ways. First, I apply a micro-founded strategy for disentangling demand from supply shifts in credit. Using this … period. The sensitivity of credit supply to monetary shocks is not related to the bank characteristics generally used in the …

explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit …

This study attempts to distinguish, in the impact on credit in France, between the effects of stock market shocks … positive credit gap but it was not entirely offset in 2004 …

-term interest rates, total investment, real credit and real stock prices tend to increase the probability of a costly housing …, credit variables tend to play a less convincing role. From this perspective, we specify the scope of macro …

evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with … poor credit markets. Second I present a model in which the presence or the absence of foreign lenders endogenously modifies … firms credit constraints and hence the volume of credit extended in the economy. Specifically, I show on the one hand that …

In this paper, we identify two counteracting effects of credit access on productivity growth: on the one hand, better … access to credit makes it easier for entrepreneurs to innovate; on the other hand, better credit access allows less efficient … first develop a simple model of firm dynamics and innovation-based growth with credit constraints, where the above two …

question standard RBC models in which a positive technology shock leads to a rise in hours. In this paper, we estimate and test …