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In standard error correction models GDP and credit share a long-run cointegration relationship with causality running … from GDP to credit. The models are inconclusive about the question whether credit has also a positive impact on GDP. A … reason for the mixed effects is the dual nature of credit, having a potential for both supporting economic growth and …
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of firms partially offset reduced credit supply by resorting to alternative financing sources …
Persistent link: https://www.econbiz.de/10012839598
This paper estimates the exporter premium in bank lending. We examine credit relationships in Germany, covering all …
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Distinguishing pure supply effects from other determinants of price and quantity in the market for loans is a notoriously difficult problem. Using German data, we employ Bayesian vector autoregressive models with sign restrictions on the impulse response functions in order to enquire the role of...
Persistent link: https://www.econbiz.de/10003959900
Distinguishing pure supply effects from other determinants of price and quantity in the market for loans is a notoriously difficult problem. Using German data, we employ Bayesian vector autoregressive models with sign restrictions on the impulse response functions in order to enquire the role of...
Persistent link: https://www.econbiz.de/10012991095
The purpose of this paper is to investigate whether a credit crunch occurred in Germany during the recent financial … crisis and to analyze the underlying factors. In order to disentangle credit supply and demand we specify a theory …-based dynamic disequilibrium model of the German credit market. To estimate this model we use a new approach based on Bayesian …
Persistent link: https://www.econbiz.de/10009580067