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dc.contributor.authorApergis, Nicholas
dc.contributor.authorChatziantoniou, Ioannis
dc.date.accessioned2020-10-02T15:37:45Z
dc.date.available2020-10-02T15:37:45Z
dc.date.issued2020-09-28
dc.identifier.citationApergis, N., and Chatziantoniou, I. (2020). 'Credit supply conditions and business cycles: New evidence from bank lending survey data'. Research in International Business and Finance, pp. 1-45.en_US
dc.identifier.doi10.1016/j.ribaf.2020.101332
dc.identifier.urihttp://hdl.handle.net/10545/625229
dc.description.abstractIn this study, we utilize an Autoregressive Distributed Lag (ARDL) model in order to investigate the impact of changing lending standards on aggregate economic activity, considering the period 2000-2017 and five major economies, that is, Canada, Germany, Japan, the UK, and the US. We capture lending conditions using bank lending survey data that help extract the credit-supply side of the shock and, thus, direct the focus onto loan supply-factors. The main findings document that shocks associated with changes in lending standards play a substantial role in determining changes in real economic activity within each country. It should also be noted that these results remain robust even when we consider a structural break in our data and investigate these effects separately for the period immediately after the outbreak of the Global Financial Crisis of 2007-09. Overall, the findings suggest that bank lending survey data provide important informational content and deepen our understanding regarding changes in real economic activity. On a final note, we provide further insights regarding the relationship of both price and non-price elements of bank lending, particularly considering the risk-taking channel of monetary policy.en_US
dc.description.sponsorshipN/Aen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.urlhttps://www.journals.elsevier.com/research-in-international-business-and-financeen_US
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectResearch Subject Categories::SOCIAL SCIENCESen_US
dc.subjectLending conditions, Bank lending surveys, Business cycles, ARDL modelen_US
dc.titleCredit supply conditions and business cycles: New evidence from bank lending survey dataen_US
dc.typeArticleen_US
dc.contributor.departmentUniversity of Derbyen_US
dc.contributor.departmentUniversity of Portsmouthen_US
dc.identifier.journalResearch in International Business and Financeen_US
dcterms.dateAccepted2020-09-14
refterms.dateFOA2020-10-02T15:37:46Z
dc.author.detail786373en_US


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Attribution-NonCommercial-NoDerivatives 4.0 International
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 International