External Financing and Economic Activity in the Euro Area: Why are Bank Loans Special?

The Impact of Credit Supply Shocks in the Euro Area: Market-Based Financing Versus Loans

“…With respect to the literature on the growing share of market-based and non-bank financing in the EA, Aldasoro and Unger (2017) The rest of the paper is organised as follows. Section 2 describes the construction of our dataset and the stylised facts about loans and MBF provided to EA NFCs.…”