The euro area Bank Lending Survey matters: empirical evidence for credit and output growth

Gabe de Bondt, Angela Maddaloni, Jose-Luis Peydro and Silvia Scopel

No 1160, Working Paper Series from European Central Bank

Abstract: This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP growth. Notwithstanding the short history of the survey, the findings are robust across various specifications, including JEL Classification: C23, E32, E51, E52, G21, G28

Keywords: Bank Lending Survey; business cycle; credit cycle; euro area; monetary policy transmission (search for similar items in EconPapers)
Date: 2010-02
New Economics Papers: this item is included in nep-ban, nep-cba, nep-eec, nep-mac and nep-mon
Note: 337418
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (64)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20101160

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