This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid … expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house …

predict crises similarly to household debt; (iii) a measure of imbalance in credit growth flowing disproportionately to some …Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the …, financial crises, and slow macroeconomic recoveries: (i) corporate debt accounts for two thirds of the aggregate credit …

We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to … important dynamic implications. During credit booms driven by high collateral values (e.g. real estate booms), the economy …

recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits …We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial … sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the …

recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits …We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial … sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the …