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Quantitative easing in the euro area and SMEs access to finance : who benefits the most?

Funk, Anne Kathrin - 2019

After the global financial crisis and during the European sovereign debt crisis, bank lending to companies in the euro area slowed down dramatically, bringing the economy close to a credit crunch. It was only after the start of the European Central Bank (ECB) quantitative easing programme in...

Persistent link: https://www.econbiz.de/10011970956

Quantitative easing in the euro area and SMEs' access to finance : who benefits the most?

Funk, Anne Kathrin - 2018

After the global financial crisis and during the European sovereign debt crisis, bank lending to companies in the euro area slowed down dramatically bringing the economy close to a credit crunch. It was only after the start of the ECB’s quantitative easing programme in early 2015 that bank...

Persistent link: https://www.econbiz.de/10011977350

The role of bank lending tightening on corporate bond issuance in the eurozone

Kaya, Orcun; Wang, Lulu - 2014

eurozone. By utilizing a unique data set provided by the ECB Bank Lending Survey, we capture the "pure" credit supply effect on … banks reporting considerable tightening on loans leads to around a 7% increase in firms' bond issuance in the eurozone … too. Furthermore, the impact of bank credit tightening on firms' bond issuance is particularly observable in core eurozone …

Persistent link: https://www.econbiz.de/10010349389

Interest rates, corporate lending and growth in the Euro area

Tondl, Gabriele - 2016

Persistent link: https://www.econbiz.de/10011498280

External financing and economic activity in the euro area : why are bank loans special?

Aldasoro, Iñaki; Unger, Robert - 2017

Using a Bayesian vector autoregression (BVAR) identified with a mix of sign and zero restrictions, we show that a restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes about even though flows of other sources of...

Persistent link: https://www.econbiz.de/10011632175

Bank loan supply shocks and alternative financing of non-financial corporations in the euro area

Mandler, Martin; Scharnagl, Michael - 2019

We analyse the macroeconomic effects of exogenous contractions in bank lending to non-financial corporations in the Euro Area, Germany, France, Italy and Spain using a Bayesian vector autoregressive model with endogenous hyperparameter selection and identification via sign restrictions. We focus...

Persistent link: https://www.econbiz.de/10012034573

External financing and economic activity in the euro area : why are bank loans special?

Aldasoro, Iñaki; Unger, Robert - 2017

Persistent link: https://www.econbiz.de/10011752673

Bank-lending standards, loan growth and the business cycle in the Euro area

Kaufmann, Sylvia; Scharler, Johann - 2013

We study the relationship between bank lending standards, loan growth and the business cycle in the euro area and the US within a vector error correciton model using Bayesian estimation methods. To deal with the short data series available for the euro area, we exploit information from the...

Persistent link: https://www.econbiz.de/10010197600

Small firms' credit access in the euro area : does gender matter?

Stefani, Maria Lucia; Vacca, Valerio - In: CESifo economic studies : CESifo, a joint initiative of … 61 (2015) 1, pp. 165-201

This article uses European Central Bank (ECB) survey data to assess whether gender matters in the small firms’ financial structure and access to credit. Firms owned or managed by women (female firms) use smaller amounts and less heterogeneous sources of external finance than their male...

Persistent link: https://www.econbiz.de/10011397650

Firm credit in the euro area : a tale of three crises

Holton, Sarah; Lawless, Martina; McCann, Fergal - In: Applied economics 46 (2014) 1/3, pp. 190-211

Persistent link: https://www.econbiz.de/10010355344

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