regime dependent two-pillar Phillips curve for the euro area, in which lagged credit growth determines the transition …

measures that aim to avoid credit overexpansion are two policies that can improve the links of private debt with labour income …

leverage on GDP, credit and the interest rate spread. Increasing capital requirements for banks should therefore have no strong …

total credit share in the GDP. Previous empirical studies show to be sensitive to the choice of the finance proxy indicator …. Total credit share in the GDP appears biased in empirical modeling. Credit structure (loans to firms and households) prove … to be more robust when used in the modeling. Credit structure reveals a different impact on economic growth showing …