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 …

contrast to recent findings for the US, we find that in the euro area changes in the supply of credit, both in terms of volumes … and in terms of credit standards applied on loans to enterprises, have significant effects on real economic activity. This … highlights the importance of the monitoring of credit developments in the toolkit of monetary policy and underpins the reasoning …

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 …

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. …

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 …