quantify the macroeconomic effects of the credit deepening process observed in many Latin American (LA) countries in the last … decade, most notably in Brazil. In the model, a stylized banking sector intermediates credit from patient households to … impatient households and firms. The key novelty of the paper, motivated by the Brazilian experience, is to model the credit …

This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity—credit …--on average, they occur every five years. By comparison, banking crises take place every eight years on average. Credit reversals …

macroeconomic effects of the credit deepening process observed in Latin America in the last decade - most notably in Brazil. In the … model, a stylized banking sector intermediates credit from patient households to impatient households and entrepreneurs …. Motivated by the Brazilian experience, we allow the credit constraint faced by households to depend on labor income. Our model …

employ global public and private credit components of Herwartz, Ochsner, and Rohloff (2021) in factor-augmented vector …-autoregressions to trace credit shocks through the real economy (output, inflation and unemployment). Specifically, two components of … global credit boost the business cycle and lower unemployment in the short-run, namely government credit demand and business …

can cause a credit boom, which significantly increases its leverage. As is shown, the decisive role monetary policy plays …

provides natural instrumental variables and a proxy for credit demand. Unlike previous papers, this paper studies the effects …

The Kenyan credit market is characterised by imperfections that manifest themselves in imbalances in the form of credit … gaps where supply deviates from its long-run trend. This paper extends the analysis of the credit market adjustment process … that closes the credit gap by estimating a Seemingly Unrelated regression (SUR) model. The empirical results show that the …

credit demandand supply shocks at hand, we estimate the marginal effects of identified componentsof global liquidity on 43 … focus on the sectoralorigins (i.e. public vs. private) of credit demand/supply components, and rely on factoraugmented … vector-autoregressions to trace disaggregated credit shocks through the realeconomy (output, inflation and unemployment …