Credit Booms are not rare; some end in a crisis (bad booms) while others do not (good booms). We document that credit … which crises happen when credit booms change to an information regime with careful examination of collateral. As this …

This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity-credit …--on average, they occur every five years. By comparison, banking crises take place every eight years on average. Credit reversals …

Credit booms are not rare and usually precede financial crises. However, some end in a crisis (bad booms) while others … do not (good booms). We document that credit booms start with an increase in productivity, which subsequently falls much … faster during bad booms. We develop a model in which crises happen when credit markets change to an information regime with …

Credit booms are not rare and usually precede financial crises. However, some end in a crisis (bad booms) while others … do not (good booms). We document that credit booms start with an increase in productivity, which subsequently falls much … faster during bad booms. We develop a model in which crises happen when credit markets change to an information regime with …

question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …

hypothesis of safe asset shortage-induced excess credit booms and financial instability. As an alternative step forward from the …. Using the index, consecutive empirical exercises confirm the positive relationship of safe asset shortage-credit expansion …-2013 presents new evidence that the (high) level of private credit at a time of increasing safe asset shortage is the major …