This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity-credit …--on average, they occur every five years. By comparison, banking crises take place every eight years on average. Credit reversals …

This paper empirically estimates the main determinants of bank credit growth during the 2008 financial crisis. Using a … sample covering over 80 countries, this paper finds that larger bank credit booms prior to the crisis and lower GDP growth of … trading partners are among the most important determinants of the post-crisis bank credit slowdown. Structural variables such …

Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet … impaired financial intermediation is the culprit. Creditless recoveries are more common after banking crises and credit booms …

We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt …

This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a … presource curse', id est, natural resources can jeopardize fiscal sustainability even before 'the first drop of oil is pumped …

The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in …