Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2010
unique Euro area bank lending surveys. Embedding this information within a standard VAR model, we find that: (1) the credit … monetary policy shock on GDP and inflation; (3) for business loans, the impact through the (supply) bank lending channel is …) during the crisis, credit supply restrictions to firms in the Euro area and tighter standards for mortgage loans in the US …