We analyse the forecasting power of different monetary aggregates and credit variables for US GDP. Special attention is …-variable single-equation framework with real GDP, an interest rate spread and a monetary or credit variable, in forecasting horizons …. In a second step, we use the selected monetary and credit variables within different VAR models, and compare their …

Gu, Mettesini, and Wright (2016) show that when buyers can use both money and credit, money can be essential only if … credit is tight, and then further decreases of credit are irrelevant. We find that by additionally allowing indirect credit … (i.e., borrowing money from third parties) – they only model direct credit (i.e., sellers allow buyers to pay later …