commercial credit rating agencies. Estimates for 20 emerging market economies show that sovereign ratings react procyclically to … run up to the crises. Simulations suggest modest efficiency gains of using sovereign credit ratings for capital …

Episodes of rapid credit growth, especially credit booms, tend to end abruptly, typically in the form of financial … crises. This paper presents the findings of a comprehensive event study focusing on 99 credit booms. Loose monetary policy … stances seem to have contributed to the build-up of credit booms across both advanced and emerging economies. In particular …

Between 2000 and 2007 nonfinancial private sector credit expanded rapidly in the Baltic countries, resulting in a non …

, sovereign spreads, and credit growth. This paper also shows that during this crisis, pre-crisis reserve holdings helped to …

liberalization, by equalizing access to credit, reduces the variation in expected marginal returns. They test this prediction using a …

This paper empirically analyzes the effects of a banking crisis on bank credit to the private sector for a panel of … credit function changes during a banking crisis, reflecting a generalized disruption in the stability of behavioral …

We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial … recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits … firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit …