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. …

the period 2003Q1–2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy … determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … directly lead to a reduction of real GDP growth, whereas shocks to the quantity of credit are less important in explaining …

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 …

several credit aggregates granted from bank and non-bank institutions for different scopes and developments in the US economy …. Our analysis is based on the estimation of a large Bayesian VAR. The results suggest that the rise of non-bank lenders has …

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 …

-deposit model. Counterfactuals emphasize the importance of non-interest income for credit supply, financial stability, and deposit …