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 …

This paper presents a full model of the Credit Channel of the monetary transmission mechanism. In particular, the …

Current empirical methods to identify and assess the impact of bank credit supply shocks rely strictly on multi … economy and most prone to credit supply shocks. We propose and underpin an alternative demand control (using industry …-location-size-time fixed effects) that allows identifying timevarying cross-sectional bank credit supply shocks using both single- and multi …

The market for corporate credit is characterized by significant seasonal variation, both in interest rates and the …