This paper empirically investigates banks' investment allocations over the recent business cycle. I identify unsolicited deposit shocks resulting from unconventional energy development and estimate bank allocations of these deposits. In the pre-recession period, banks lend 38 percent of...

This article aims at assessing the main characteristics of the business cycle of 80 developed and developing countries. By comparing the possibility for these economies to enter or to exit a recession and the associated consequences, it aims at complementing existing literature with regard to...