Procyclicality of credit supply, which refers to the simultaneous movement of credit issued to the non-financial sector …. The impact of credit supply on the financial and real sectors may vary across different economies, and the …

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 …