-supply channel as an extension of the credit channel pioneered by Bernanke and Blinder (1988). -- Countercyclical bank markups …

explicit role for money-credit markets and investment decisions. We find that cost channels matter for monetary transmission … is specified by an interest rate policy rule and money-credit conditions are determined endogenously. We also find that … determinacy issues are particularly relevant when models include the cost channel and explicit money-credit markets. …

loans and defaults, we estimate models of demand for credit, loan use, pricing, and firm default. We find evidence of …