Anundsen, André K.; Hansen, Frank; Gerdrup, Karsten; … - Norges Bank - 2014
This paper exploits a quarterly panel data set for 16 OECD countries over the period 1975q1–2013q2 to explore the importance of house prices and credit in affecting the likelihood of a financial crisis. Estimating a set of multivariate logit models, we find that booms in credit to both...