Belgrave, Anton; Guy, Kester; Jackman, Mahalia - In: The Review of Finance and Banking 04 (2012) 2, pp. 123-133
Despite the vast body of literature on the relationship between the macroeconomic environment and non-performing loans (NPLs), an area which has been neglected thus far, is a comparative study of the response of NPLs to industry-specific income shocks. Using panel VAR methods, this study...