rate and credit channels on business fixed investment in the German manufacturing sector. Our panel of financial statements …

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking … impulse responses with the empirical impulse responses to a monetary policy shock. Evidence in support of the credit channel …

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 …

In this paper, the empirical relevance of the credit channel for the explanation of monetary policy transmission in … Germany during the period of monetary targeting from 1975 to 1998 is analyzed. While existing studies of the credit channel … empirical evidence for the effectiveness and relevance of a credit channel in Germany can be reported. -- vectorautoregressive …

the importance of the interest rate and credit channels on business fixed investment in Germany. We have at our disposal … measure of creditworthiness, we find that credit constraints are important for a subset of firms. Sortings by firm size or …

This paper investigates the credit channel in Germany and the United Kingdom. The financial systems of these two … competition among credit intermediaries, resulting in a declining dependence on banks in Germany. …

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking …. Evidence in support of the credit channel can be reported. …

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking … support of the credit channel can be reported …