credit market for the period 2010-13. Second, we provide a description of the relationship between credit difficulties and … correlation between credit difficulties and adjustments along both the extensive and the intensive margin. In the presence of … credit market difficulties, firms cut wages by reducing the variable part of wages. This evidence suggests that credit shocks …

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

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 …

credit market for the period 2010-13. Second, we provide a description of the relationship between credit difficulties and … correlation between credit difficulties and adjustments along both the extensive and the intensive margin. In the presence of … credit market difficulties, firms cut wages by reducing the variable part of wages. This evidence suggests that credit shocks …

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 …

loan portfolios, allow for interbank trading and show how a credit bubble can develop from a financial innovation. We then …

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

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 …