This paper updates the standard workhorse model of banks' reserve management to include frictions inherent to money …

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 …

pressure, and excessive credit growth by allocating income to agents featuring low marginal propensity to consume, and if …

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 …

mattered for aggregate demand. (ii) The base might serve as a useful indicator of the likely future course of the money stock … money stock, and the economy. Such stimulative actions implied increases in the monetary base; however, Meltzer did …

consumer credit card issuers' ability to raise interest rates. We estimate the competitive responsiveness-the degree to which a … credit card issuer changes offered interest rates in response to changes in interest rates offered by its competitors-as a … measure of competition in the credit card market. Using small business card offers, which are not subject to the Act, as a …

merits of the "money view" and "credit view" as accounts of macroeconomic outcomes. Our own analysis of the postwar evidence … suggests that money outperforms credit in predicting economic downturns in the 14 countries in Schularick and Taylor's dataset … incorrectly take the money view's proponents as relying on the notion that monetary aggregates are a good proxy for credit …

credit supply. Liquidity requirements also depress banks' profitability, though some of the regulatory costs are passed on to …