Other publications may include books, quarterly reviews, annual reports and economic bulletins from the ECB, PhD theses and Danmarks Nationalbank’s policies.

Financial stability and financial risks

The Credit Channel in Monetary-Policy Analyses

The credit channel is an aggregate term for a number of theories implying that monetary policy also has an impact via a change in the supply of bank loans. This article provides an overview of these theories and their practical relevance. In Denmark the credit channel is presumably less significant than in most other countries.