fluctuations, in line with prominent roles played by the credit crunch and collapse of the asset-backed security market in the … riskiness of borrowers. By using loan approval probability as a screening device, banks ration credit following financial …

credit offered to firms, and requiring the intermediaries to raise further funds by paying the cost to issue equity. This … are characteristic of the credit crunches observed in the data. …

alternative means of payment such as credit cards. The main feature of the model is that cash circulates between economic … activities where the substitutability between cash and other means of payment is uneven. Our model predicts that, once credit … expands beyond a certain level, agents adjust their cash management practices in response to further credit expansions …

intermediate inputs matters for aggregate outcomes. This paper focuses on trade credit - the lending and borrowing of input goods … shows how trade credit alleviates financial frictions through a process of credit redistribution and creation, thus leading … credit lending, further tightening their customers’ borrowing constraint. The decline in economic activities following …

This paper examines the relationship between aggregate consumer spending and credit availability in the United States …. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability …. Moreover, she provides a formal assessment of the possibility that credit availability is particularly important for consumer …

the question of whether money affects growth. In addition, we find that credit conditions also play a role in that … relationship. In particular, there is an additional negative short-run impact of money on growth when credit is not readily …

. Their results suggest that banks propagate liquidity shocks by reducing credit only to a certain type of borrower …-crisis experienced a greater credit crunch than other public borrowers. -- Financial institutions …

This paper studies how the credit expansion policy pursued by the Chinese government in an effort to stimulate its …. Credit expansion is introduced in the form of the government's partial guarantee on bank loans to (i) general production … firms or (ii) infrastructure producers. We show that in the case of general credit expansion, more persistent credit shocks …

This paper examines the role of bank credit in modeling and forecasting business cycle fluctuations, and investigates … the international transmission of US credit shocks, using a global vector autoregressive (GVAR) framework and associated … country-specific error correction models. The paper constructs and compiles a dataset on bank credit for 33 advanced and …