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vector autoregression approach. We estimate that a one standard deviation shock to the balance of firms reporting difficulty … obtaining finance (a 'credit supply shock') reduces Australian GDP by almost ⅓ per cent after one year and gross national …
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The long-running debate about the role of monetary policy in responding to rising asset prices has received renewed attention in the wake of the global financial crisis.This paper contributes to this debate by describing the Australian experience of a cycle in house prices and credit from 2002...
Persistent link: https://www.econbiz.de/10008642169