We outline the case for credit frictions and a demand side aspect to labor market fluctuations. To illustrate the above … a costly state verification problem in the credit market in the presence of price rigidities. Credit market …

evidence of increased credit constraints and are consistent with theories that argue that foreign bank presence exacerbates …

We outline the case for credit frictions and a demand side aspect to labor market fluctuations. To illustrate the above … a costly state verification problem in the credit market in the presence of price rigidities. Credit market …

sterilise its bond purchases - compensating those purchases through sales of other bonds or money market instruments to keep the … overall money supply unaffected. This is to counter accusations that the ECB is monetizing government debt. This note …

private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led …

evidence of increased credit constraints and are consistent with theories that argue that foreign bank presence exacerbates …

to the value of the stock of housing. The analysis focuses on the implications of housing and credit market …-wide inflation to fluctuate more in response to productivity shocks than in an economy without credit constrained borrowers. In … addition we find that housing and credit market heterogeneities have an impact on the central bank's goal to stabilize …

penalty arises from a breakdown of interbank intermediation that induces a credit crunch. Government borrowing under limited …