We use monthly data on individual loans from the Italian Credit Register over the period from 1997 to 2019 and show … that bank credit expansions in the non-financial private sector are mostly explained by variations in the extensive margin … calculated either in credit ows or headcount of new borrowers. We then build on a ow approach to decompose changes in the net …

This paper aims to shed light on the characteristics and particularly the determinants of credit-less recoveries. After … building a dataset and documenting some stylised facts of credit-less recoveries in emerging market economies, this paper uses … panel probit models to analyse key determinants of credit-less recoveries. Our main findings are the following. First, our …

of sticky bank-firm relationships, estimate its structural parameters in euro area credit register data, and infer …

This paper proposes a semi-structural approach to identifying excessive household credit developments. Using an … overlapping generations model, a normative trend level for the real household credit stock is derived that depends on four …-aged cohort, and institutional quality. Semi-structural household credit gaps are obtained as deviations of the real household …

We study the effects of credit over the business cycle, distinguishing between expansions and contractions. We find … that there is a growth and risk trade-off in the pace of credit growth over the business cycle. While rapid credit growth … tends to be followed by deeper recessions, we also find that credit growth has a positive impact on the duration of …

loan portfolios, allow for interbank trading and show how a credit bubble can develop from a financial innovation. We then …

bank-firm level credit data, we show that banks reallocate credit within their loan portfolio in at least three different … which they are more specialized. Third, they reallocate credit towards low-risk firms. These reallocation effects are … transmission of the funding shock to credit supply by 22, 8 and 10%, respectively. …