Historical experience shows that disruptions in credit markets can have a material impact on activity and inflation …. However, it is hard to measure such effects owing to the difficulty in isolating credit supply shocks. This paper employs … survey data to identify the impact of credit supply shocks in Australia over the past three decades, using a structural …

procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have … new cross-country evidence on how they influence real private bank credit growth. Our results show that these instruments …