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We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic … relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits …. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also …
Persistent link: https://www.econbiz.de/10012677365
-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence … credit booms supervisors need to carefully monitor the soundness of rapidly expanding banks and stand ready to take ac …
Persistent link: https://www.econbiz.de/10012677467
expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house …
Persistent link: https://www.econbiz.de/10012677586
are experiencing credit booms. This paper analyzes the role of foreign-owned banks in these credit booms. The results show …
Persistent link: https://www.econbiz.de/10012677659
investment). In addition, our empirical model allows for feedback from spending and income to bank capital adequacy and credit … a negative shock to banks' capital/assetratio on lending standards, which in turn affect consumer credit, mortgages, and …. Hence, we trace the full credit cycle. An exogenous fall in the bank capital/asset ratio by one percentage poin …
Persistent link: https://www.econbiz.de/10012677610
Persistent link: https://www.econbiz.de/10012678157
credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank … credit. We also find that higher tax compliance costs reduce firms' reliance on bank credit, while a stronger quality of the … legal environment is associated with higher access to credit even for financially opaque informal firms. An interactive term …
Persistent link: https://www.econbiz.de/10014409020
€˜buffer stock’ model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model …We argue that the U.S. personal saving rate’s long stability (from the 1960s through the early 1980s), subsequent … is affected by the gap between ‘target’ and actual wealth, with the target wealth determined by credit conditions and …
Persistent link: https://www.econbiz.de/10011242291
'buffer stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the …We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent … model is affected by the gap between 'target' and actual wealth, with the target wealth determined by credit conditions and …
Persistent link: https://www.econbiz.de/10009622528
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a ""store …-or-sow"" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low … shocks leads to low precautionary saving and high or low investment, depending on the volatility of temporary shocks …
Persistent link: https://www.econbiz.de/10009615558