from the USA. …

policy interest rate cuts and unconventional policy measures to higher asset prices and lower cost of credit in and outside … willingness to supply credit. The paper also stresses that the monetary accommodation risks having unintended negative … conventionnelles de politique monétaire à des prix d’actifs plus élevés et un coût du crédit plus faible à l’intérieur et à l …

is obvious, namely credit growth for an economic recovery. This is possible under the conditions that these loans are …

countries’ credit spreads. …

The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it. In this paper, we … provide an empirical and theoretical analysis of the credit boom and the macroeconomic context in which it developed. We find … economies in which it took place. We show that this type of credit and financial cycle is hard to reconcile with existing …

rational-expectations, microeconomic model of why the local crisis escalated into a general freeze in credit flows. It then …