The Effect of Credit Supply Shocks on Economic Activity: A Threshold Vector Autoregression Approach

2017 ◽  
Author(s):  
Joshua Wojnilower
Keyword(s):  
Economic Activity ◽  
Vector Autoregression ◽  
Credit Supply ◽  
Supply Shocks

scholarly journals CREDIT SUPPLY SHOCKS AND ECONOMIC ACTIVITY IN BRAZIL

2019 ◽  
Vol 37 (73) ◽  
Author(s):  
Adonias Evaristo da Costa Filho
Keyword(s):  
Economic Activity ◽  
Bank Lending ◽  
Output Growth ◽  
Vector Autoregressions ◽  
Bank Lending Channel ◽  
Lending Channel ◽  
Credit Supply ◽  
Supply Shocks ◽  
Credit Shocks

This paper studies the role of credit supply shocks in Brazil, throughBayesian Vector Autoregressions (BVARs) with sign restrictions. It isfound that credit supply shocks, either standalone or associated withthe bank lending channel of monetary policy, lead to relatively mildeects on output growth. Despite the credit deepening observed inthe last decade, credit shocks were not prominent drivers of businesscycles in Brazil.

Credit Supply Shocks and Real Economic Activity

2017 ◽  
pp. 279-299
Author(s):  
Nombulelo Gumata ◽  
Eliphas Ndou
Keyword(s):  
Economic Activity ◽  
Credit Supply ◽  
Supply Shocks

Local Debt Inflexibility and the Transmission of Credit Supply Shocks

2012 ◽  
Author(s):  
Lei Zhang ◽  
Massimo Massa
Keyword(s):  
Credit Supply ◽  
Supply Shocks

scholarly journals On the Direct and Indirect Real Effects of Credit Supply Shocks

2018 ◽  
Author(s):  
Laura Alfaro ◽  
Manuel Garcca-Santana ◽  
Enrique Moral-Benito
Keyword(s):  
Real Effects ◽  
Credit Supply ◽  
Supply Shocks

Credit supply shocks and the Great Depression in Germany

2020 ◽  
Author(s):  
Max Breitenlechner ◽  
Daniel Gründler ◽  
Gabriel P Mathy ◽  
Johann Scharler
Keyword(s):  
Great Depression ◽  
Aggregate Demand ◽  
Banking Crisis ◽  
Expansion Phase ◽  
Vector Autoregressive ◽  
Credit Supply ◽  
The Great Depression ◽  
Supply Shocks ◽  
Structural Vector Autoregressive Model ◽  
Structural Vector

Abstract At the peak of the Great Depression in mid-1931, Germany experienced a severe banking crisis. We study to what extent credit constraints contributed to the downturn by fitting a structural vector autoregressive model with data from January 1925 to September 1935. Adverse credit supply shocks contributed strongly to the downturn especially at the time of the 1931 banking crisis. Before that, credit supply shocks had also contributed to the expansion phase preceding the depression. We also find that aggregate demand and U.S. business cycle shocks were the primary drivers of the German Great Depression.

scholarly journals International credit supply shocks

2018 ◽  
Vol 112 ◽  
pp. 219-237 ◽  
Author(s):  
Ambrogio Cesa-Bianchi ◽  
Andrea Ferrero ◽  
Alessandro Rebucci
Keyword(s):  
Credit Supply ◽  
Supply Shocks ◽  
International Credit

scholarly journals Internal Capital Markets in Business Groups and the Propagation of Credit Supply Shocks

2019 ◽  
Vol 19 (111) ◽  
pp. 1
Author(s):  
Yu Shi ◽  
Robert Townsend ◽  
Wu Zhu
Keyword(s):  
Capital Markets ◽  
Business Groups ◽  
Internal Capital Markets ◽  
Credit Supply ◽  
Supply Shocks ◽  
Internal Capital

scholarly journals Firms’ financial and real responses to credit supply shocks: Evidence from firm-bank relationships in Germany

2020 ◽  
Vol 41 ◽  
pp. 100773 ◽  
Author(s):  
Nadja Dwenger ◽  
Frank M. Fossen ◽  
Martin Simmler
Keyword(s):  
Credit Supply ◽  
Supply Shocks

scholarly journals An Empirical Analysis of Macroeconomic Variability on the Ghanaian Stock Market: A Vector Autoregression Approach

2016 ◽  
Vol 3 (2) ◽  
pp. 49
Author(s):  
Beverly Acquah
Keyword(s):  
Stock Market ◽  
Interest Rates ◽  
Stock Prices ◽  
Economic Activity ◽  
Price Index ◽  
Vector Autoregression ◽  
Negative Relationship ◽  
Commodity Prices ◽  
Commodity Price ◽  
Macroeconomic Indicators

This study investigates the dynamic interrelationships among stock prices and selected macroeconomic indicators namely; economic activity, global commodity price index, inflation and interest rates in Ghana. By employing a Vector Autoregression (VAR) Model, the empirical results reveal that stock prices depreciate with an increase in global commodity prices and interest rates indicating a negative relationship. On the other hand, stock prices appreciate with an increase in inflation and economic activity indicating a positive relationship. Examining stock market variability on the selected macroeconomic variables also showed that inflation and interest rates respond negatively to changes in asset prices while the stock market itself is not found to be a leading indicator for economic activity. The evidence suggests that the listed equities on the GSE are a hedge against inflation in Ghana. Increasing economic activity over time is advantageous for the Ghanaian stock market.

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