English to Spanish Bus/Financial Finance (general)

The second approach aims at directly identifying a situation of rationed credit either in a **macro approach** by estimating credit demand and credit supply functions which allows to calculate a measure of excess demand (or excess supply) in the credit market, or by extracting information from micro data on the firm level. The assessment of the situation on the Euro Area level has to be much less sophisticated due to the short history of available data.

Thanks to all for your suggestions!