to have a significant effect on economic activity and credit market variables, but to some extent also inflation, in all …

of sticky bank-firm relationships, estimate its structural parameters in euro area credit register data, and infer …

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 …

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 …

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 …

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 …

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 …

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 …