estimation of a large VAR through Bayesian techniques. Loans to households emerge as the most important driver of economic …

innovation. By incorporating a loan management technology and a bank equity channel we can evaluate the efficacy of several … financial bubble significantly while central bank intervention (“leaning against the wind”) proves to be less effective. A …

We explore the intertwined dynamics of asset prices and the macroeconomy in a Behavioural model of Credit Cycles (BCC …) characterized by a credit friction à la Kiyotaki and Moore and heterogeneous expectations cum heuristic switching à la Brock and …

with a higher probability of granting loans to risky borrowers and a greater riskiness of credit allocation, but these …

bank and a crowdlending platform and show that the entry of crowdlending can induce a switching effect as well as a credit … reduced the small business loans originated by banks, in particular, in the low- or moderate-income tracts as well as in the …

The amount of credit in the economy is a heterogeneous aggregate that can be analyzed across different dimensions …. Considering such dimensions provides insights into the effect of monetary policy interventions because the credit components are …

administrative credit panel data, we show that the payment pause led to a sharp drop in student loan payments and delinquencies for … borrowers subject to the debt moratorium, as well as an increase in credit scores. We find a large stimulus effect, as borrowers … to increase borrowing on credit cards, mortgages, and auto loans rather than avoid delinquencies. The effects are …