Code for: Production and Financial Networks in Interplay

We show that bank credit shocks to firms propagate along the productionnetwork, with stronger upstream than downstream effects.Our identification relies on: (i) administrative datasets from Spaincovering supplier-customer transactions and bank loans; (ii) bankcredit supply shocks from the Global Financial Crisis; and (iii) ageneral equilibrium model of a production network with financialfrictions, estimated structurally. We find that network propagationamplifies the impact of bank shocks on GDP growth by nearly50%. Moreover, bank shocks to firms’ distant suppliers and customerscontribute similarly to this aggregate effect as bank shocksto firms’ direct customers and suppliers.