became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by … better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the …

In periods of stress, acute liquidity squeeze can manifest in the riskier segments of the credit market, even amid a … central bank takes on greater credit risk, but achieves an outcome that is more productively efficient than simply reducing …

We analyze the determinants of real estate and credit bubbles using a unique borrower-lender matched dataset on … mortgage loans in Spain. The dataset contain real estate credit and price conditions (loan principal and spread, and the … contract) and the lender identity, over the last credit boom and bust. We find that lending standards are softer in the boom …

"high-yield" firms, prefer issuing bonds to borrowing from their bank. Over 40% of bond issuers leave their credit line …