question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …

cycle comovement increases when credit embodies public bonds held by banks, a bank financing to the public sector. However …We propose a joint dating of the Italian business and credit cycle on a historical horizon, by applying a local turning … carry out some statistical tests for comovement between credit and business cycle and we propose a measure of asymmetry of …

How does uncertainty affect the costs of raising finance in the bond market and via bank loans? Empirically, this paper … finds that heightened uncertainty is accompanied by an increase in corporate bond yields and a decrease in bank lending … for banks. To reduce uncertainty, banks acquire additional costly information about borrowers. More information increases …

In U.S. data 1981-2012, unsecured firm credit moves procyclically and tends to lead GDP, while secured firm credit is … acyclical; similarly, shocks to unsecured firm credit explain a far larger fraction of output fluctuations than shocks to … secured credit. In this paper we develop a tractable dynamic general equilibrium model in which unsecured firm credit arises …

This paper uses data from a panel of more than 400 Italian banks for the period 2001 - 2012 to examine the main …, signalling) or non-discretionary (related to the business cycle). The results suggest that LLP in Italian banks is driven mainly … local banks: since their loans are more collateralised, their behaviour is more strongly affected by supervisory activity …

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 …

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

adopted banking reforms allowing entry of foreign banks and more domestic participation in the syndicated loan market. As a …