Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a … countercyclical movement in credit standards. Our analysis demonstrates that countercyclical fluctuations in credit standards work as … an amplifier of shocks to the economy. In particular, the existence of endogenous credit standards increases output …

month ahead expected credit standards for several non-financial private sector categories to risk of the macroeconomic … environment banks operate in to reflect whether credit standards react disproportionately to changes in the monetary policy stance … caused by disproportionately strong (weak) reactions in credit standards compared to the overall macroeconomic risk …

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 …