's current account dilemma is not in fact a dilemma, because the creation of additional US dollars requires dollar credit …

suitable for modelling country or regional linkages, is used to first assess the contribution of credit and asset price … could be related. Overall, the paper shows that the importance of credit and asset price variables in explaining real …

estimate a credit condition index (CCI). The credit conditions index represents changes in the supply of credit over time … financial futures, options, swaps, securitized loans and synthetic securities which allowed for easy access to credit for … financial intermediaries, (2) more sophisticated risk management, for example improved initial credit scoring, (3) changes in …

the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy … determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … directly lead to a reduction of real GDP growth, whereas shocks to the quantity of credit are slightly less important in …

We show that nonbanks (funds, shadow banks, fintech) reduce the effectiveness of tighter monetary policy on credit … since 1990s and Gertler-Karadi monetary policy shocks. Higher policy rates shift credit supply from banks to less …-regulated, more fragile nonbanks. The bank-to-nonbank shift largely neutralizes total credit and associated consumption effects for …

Brazil from 2000 to 2009, and to assess the distribution pattern of rural credit among the Brazilian states. The major … motivation is to investigate if the volume of available credit is proportional to states share of agricultural production and … harvest areas, and states share herd regarding livestock. The results suggest that rural credit still remains concentrated in …