We identify the origin of the contradicting perspectives on credit creation offered by Austrian, Mainstream and Post …-exist any transaction and loan. We develop a unified framework of credit creation based on three leading variables: (i) the … amount of collateral assets accepted, (ii) the level of leverage and (iii) the level of trust and confidence. As credit …

We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that … potentially drive bank and nonbank credit growth. We find that sectoral shocks affecting the balance sheets of entrepreneurs who … borrow from the financial sector are important for the business cycle frequency fluctuations in bank and nonbank credit …

pressure, and excessive credit growth by allocating income to agents featuring low marginal propensity to consume, and if …

We investigate the cyclical properties of non-bank credit and its relevance for financial stability. We construct a … measure of non-bank credit for a large sample of countries and find that its cyclical properties differ from those of bank … credit. Non-bank credit cycles are highly correlated with bank credit cycles in some countries but not in others. Moreover …

bank- rm level credit data, we show that banks reallocate credit within their domestic loan portfolio in at least three … in which they are heavily specialized. Third, they reallocate credit towards low-risk fi rms. These reallocation effects … the transmission of the funding shock to credit supply by 22, 8 and 10%,respectively …

countries experiencing systemic banking crises on profitability, credit, and the performance of borrower firms. Crisis exposures … reduce bank returns and tighten credit conditions for borrowers, constraining investment and growth. The effects are larger …

credit market and in funding markets. The reduction in the supply of credit by Eurozone banks caused riskier borrowers to …. Although global bank lending is often reported to amplify the international credit cycle, we show that foreign banking acted as … a shock absorber that weathered the real consequences of the credit crunch in Europe …

This paper presents empirical evidence on the effect of banks' financial position on credit growth using a sample of 29 … most important predictor of credit growth in the current year. The relationship between capital and credit growth is non … (decrease) in capital is associated with an increase (decrease) of 0.8 (0.3) percentage points in credit growth upon impact and …