CREDIT SUPPLY SHOCKS AND ECONOMIC ACTIVITY IN BRAZIL
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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.
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2015 ◽
Vol 2015
(1137)
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pp. 1-47
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2013 ◽
Vol 37
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pp. 314-332
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2020 ◽
Vol 32
(8)
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pp. 1038-1061
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