fully specifying a banking sector. The key analytic feature of the Post Keynesian approach is to replace the money market … generates an endogenous money supply driven by bank lending. If banks become more optimistic over the cycle and lower their …

arrangements can be welfare-reducing, because increased consumption by credit users will drive up the price level so that money …This paper studies the welfare effects of different credit arrangements and how these effects depend on the trading … mechanism and inflation. In a competitive market, a deviation from the Friedman rule is always sub-optimal. Moreover, credit …

The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt … overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to … non-financial private sector had been originated by shadow banks. Consequently, dampening credit creation by the …

first examine the impact of economic policy uncertainty on aggregate bank credit growth. Then we analyze commercial bank … macroeconomic controls, economic policy uncertainty affected bank level credit growth, and (ii) whether there is variation in the … on bank credit growth. Since this impact varies meaningfully with some bank characteristics - particularly the overall …

predictive power for real industrial activity above measures of aggregate demand and the money stock. These properties make it a … candidate as a monetary policy indicator. Furthermore, monetary policy shocks influence the aggregate credit stock and real …