estimate the impact of foreign bank presence on the level and volatility of real credit in a panel of eight Latin American … bank presence has contributed to reduce real credit volatility, improving the buffer shock function of the banking sector … quality assets and having access to a broad set of liquidity sources. -- foreign banks ; credit volatility ; Latin America …

This paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …. The market interaction of young credit-constrained households with older or richer unconstrained households generates the … following results. (1) Current income of young credit-constrainded households affects housing prices independentlyof aggregate …