addition a conventional US monetary easing leads to a significant narrowing of the credit spreads on dollar …-denominated sovereign bonds that are issued by countries with a speculative-grade sovereign credit rating. However, during the …

This paper presents empirical evidence on the effect of banks' financial position on credit growth using a sample of 29 … most important predictor of credit growth in the current year. The relationship between capital and credit growth is non … (decrease) in capital is associated with an increase (decrease) of 0.8 (0.3) percentage points in credit growth upon impact and …

We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that … potentially drive bank and nonbank credit growth. We find that sectoral shocks affecting the balance sheets of entrepreneurs who … borrow from the financial sector are important for the business cycle frequency fluctuations in bank and nonbank credit …