financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

economy. A positive credit shock, defined as a rise in the loan-to-deposit ratio, increases output, consumption, hours and … productivity, and reduces the spread between loan and deposit rates. The effects of the credit shock tend to be highly persistent …This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and …

and the level of uncertainty in the economy. A positive credit shock, defined as a rise in the loan-to-deposit ratio … effects of the credit shock tend to be highly persistent, even without price rigidities and habit persistence in consumption …This paper proposes a new theoretical framework for the analysis of the relationship between credit shocks, firm …

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

A variety of empirical and theoretical evidence published in recent years suggests that frictions in credit markets are … of the credit view interpretation of this evidence. Special attention is paid to the role of borrowers' net worth. A … shock generates an increase in output and in employment. Second, ex ante heterogeneity of borrowers has a significant …

This paper presents a full model of the Credit Channel of the monetary transmission mechanism. In particular, the … without heterogeneous borrowers. Second, the model dampens the impulse response of output after a positive money supply shock …