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 …

imbalances expressed themselves, synthetically, through high variations of some specific indicators: inflation rate, bank loans …

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic … monetary growth model with an explicit credit service sector to explain the observed magnitude. Since credit services are … assumed costly to produce, the consumers equate the opportunity cost of holding money with the marginal cost of credit …