The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt … overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to … non-financial private sector had been originated by shadow banks. Consequently, dampening credit creation by the …

The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it. In this paper, we … provide an empirical and theoretical analysis of the credit boom and the macroeconomic context in which it developed. We find … economies in which it took place. We show that this type of credit and financial cycle is hard to reconcile with existing …

We show that credit supply shocks have a strong impact on firm-level as well as aggregate investment by applying the …

Using detailed data of all German banks, we find that banks which have suffered heavy credit losses reduce their … assumption of constant leverage. Weakly capitalized banks grant fewer new loans than other banks. We control for credit demand …

resulting volatility of bank loan volumes. We argue that since the volume of retail deposits is slow and costly to adjust to …

We study the synchronization of credit booms and busts among 12 major European economies and the United States between … 1972-2011. We propose a regression-based procedure to test whether boom-bust phases of credit cycles coincide across … countries and to cluster countries with positively synchronized credit cycles. We find strong evidence against the existence of …

lending can be explained by a shift in credit towards both export-intensive firms and small banks without foreign asset … exposure that have a higher share of exporting firms in their credit portfolio. We also find that German regions where these …