Output and Inflation Responses to Credit Shocks: Are There Threshold Effects in the Euro Area?

This paper investigates whether output and inflation respond asymmetrically to credit shocks in the euro area. The methodology, based on a non-linear VAR system, follows work by Balke (2000) for the U.S. The results reveal evidence of threshold effects related to credit conditions in the economy. Co...

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Veröffentlicht in:	Studies in nonlinear dynamics and econometrics 2006-05, Vol.10 (2), p.5
Hauptverfasser:	Calza, Alessandro, Sousa, João
Format:	Artikel
Sprache:	eng
Schlagworte:	Banking industry Credit Eurozone Inflation Lending Studies
Online-Zugang:	Volltext
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