scale from pre-existing credit lines and loan commitments in anticipation of cash flow disruptions from the economic …

banks in providing credit to smaller borrowers about whom information is least complete and, more generally, support the …

are usually preceded by credit booms. Second, credit booms often do not result in a crisis. That is, there are "good …

the balance of payments. Comparing Latin America and the rest of the world, we find that Latin America lending booms make …

In advanced economies, a century-long near-stable ratio of credit to GDP gave way to rapid financialization and surging …

Credit booms are not rare and usually precede financial crises. However, some end in a crisis (bad booms) while others … do not (good booms). We document that credit booms start with an increase in productivity, which subsequently falls much … faster during bad booms. We develop a model in which crises happen when credit markets change to an information regime with …