The paper estimates the effects on the real economy of the sharp reduction in the supply of credit following the 2008 … financial crisis. We develop a measure of local credit supply that is based on the market shares of the banks that serve a local … factors). The decrease in our credit supply indicator, which is strongly correlated to the growth of outstanding loans …

In this paper the authors present an agent-based model of a credit network economy. The artificial economy includes … market, the labor market, the credit market and the housing market. A set of computational experiments, based on numerical … conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

We develop a model of bank lending that allows for credit rationing in equilibrium. Recognizing that small firms incur … a higher percentage cost of monitoring than large firms, the model shows that the incidence of bank credit rationing … consistent with a pattern of a differentially greater degree of rationing of credit to small borrowers during the Great Recession …

’ impact on lending cycles, controlling for other determinants of credit growth. We find robust empirical evidence that higher … credit growth and reduces the credit's decline if a systemic crisis materializes. Conversely, overly depleted bank capital … when entering a credit contraction period severely impacts lending (i.e., may bring about a deep credit crunch), with …

that excessive credit growth, credit cycles, and bank failures are phenomena related to distinct patterns of banks …

Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet … impaired financial intermediation is the culprit. Creditless recoveries are more common after banking crises and credit booms …

the Great Recession can be explained by reductions in the supply of mortgage credit. I construct a mortgage credit supply …