total credit versus bank lending alone. Further, following the sort of adverse developments in credit conditions experienced …

goods firms and capital goods firms)and as an innovation a banking system, a central bank and a monetary circuit. Thereby …, the central bank controls the business cycle via an interest rate policy; the according mechanism builds on the seminal …

"A century of macroeconomic and monetary thought at the National Bank of Belgium" traces the history of economic … research at the National Bank of Belgium, from the early decades of the 20th century to its present functioning in the … monetary thinking at the National Bank of Belgium. The focus is very much on the role of the Research Department in …