Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for …

beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in … the short-term popularity benefits of weak credit booms rather than implementing politically costly corrective policies …

The crisis of the advanced economies in 2008-09 has focused new attention on money and credit fluctuations, financial … crises, and policy responses. We study the behavior of money, credit, and macroeconomic indicators over the long run based on … half of the twentieth century as shown by a decoupling of money and credit aggregates. We show for the first time how …

of mortgage credit by exploiting within-county variation across zip codes that differed in latent demand for mortgages in …

through the credit market. This paper does so by using data that follows all loans made by lenders to borrowing firms in … lowers the probability of continued lending to old clients and extending credit to new ones. Although this lending channel …

The 'credit channel' theory of monetary policy transmission holds that informational frictions in credit markets worsen … credit aggregates are not valid tests of this theory. … components to monetary policy shocks and describe how the credit channel helps explain the facts. We discuss two main components …

This paper empirically tests the importance of the credit channel in the transmission of monetary policy. Three credit … of short-term debt of small and large firms. In order to determine the marginal effect of the credit channel over the … standard money channel, the significance of the credit variables is studied in a model that includes money (M2). In most cases …