mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have … indeed been succesful in stimulating the credit flow of banks to the private sector. Second, we find support for the "bank … responded more to the credit support policies of the Eurosystem as a result of more favourable size, retail and liquidity …

conditions, credit default and bank capitalization for the transmission of macroeconomic shocks. We fit the model to euro area … credit spreads to monetary policy shocks. …

transmission to output and investment, amplify the credit cycle, and flatten the Phillips curve. …

policy is transmitted via the portfolio rebalancing, the signalling, credit easing and exchange rate channels. Spanish real …

the importance of the interest rate and credit channels on business fixed investment in Germany. We have at our disposal … measure of creditworthiness, we find that credit constraints are important for a subset of firms. Sortings by firm size or …

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking …. Evidence in support of the credit channel can be reported. …