This paper contributes to the literature on the properties of money and credit indicators for detecting asset price … several macroeconomic monetary, financial and real variables. According to statistical tests, credit aggregates (either in … models ; monetary aggregates ; credit aggregates …

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 …

euro area as a whole and in its five largest countries. In a Bayesian VAR framework, the two credit supply shocks are … for business cycles. For the euro area, the explanatory power of the two credit supply shocks for GDP growth variations is …

may vary across lenders. We find strong evidence that credit tightened in the relatively early stages of the crises caused … domestic banks. The observed decline in credit is greater among high-risk firms and firms with fewer tangible assets. …

smooth transmission of credit to borrowers. While results from the years prior to the crisis often cast doubts on the … provision of credit. We show that new factors, such as changes in banks’ business models and market funding patterns, had …

suitability of various indicators as well as the relative performance of financial versus real, global versus domestic and money … versus credit based liquidity indicators. We find that global measures of liquidity are among the best performing indicators …

may vary across lenders. We find strong evidence that credit tightened in the relatively early stages of the crises caused … domestic banks. The observed decline in credit is greater among high-risk firms and firms with fewer tangible assets. - Credit …