Noticeable pauses in bank lending, measured against a long-term trend. Such breaks are considered a measure of leverage for the economy as a whole (credit gaps provide a measure of leverage for the economy as a whole) and are assessed accordingly by the central bank in its forecasting models. – See Credit Constraint Carousel. – Cf. ECB Monthly Bulletin of November 2010, pp. 83 et seq. (signal function of credit gaps; p. 86: credit gap proved to be a useful warning signal), ECB Monthly Bulletin of May 2013, pp. 44 et seq. (detailed statistics relating to SMEs).
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