In this paper, we use Structural VAR analysis to disentangle credit demand and supply shocks and their eFFect on real … economic activity in Italy during the 2008-2014 crisis period. The three endogenous variables considered are the loan interest … rate, the loans growth rate and the employment to population ratio. The data are observed at annual frequency for each of …

We investigate how financial contracting interacts with lending channel effects by tracing the anatomy of a credit …-lending revenues, and those that pledge collateral, especially outside assets and real estate, experience less credit rationing …

This paper proposes a semi-structural approach to identifying excessive household credit developments. Using an … overlapping generations model, a normative trend level for the real household credit stock is derived that depends on four …-aged cohort, and institutional quality. Semi-structural household credit gaps are obtained as deviations of the real household …