The transmission of monetary policy to credit aggregates and the real economy can be impaired by weaknesses in the contracting environment, shallow financial markets, and a concentrated banking system. We empirically assess the bank lending channel in Uganda during 2010-2014 using a supervisory...

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...

Credit supply and demand changes are mostly unobserved, thus identifying completely the transmission of monetary policy through the credit channel is unfeasible. Bank lending surveys by central banks, however, contain reliable quarterly information on changes in loan conditions due to bank, firm...

The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable country heterogeneity. Using detailed data on lending conditions and standards, we analyse how financial fragility has affected the transmission mechanism of the single Euro...

The consumer price index stood at 0.6% in October 2013 (against 0.5% in October 2012), having shown a 0.4 p.p. increase as compared to September 2013. Therefore inflation increased more than 6.3% on a year-over-year basis at the end of the 10-month period. In the first 18 days of November 2013...

In September 2013, the Consumer Price Index (CPI) amounted to 0.2% (against 0.6% in September 2012), which is by 0.1 pp. higher than its value recorded in August 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 9 months of 2013, increased above 6.1%. Over...

In August 2013, the Consumer Price Index (CPI) amounted to 0.1% (same as its level in August 2012), which is by 0.7 pp. lower than its value recorded in July 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 8 months of 2013, increased above 6.5%. Over the...