firms' credit worthiness and to higher efficiency of banks in acquiring this informations. We also quantify the effect of …

, the model reflects empirical credit spread patterns, rationalizes the observed joint distribution of corporate events and …

We show that credit spreads rise after a monetary policy tightening, yet spread reactions are heterogeneous across …-financial firms, we document that firms with high leverage experience a more pronounced increase in credit spreads than firms with low … leverage. A large fraction of this increase is due to a component of credit spreads that is in excess of firms' expected …

Recent empirical evidence on the cross-country synchronization of credit spreads in response to US monetary policy … shocks has led to the notion of an ‘international credit channel' of US monetary policy. This paper provides novel evidence … on the existence of an international credit channel for the transmission of US financial shocks across borders, and …

resources in the form of deposits. Therefore, bank credit needs to be modelled as a monetary phenomenon, which directly fuels … closely resembles that of credit, which allows us to analyse real and nominal consequences of bank credit (and money) creation. …

This paper examines the changes in bank credit to private sector across six economies in the South Pacific. An … inflation rates may be detrimental to credit growth, and that deposit and asset size contribute positively to credit growth …. Results also indicate that stronger economic growth leads to higher credit growth. A number of policy implications emerge and …