This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … characteristics. This allows us to study simultaneously the role that bank and firm weakness had in the credit reduction observed in … the euro area during the sovereign debt crisis, and in credit developments characterising the post-crisis recovery …

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 …

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 …

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

Do borrowers demand less credit from banks with weak balance sheet positions? To answer this question we use novel bank … conventional monetary policy shock, bank balance sheet strength influences not only credit supply but also credit demand. The … resilience of lenders plays an important role for firms when selecting whom to borrow from. We also assess the impact on credit …

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and … leading indicator for euro area bank credit and real GDP growth. Notwithstanding the short history of the survey, the findings … also suggest that price as well as non-price conditions and terms of credit standards do matter for credit and business …

evolution of bank credit. We use a unique loanlevel dataset comprising multiple credit registers from several European countries … and different types of loans, including corporate loans, mortgages and consumer credit. We merge this rich information …) productive firms than firms with high ex ante credit risk, except for banks with low capital. …