DANMARKS NATIONALBANK WORKING PAPERS 2012 • 78

1 DANMARKS NATIONALBANK WORKING PAPERS 2012 • 78 Kim Abildgren Danmarks Nationalbank Financial structures and the real effects of credit-supply shocks in Denmark 1922-2011 January 2012

• stock of broad money
• negative output effect from a negative loan supply shocks
• real effects of credit-supply shocks
• negative loan supply shocks
• quarterly data
• term interest rate
• real gdp
• unemployment rate