We examine whether macroeconomic factors contain significant information for bank loan contracting terms and conditions (T&Cs), over and above that of standard firm-specific or country-level institutional factors. Our estimation is based on a seemingly unrelated mixed processes methodology that...

We employ quarterly credit standards data from the Bank Lending Survey, covering 14 EU countries for the period 2003Q1-2016Q1. By linking consecutive surveys and utilizing loan officers' responses regarding actual and expected credit standards, we set out to investigate which expectations...