ECB paper considers impact of banking shocks on Portugal
Banking shocks may have "considerable effects" on overall investment, researchers say
Credit supply shocks have a strong impact on investment at the firm level as well as on aggregate, argues a working paper published by the European Central Bank (ECB).
In The effect of bank shocks on firm-level and aggregate investment, João Amador and Arne J Nagengast apply the methodology developed in a 2013 paper by Mary Amiti and David E Weinstein to data on Portuguese bank-firm loans from 2005 to 2013. This methodology, the authors say, enables them to identify shocks at the level of banks
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