Denk, Oliver; Schich, Sebastian; Cournède, Boris - In: OECD Journal: Financial Market Trends 2014 (2014) 2, pp. 63-88
What are the economic effects of implicit bank debt guarantees and who ultimately benefits from them? This paper finds that “financial excesses” – situations where bank credit reaches levels that reduce economic growth – have been stronger in OECD countries characterised by larger values...