This paper deals with stress tests for credit risk and shows how exploiting the discretion when setting up and … extensive robustness checks for model-based credit risk stress tests. …

-trigger hypothesis of mortgage defaults. In order to analyse the possible credit losses stemming from residential mortgage lending we …

This paper shows that firm credit constraints impair climate policy. Empirically, firms with tighter credit constraints … incorporate this channel into a quantitative DSGE model with endogenous credit constraints and carbon taxes. Credit frictions … endogenous credit constraints than in an economy without such frictions. …

credit growth and the severity of the financial crisis, we find that countries with stronger FSCs are more likely to use the …

, we analyze banks, exploiting ECB's asset-quality-review (AQR) and supervisory security and credit registers. After AQR … announcement, reviewed banks reduce riskier securities and credit (also overall securities and credit supply), with largest impact … on riskiest securities (not on riskiest credit), and immediate negative spillovers on asset prices and firm-level credit …