policy under different economic conditions. The results indicate that Islamic credit is less responsive than conventional … credit to interest rate shocks in both the high and low growth regimes. By contrast, the relative importance of Islamic … credit shocks in driving output growth is much greater in the low growth regime, their effects being positive. These findings …

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 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 …