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The Credit Channel and the Role of Monetary Policy Before, During and After the Global Financial Crisis. A Micro Data Approach to the Analysis of Bank-firm Relationships

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  • Franz R. Hahn
  • Werner Hölzl
  • Claudia Kwapil

    (Oesterreichische Nationalbank)

Abstract

At the center of this study is the identification of the empirically and, thus, policy relevant causes of financial contraction. Our focus is on identifying the "pure" credit-limiting supply effect in order to assess its importance as it is claimed in the theoretical literature.

Suggested Citation

  • Franz R. Hahn & Werner Hölzl & Claudia Kwapil, 2016. "The Credit Channel and the Role of Monetary Policy Before, During and After the Global Financial Crisis. A Micro Data Approach to the Analysis of Bank-firm Relationships," WIFO Studies, WIFO, number 59233, April.
    • Handle: RePEc:wfo:wstudy:59233
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    1. Peter Mayerhofer, 2016. "Unternehmensinvestitionen in den österreichischen Bundesländern. Entwicklung – Struktur – Funktion regionaler Förderung," WIFO Studies, WIFO, number 58936, February.

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