payment risk on bank lending, bridging the literatures on payment systems and credit supply. An interquartile increase in … times of funding stress and robust across banks of different sizes and loans of long and short maturities. Banks with higher …

effectiveness of macroprudential policy in reducing credit growth over a 22-year period across 129 countries. Additionally, we … credit growth within a quarter of implementation, though this is not evident in the case of soft peg exchange rate regimes …

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …

The bank lending channel theory posits that during monetary contractions banks restrict some firms' loans, thus … firms accelerate, loan growth. We find that small firms increase trade credit, a substitute credit, indicating a strong loan … demand. It supports the bank lending channel: they do not voluntarily cut bank loans since they increase a less …

Empirical estimations of the drivers for loan extension mainly apply the outstanding stock of bank credit as the … results, as the change of the stock is not only driven by extended loans, but also by repayments, write-downs, revaluations … and securitisation activity. This paper specifically applies a variable of new credit extensions for eight Euro area …

Empirical research on the monetary transmission mechanism considering credit developments is almost exclusively limited … to the amount of outstanding credit in an economy. Two issues arise out of this. First, stock-flow inconsistencies might … occur. Second, the change of the outstanding amount of credit on banks ́balance sheets does not consist only of new lending …

A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to … small banks are excluded. Overall, the evidence is compatible with the existence of a credit channel, although it is …