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We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that allows for bank and nonbank financial intermediation. We posit economy-wide aggregate and sectoral disturbances to potentially drive bank and nonbank credit growth. We find that...
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We propose a parsimonious semiparametric method for macroeconomic forecasting during episodes of sudden changes. Based …
Persistent link: https://www.econbiz.de/10011708260