Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …

sector credit booms rather than from the expansion of public debt. However, we find evidence that high levels of public debt … peak; (ii) the output drop is even worse and recovery even slower when the crisis is preceded by a credit boom; and (iii …) the path of recovery is worse still when a credit-fueled crisis coincides with elevated public debt levels. Recent …

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for … course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for … course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …

This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study …; and for both types of recession, more credit-intensive expansions tend to be followed by deeper recessions and slower … controls and their lags. Then we study how past credit accumulation impacts the behavior of not only output but also other key …

1870. We find that in advanced economies financial stability risks have come from private sector credit booms and not from …

This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study …; and for both types of recession, more credit-intensive expansions tend to be followed by deeper recessions and slower … controls and their lags. Then we study how past credit accumulation impacts the behavior of not only output but also other key …

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for … course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …