Nadeem, Sanaa; Riad, Nagwa; Rosha, Anjum; DeLong, Chanda; … - 2021
One consequence of interest rates remaining 'too low for too long' since the Global Financial Crisis is the buildup in private leverage in emerging economies. These vulnerabilities have been laid bare by the COVID-19 shock. This paper employs the growth at risk framework (Adrian, Boyarchenko,...