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data from the Credit Register at the Bank of Italy for the period 2007-2009, we find that women-owned firms faced a more …During the financial crisis banks faced liquidity shocks, and lending slowed down. The reduction in credit availability … needs; on the other hand, the tightening of credit supply was the result of banks� greater risk-aversion, difficulties in …
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In this paper we present an overview of theoretical and empirical contributions exploring the inter-linkages between financial factors and real economic activity. We first revisit the main theoretical approaches that allow financial frictions to be embedded into general equilibrium models, and...
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of data on banks’ balance sheets, central banks and money market funds; on interest rates on deposits and loans; on non-bank …
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We model the determinants of loans to non-financial corporations in the euro area. Using the Johansen (1992 … Vector Error Correction Model (VECM). We perform a number of specification tests, which suggest that developments in loans to … analyse the impact of permanent and temporary shocks to the policy rate on bank lending to non-financial corporations. …
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