This paper evaluates the performance of a variety of structural VAR models in estimating the impact of credit supply … instruments is effective in recovering the underlying shock. In contrast, identification based on recursive schemes and …, on average, that credit supply shocks that raise spreads by 10 basis points reduce GDP growth and inflation by 1% after …

This paper evaluates whether fiscal and foreign exchange policy shocks can explain both credit and credit supply in … Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit growth is linked to the buildup of banks …' deposits caused by the monetary effects of fiscal expansions. For these cases, since credit is provided at equal or reduced …

This paper explores the impact of international financial integration on credit markets in Latin America, using a cross … international financial shocks on aggregate credit and interest rate fluctuations. Nonetheless, the net impact of integration on … deepening credit markets dominates for the large majority of states of nature. The paper also uses a detailed bank-level dataset …

instrumental variable procedure to estimate the impact of the credit shock performs well and is relatively robust to measurement …, VARs of the narrative variety, i.e. VAR models that include measures of the credit shock as endogenous variables are highly … suggests, however, that the credit supply shock is hard to identify in practice. …

Research subject of this paper is the credit transmission mechanism in the Republic of Macedonia or in other words this …. The credit transmission is analyzed through its narrow nature or so called bank lending channel. In order to explain how … first one is the traditional bank lending channel explained by Bernanke and Blinder model and the second one is the credit …

This paper extends the Bayesian proxy SVAR model (BP-SVAR) of Caldara and Herbst (2019) to examine changes in the … algorithm to approximate the posterior distribution of model parameters. The model is then used to examine the role of credit … using a proxy constructed from high-frequency financial data. The main finding is that the effect of credit spreads differs …

-robust approach is proposed to construct estimation and inference. Thirdly, this paper suggests a procedure to derive theory … the FEVD tend to remove unreasonable implications, increase estimation precision, sharpen and also alter the inference of …