Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a … countercyclical movement in credit standards. Our analysis demonstrates that countercyclical fluctuations in credit standards work as … an amplifier of shocks to the economy. In particular, the existence of endogenous credit standards increases output …

determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … explaining growth fluctuations. The credit spread and - to some extent - credit standards are also the key determinants of the …

determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … explaining growth fluctuations. The credit spread and - to some extent - credit standards are also the key determinants of the …

Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a … countercyclical movement in credit standards. Our analysis demonstrates that countercyclical fluctuations in credit standards work as … an amplifier of shocks to the economy. In particular, the existence of endogenous credit standards increases output …

determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … growth fluctuations. Credit standards and the credit spread are also the key determinants of the underlying state of the …

determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … explaining growth fluctuations. The credit spread and - to some extent - credit standards are also the key determinants of the …

determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … growth fluctuations. Credit standards and the credit spread are also the key determinants of the underlying state of the …