This paper examines how the materialization of credit defaults affects the real economy. I estimate a DSGE model … including banks, firms and financial frictions using euro area data. The estimation results show that a positive credit default … shock, which is identified as an unanticipated increase in credit default losses, complicates monetary policy because output …

consider credit demand friction due to agency cost, but it deviates from BGG in that financial intermediaries have to share … contract. Low bank capital position can create strong credit supply contraction, and have a significant effect on business …

Market participants and policymakers alike were surprised by the large, prolonged dislocations in credit market …

This paper examines the effectiveness of macroprudential regulations in promoting bank stability and credit in the … Kenyan financial system. The study uses bank-level and nonbank credit data for the period 2001-2019 and applies a panel … credit market and domestic leakage associated with macroprudential regulations. The paper cautions policymakers to implement …

” accounting approaches are found not to reduce the cyclicality of accounting income or credit supply as long as banks cannot …