Focal Interest
Focal Interest

Credit channel

  1. Morocco’s bank credit shows short-run inertia, not immediate policy-rate response
    ARDL–ECM analysis reveals limited short-run monetary transmission to bank credit in Morocco, with dynamics driven by prudential and balance-sheet channels rather than interest-rate mechanisms.
  2. European housing markets mediate monetary policy effects
    Analyze how monetary policy affects European housing markets over 30 years, revealing housing prices respond more strongly than inflation and output to policy shocks.