expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house …

expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house … asymmetric information, and shed light on the relationship between credit booms and financial instability …

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 …

-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 …

are experiencing credit booms. This paper analyzes the role of foreign-owned banks in these credit booms. The results show …

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 …

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on …

(FCI). Credit availability-proxied by survey results on lending standards-is an important driver of the business cycle … the impact of monetary policy on the economy also works through its effects on credit supply, which is evidence supporting … the existence of a credit channel of monetary policy. Shocks to corporate bond yields, equity prices, and real exchange …

This paper investigates the behaviour of credit rating agencies using a natural experiment in monetary policy. We … the waiver of private credit rating eligibility requirements applied to recently downgraded issuers …