to have a significant effect on economic activity and credit market variables, but to some extent also inflation, in all …

The work analyses the characteristics of supply in the Italian credit market with a focus on the years 2009-2014. By … bank credit standards, with a significant decrease in supply after the first semester of 2011. The data also reveal a …

Using a new structural model of credit risk based on the normal instead of the lognormal firm value dynamics and market … price implied asset value volatility as the model volatility input, we quantify the value of credit spreads of the four … financial crises of 2008-2009 and 2011, the maximum 5-year bank credit spread among the four largest banks was over 400 basis …

This paper aims to shed light on the characteristics and particularly the determinants of credit-less recoveries. After … building a dataset and documenting some stylised facts of credit-less recoveries in emerging market economies, this paper uses … panel probit models to analyse key determinants of credit-less recoveries. Our main findings are the following. First, our …

This paper proposes a semi-structural approach to identifying excessive household credit developments. Using an … overlapping generations model, a normative trend level for the real household credit stock is derived that depends on four …-aged cohort, and institutional quality. Semi-structural household credit gaps are obtained as deviations of the real household …

mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have … indeed been succesful in stimulating the credit flow of banks to the private sector. Second, we find support for the "bank … responded more to the credit support policies of the Eurosystem as a result of more favourable size, retail and liquidity …

Do different types of household credit affect income growth and income inequality differently? This empirical paper …. We find that the different types of household credit matter, and our contributions are twofold. First, on income growth …, both macro- and micro-analyses consistently find housing credit to be positively associated with future income growth …

of sticky bank-firm relationships, estimate its structural parameters in euro area credit register data, and infer …

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 …

-Keynesian analysis of credit institutions will help us determine new solutions for economic policy aiming at full employment. Following … rather a practical reflection on the optimal economic policies resting on an in-depth understanding of money and credit …