Bezemer, Dirk; Grydaki, Maria - In: Journal of Banking & Finance 49 (2014) C, pp. 169-177
A nascent literature explores the measurement of financial fragility. This paper considers evidence for rising financial fragility during the 1984–2007 Great Moderation in the U.S. The literature suggests that macroeconomic stability combined with strong growth of credit to asset markets, in...