rate and credit channels on business fixed investment in the German manufacturing sector. Our panel of financial statements …

Empirical research on the monetary transmission mechanism considering credit developments is almost exclusively limited … to the amount of outstanding credit in an economy. Two issues arise out of this. First, stock-flow inconsistencies might … occur. Second, the change of the outstanding amount of credit on banks ́balance sheets does not consist only of new lending …

Research subject of this paper is the credit transmission mechanism in the Republic of Macedonia or in other words this …. The credit transmission is analyzed through its narrow nature or so called bank lending channel. In order to explain how … first one is the traditional bank lending channel explained by Bernanke and Blinder model and the second one is the credit …