What type of study is this?

This is a Quasi-Experimental study (also classified as: Human Clinical Trial).

Two Engines, One Boom: Disentangling Credit's Real Effects

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Empirical analysis shows credit expansion impacts consumption and investment in households and firms, indicating key macroeconomic dynamics.

Credit expansions boost consumer demand through improved access, leading to strong growth in consumption.
The firm-side credit channel significantly influences investment dynamics, accounting for around 71% of cumulative effects over ten years.
Analysis utilizes quasi-natural experiments from bank deregulation, employing a heterogeneous-agent New Keynesian model to explore economic impacts.
Understanding the distinct roles of household and firm channels is essential for crafting effective macroeconomic stabilization policies.

Wei Cui (2025) studied this question.

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Empirical analysis shows credit expansion impacts consumption and investment in households and firms, indicating key macroeconomic dynamics.