policy period, change in banks’ competitive behaviour affected the bank lending channel and discouraged banks from taking …

credit market for the period 2010-13. Second, we provide a description of the relationship between credit difficulties and … correlation between credit difficulties and adjustments along both the extensive and the intensive margin. In the presence of … credit market difficulties, firms cut wages by reducing the variable part of wages. This evidence suggests that credit shocks …

The paper inspects the credit impact of policy instruments that are commonly applied to contain systemic risk. It …, borrower-based measures, caps on long-term maturity and exchange rate mismatch, and asset-based capital requirements on credit …

change in NPL ratios tends to depress bank lending volumes, widens bank lending spreads and leads to a fall in real GDP …

To what extent does the availability of credit depend on monetary policy? And, does this relationship vary with bank …-2011, we uncover three main regularities. First, the effect of monetary policy on bank lending is significant and heterogeneous …

ratio since the crisis reflects bottlenecks in the provision of bank credit and (2) the tightened loan supply has been more …

euro area as a whole and in its five largest countries. In a Bayesian VAR framework, the two credit supply shocks are … for business cycles. For the euro area, the explanatory power of the two credit supply shocks for GDP growth variations is … supply shocks exceeds that of loan supply shocks. Since MBF is mostly provided by non-bank financial intermediaries, the …

We show that negative policy rates affect the supply of bank credit in a novel way. Banks are reluctant to pass on … low-deposit banks. As a consequence, the introduction of negative policy rates by the European Central Bank in mid-2014 …

between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping … and Italy to explore the relation between bank credit and productivity following the main derivations of the model. We … estimate an extended set of elasticities of bank credit with respect to a series of productivity measures of firms. We focus …

We study how the consequences of violations of covenants associated with bank lines of credit to firms vary with the … financial health of lenders. Following a violation banks restrict usage of lines of credit by raising spreads, shortening … during the recent crisis. Banks in worse financial health are more likely to restrict access to credit lines following a …