others blow over. We demonstrate that what makes some bubbles more dangerous than others is credit. When fueled by credit … slower recoveries. Credit-financed housing price bubbles have emerged as a particularly dangerous phenomenon. …

Household credit in Asia-Pacific has grown strongly over the past two decades. Managing household credit booms and … changes in interest rates and macroprudential measures on various types of credit growth. We find that changes in monetary … conditions reduce growth in household and housing credit over a two-year horizon. Macroprudential measures also significantly …