Exploring the trade-off between leaning against credit and stabilizing economic activity

Luca Benati

Economics Letters, 2023, vol. 223, issue C

Abstract: Evidence from monetary VARs points towards an unfavorable trade-off between leaning against credit fluctuations and stabilizing real economic activity. Results are robust both across countries, and based on two alternative approaches.

Keywords: Credit; Structural VARs; Sign restrictions; Zero restrictions; Lucas critique (search for similar items in EconPapers)
JEL-codes: E2 E3 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:223:y:2023:i:c:s0165176523000198

DOI: 10.1016/j.econlet.2023.110994

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