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Banking credit to the private sector in Latin America has on average increased by 7 percent of GDP from primo 2004 to … ultimo 2011, with real credit in some countries growing by up to 20 percent per year. This paper documents and analyzes the … patterns of credit growth in 18 countries in Latin America and uses econometric methods to determine whether it is indicative …
Persistent link: https://www.econbiz.de/10013080862
euro area Bank Lending Survey to assess the effectiveness of macro-prudential policies in containing credit growth and … slowing down mortgage credit growth, and that the impact is transmitted mainly through price margins, the same banking channel …
Persistent link: https://www.econbiz.de/10012996061
The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in bank funding costs and borrower leverage matter for firms'...
Persistent link: https://www.econbiz.de/10013053038
This paper explores the determinants of profitability across large euro area banks using a novel approach based on conditional profitability distributions. Real GDP growth and the NPL ratio are shown to be the most reliable determinants of bank profitability. However, the estimated conditional...
Persistent link: https://www.econbiz.de/10012843521
We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with Bayesian methods to compute government spending multipliers. The multipliers are contingent on the overall monetary policy stance, captured by a shadow monetary policy rate. In the...
Persistent link: https://www.econbiz.de/10012866218
Assessing the magnitude of the output gap is critical to achieving an optimal policy mix. Unfortunately, the gap is an unobservable variable, which, in practice, has been estimated in a variety of ways, depending on the preferences of the modeler. This model selection problem leads to a...
Persistent link: https://www.econbiz.de/10013211944
borrowers in distress, and find that a negative shock to bank credit supply reduces firms' loan growth, investment, capital …-to-labor ratio, and productivity. The transmission from changes in credit supply to firm productivity relates to labor market …
Persistent link: https://www.econbiz.de/10012956377
This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and … period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect … during periods of financial instability only, even after controlling for credit demand effects. These results show that …
Persistent link: https://www.econbiz.de/10013101520
distinguishes between credit to the household sector and to the corporate sector, we investigate the association between capital … inflows and credit growth. We find that non-FDI capital inflows boost credit growth and increase the likelihood of credit … booms in both household and corporate sectors. For household credit growth, the composition of capital inflows appears to be …
Persistent link: https://www.econbiz.de/10013015591
Countries in Central, Eastern, and Southeastern Europe (CESEE) experienced a credit boom-bust cycle in the last decade …. This paper analyzes the roles of demand and supply factors in explaining this credit cycle. Our analysis first focuses on a … large sample of bank-level data on credit growth for the entire CESEE region. We complement this analysis by five case …
Persistent link: https://www.econbiz.de/10013027589