to bank loans, such as financing via equity, debt securities, trade credit and lending from non-banks. We investigate …-bank loans to be substitutes for bank loans with negative responses to a positive loan supply shock while trade credit is a …. Quantitatively, the developments in bank loans and trade credit dominate the response of the overall sum of the external financing …

The study aims to investigate the impact of credit growth on the Maastricht criteria targeting process in the new … to maintain credit growth levels close to economic growth potential. …

We investigate the role played by the credit supply shock across the business cycle in the U.S. over the period 1973 … credit supply shock triggers asymmetric and negative effects on macroeconomic variables. We find that the state …

to have a significant effect on economic activity and credit market variables, but to some extent also inflation, in all …

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 …

This paper aims to shed light on the characteristics and particularly the determinants of credit-less recoveries. After … building a dataset and documenting some stylised facts of credit-less recoveries in emerging market economies, this paper uses … panel probit models to analyse key determinants of credit-less recoveries. Our main findings are the following. First, our …

of sticky bank-firm relationships, estimate its structural parameters in euro area credit register data, and infer …