A variety of empirical and theoretical evidence published in recent years suggests that frictions in credit markets are … of the credit view interpretation of this evidence. Special attention is paid to the role of borrowers' net worth. A … and borrower is embedded in a stochastic dynamic general equilibrium model with money. The model incorporates a cash …

This paper presents a full model of the Credit Channel of the monetary transmission mechanism. In particular, the … general equilibrium model with money. In contrast to the traditional assumption, the paper assumes that agency costs arise in … without heterogeneous borrowers. Second, the model dampens the impulse response of output after a positive money supply shock …

What explains the post-crisis slowdown in bank credit to private sector in the South-East European economies? We try to … answer this question, by comparing the actual credit growth to the fundamental and equilibrium growths. The fundamental … economy being in medium-term equilibrium. Results suggest that the slowdown reflects both return of the credit activity to its …

persons based on a core set of harmonised concepts and definitions. Starting with reference data from September 2018, credit …) individual credit exposures falling within the reporting scope. The reporting framework is the outcome of in-depth discussions … Regulation, AnaCredit will, already in Stage 1, significantly enhance the value for analysis on credit and credit risk in the …

and therefore the firm’s ability to borrow, in the presence of credit market imperfections. How the business cycle is … the topic of this paper. We find that the fluctuations in the supply of credit that result from this may significantly … Cycles ; Credit Market Imperfections ; Loan Supply …

The Kenyan credit market is characterised by imperfections that manifest themselves in imbalances in the form of credit … gaps where supply deviates from its long-run trend. This paper extends the analysis of the credit market adjustment process … that closes the credit gap by estimating a Seemingly Unrelated regression (SUR) model. The empirical results show that the …

persons based on a core set of harmonised concepts and definitions. Starting with reference data from September 2018, credit …) individual credit exposures falling within the reporting scope. The reporting framework is the outcome of in-depth discussions … Regulation, AnaCredit will, already in Stage 1, significantly enhance the value for analysis on credit and credit risk in the …

Do different types of household credit affect income growth and income inequality differently? This empirical paper …. We find that the different types of household credit matter, and our contributions are twofold. First, on income growth …, both macro- and micro-analyses consistently find housing credit to be positively associated with future income growth …

employ global public and private credit components of Herwartz, Ochsner, and Rohloff (2021) in factor-augmented vector …-autoregressions to trace credit shocks through the real economy (output, inflation and unemployment). Specifically, two components of … global credit boost the business cycle and lower unemployment in the short-run, namely government credit demand and business …