therefore rely on input credit. Such countries are mainly emerging and developing economies, whose business cycle dynamics are …

carry a uniform risk weight, irrespective of variations in credit risk. The proposed new Capital Accord of the Bank for … International Settlements provides for a greater sensitivity of capital requirements to credit risk, raising the question of whether … agencies. We combine Moody's data on changes in U.S. borrowers' credit ratings since 1970 with estimates of the risk profile of …

Using U.S. data from 1929 to 2013, we show that elevated credit-market sentiment in year t-2 is associated with a … credit-market conditions. That is, when our sentiment proxies indicate that credit risk is aggressively priced, this tends to … be followed by a subsequent widening of credit spreads, and the timing of this widening is, in turn, closely tied to the …

small businesses in the United States are one of the drivers explaining the unemployment dynamics during the Great Recession … credit constraints hypothesis. …

yield curve, the percent change in housing starts, and the change in the unemployment rate to the model reduces false …

serious difficulties for stabilization policy. This paper investigates whether the credit-to-GDP ratio gap, which has been …-post revisions to the U.S. credit-to-GDP ratio gap are sizable and as large as the gap itself, and that the main source of these …