Central banks are at the epicenter of the current crisis. Accused of starting the crisis or, conversely, praised for … having worked to overcome it, central banks need to draw conclusions stemming from the global crisis and to undertake … necessary reforms. At present, when the crisis appears to be complete and a new era of growth seems to commence, central banks …

of credit as a ratio of the gross domestic product (GDP), an application of Schumpeter’s theory of credit and development … three aims. First, Schumpeter sharply distinguished between the volume of credit financing development and the (typically … larger) volume of the ‘secondary wave’ of credit financing consumption, over-investment and speculation, which follows the …

This paper compares the behavior of Euro-Area (EA) banks’ credit and reserves with those of US banks following … respective major crisis triggers (Lehman’s collapse in the US and the 2009 admission by Papandreou, that Greece’s deficit was … substantially higher than previously believed, in the EA). The paper shows that, although the behavior of banks’ credit following …

We present a quantitative study of the markets and models evolution across the credit crunch crisis. In particular, we …-discounting, in terms of credit and liquidity effects. We also review the new modern pricing approach prevailing among practitioners …, based on multiple yield curves reflecting the different credit and liquidity risk of Libor rates with different tenors and …

In this paper we present and discuss a Macroeconomic Agent-Based Model with Capital and Credit (CC-MABM) which builds … households. Both C-firms and K-firms resort to bank loans to satisfy their financing needs. There are two-way feedbacks between … and downstream firms and the evolution of their financial conditions – in a nutshell: Capital and Credit – are essential …

banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone … but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking … demonstrates that chronic banking crises and scarce credit are not accidents due to unforeseen circumstances. Rather, these …

banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone … but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking … demonstrates that chronic banking crises and scarce credit are not accidents due to unforeseen circumstances. Rather, these …

the impact of a large credit support program deployed in Peru in 2020 (Reactiva Peru'). We examined real outcomes such as …