-through) vary with trade credit. We put together a dataset that contains customs data and bank statements for the universe of … prices respond significantly less for products sold by exporters issuing more trade credit (more complete exchange rate pass … complementarity between trade credit and bank loans. We introduce an open economy model of monopolistic competition in international …

In this work we study the impact of FX interventions on Credit growth in Peru. Using Panel data at the firm-bank level … from the Peruvian Credit Registry we find that purchases of dollars by the Central Bank are associated with reductions on … the stock of credit held by Medium, Big and Corporate Firms in the Peruvian economy. We also found that the impact is …

loans. We find an asymmetric effect on the cost of credit: loan spreads decrease by approximately 5.9 basis points in … effect (working via firm's leverage) and, secondarily, a credit supply effect (working via bank market power and bank capital …

This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that … private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary … positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in …