shocks exhibit lower financial debt growth, asset growth, investments, and operating margin growth. Positive credit supply …Current empirical methods to identify and assess the impact of bank credit supply shocks rely strictly on multi … economy and most prone to credit supply shocks. We propose and underpin an alternative demand control (using industry …

During the recovery from the recent crisis, the general role of lending in economic growth, and particularly in the … creditless recovery episodes and recoveries accompanied by growth of credit. Based on the literature, we find that creditless … of credit. The rate of economic growth is permanently lower during creditless recoveries than in episodes accompanied by …