This paper is a theoretical study into how credit constraints interact with aggregate economic activity over the … not only factors of production, but they also serve as collateral for loans. Borrowers' credit limits are affected by the … prices of the collateralized assets. And at the same time, these prices are affected by the size of the credit limits. The …

exchange. Money is important because of the relationship between money and credit. The process of judging credit worthiness, in … circumstances can have marked effects on the relevance of previously accumulated information and accordingly on the supply of credit …. Changes in the availability of credit may have marked effects on the level of economic activity, while changes in real …

Credit booms are not rare and usually precede financial crises. However, some end in a crisis (bad booms) while others … do not (good booms). We document that credit booms start with an increase in productivity, which subsequently falls much … faster during bad booms. We develop a model in which crises happen when credit markets change to an information regime with …

in the recent literature on financial crises: international capital movements and credit growth. Neither factor is …

arena of the afflicted countries, attributing the problems to financial systems where risks originated in excessive credit … with evidence. Of the two, the credit boom explanation stands out as the most plausible predictor of financial crises since … episodes of financial distress compared to direct indicators like credit drawn from the financial system itself …