Finlay, Richard; Jääskelä, Jarkko P. - In: Journal of Macroeconomics 40 (2014) C, pp. 270-276
We investigate the impact of domestic and foreign credit supply shocks on a number of key macroeconomic variables for three small open economies: Australia, Canada and the UK. We find that negative domestic and foreign credit supply shocks together explain, on average, one-third to one-half of...