Showing 1 - 10 of 980
to have a significant effect on economic activity and credit market variables, but to some extent also inflation, in all …
Persistent link: https://www.econbiz.de/10013101121
of sticky bank-firm relationships, estimate its structural parameters in euro area credit register data, and infer …
Persistent link: https://www.econbiz.de/10013300219
This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and … leading indicator for euro area bank credit and real GDP growth. Notwithstanding the short history of the survey, the findings … also suggest that price as well as non-price conditions and terms of credit standards do matter for credit and business …
Persistent link: https://www.econbiz.de/10013316257
This paper presents evidence that personal relationships between corporate borrowers and bank loan officers improve the outcomes of loan renegotiation. Analysing a bank reorganization in Greece in the mid-2010s, I find that firms that experience an exogenous interruption in their loan officer...
Persistent link: https://www.econbiz.de/10013227323
to activate macroprudential tools targeting excessive credit growth and leverage. To robustly select the key indicators … using credit to GDP gaps, credit to GDP ratios and credit growth rates, as well as real estate variables in addition to a …
Persistent link: https://www.econbiz.de/10013049466
range of financial variables, including interest rates and interbank spreads, bond returns, and credit and equity flows. We … policy. The model suggests that monetary policy, credit and financial conditions have played an important role in shaping … China's business cycle. Using conditional scenarios, we examine the role of credit in shaping economic outcomes in China …
Persistent link: https://www.econbiz.de/10012892473
euro area as a whole and in its five largest countries. In a Bayesian VAR framework, the two credit supply shocks are … for business cycles. For the euro area, the explanatory power of the two credit supply shocks for GDP growth variations is …
Persistent link: https://www.econbiz.de/10013405076
This paper proposes a tractable way to incorporate lending standards ("credit qualification thresholds") into macro … rate sufficiently compensates banks for the borrowers’ default risk. Firms denied credit cut employment and labor … credit supply disruptions. That is, for the same increase in credit spreads, output falls faster when denial rates are …
Persistent link: https://www.econbiz.de/10013315376
income, portfolios of assets and debt held at the end of the previous period, credit availability, and asset prices and … equations. Major evolutionary structural change – namely the evolving credit architecture facing households – is handled by our … offer new ways of interpreting data on credit, money and asset prices, which are crucial for central banks …
Persistent link: https://www.econbiz.de/10013035231
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10013316211