Gross credit flows, credit reallocation, and the macroeconomy

该项目旨在根据澳大利亚和其他国家的银行监管数据构建信贷再分配措施。该项目旨在开发能够评估信贷再分配对总产出的作用的经验模型，以及具有搜索和匹配摩擦的理论模型，以定量评估银行信贷在解释宏观经济结果中的作用。该项目预计将为政策制定者评估货币和信贷政策之间的相互作用，制定宏观经济和宏观审慎政策，并揭示澳大利亚生产力动态的原因，提高其比较优势提供重大利益。

This project aims to construct measures of credit reallocation from regulatory bank-level data for Australia and other countries. The project intends to develop empirical models able to evaluate the role of credit reallocation on aggregate output and a theoretical model with search and match frictions to evaluate quantitatively the role of bank credit in explaining macroeconomic outcomes. The project expects to provide significant benefits for policymakers for assessing the interplay between monetary and credit policy, formulating macroeconomic and macro prudential policies, and shedding light on the causes of productivity dynamics in Australia, boosting its comparative advantage.