Deryugina, Elena; Kovalenko, Olga; Pantina, Irina; … - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2015
This article presents three alternative models for decomposing loan developments into components associated with changes in loan demand and supply fundamentals. Two models are based on macro data (error correction model and structural vector autoregression with sign restrictions) and one is...