documents a growing role of non-bank financial intermediaries in the provision of credit to NFCs. After exploring supply and … reallocation of credit to other sectors or assets. This could generate greater systemic risk through unsustainable valuations or …

This paper investigates whether output and inflation respond asymmetrically to credit shocks in the euro area. The … effects related to credit conditions in the economy. Consistent with this finding, the impulse responses show some signs of …

discusses the importance of credit developments for both the economy and the functioning of monetary policy, and further … survey for the euro area lies in particular in the way it provides greater insight into developments in credit standards, non …-interest rate credit conditions and terms, the risk perception of banks and the willingness of banks to lend. Credit standards are …

predictions that have been proposed for the U.S. are deemed unlikely to apply in Europe. Testing these hypotheses we find that … für die USA diesbezüglich vermuteten Gegebenheiten gelten wahrscheinlich nicht für Europa. Die ökonometrische Analyse …

to test the distributional implications of potential credit market frictions. The results suggest that there is no …