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Historical narratives typically associate financial crises with credit expansions and asset price misalignments. The question is whether some combination of measures of credit and asset prices can be used to predict these events. Borio and Lowe (2002) answer this question in the affirmative for...
Persistent link: https://www.econbiz.de/10003711679
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …
Persistent link: https://www.econbiz.de/10009244222
Persistent link: https://www.econbiz.de/10009626883
Persistent link: https://www.econbiz.de/10009269059
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modeling does not take into … account debt as one of the crucial determinants of economic dynamics. The authors' contribution, in this paper, is to …
Persistent link: https://www.econbiz.de/10009567074
"This paper proposes a methodology for measuring credit booms and uses it to identify credit booms in emerging and industrial economies over the past four decades. In addition, we use event study methods to identify the key empirical regularities of credit booms in macroeconomic aggregates and...
Persistent link: https://www.econbiz.de/10003803678
Persistent link: https://www.econbiz.de/10003733834
"This paper proposes a methodology for measuring credit booms and uses it to identify credit booms in emerging and industrial economies over the past four decades. In addition, we use event study methods to identify the key empirical regularities of credit booms in macroeconomic aggregates and...
Persistent link: https://www.econbiz.de/10003725079
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