alive, enterprises afloat, and households out of poverty. The pandemic has macroeconomic dimensions. First, it affects … macroeconomic stability and growth. Second, the tools of macroeconomic policy-fiscal and monetary policy together with debt … deficit and debt ratios. This paper discusses these macroeconomic dimensions, focusing on the developing world. The paper …

, financial crises, and slow macroeconomic recoveries: (i) corporate debt accounts for two thirds of the aggregate credit … predict crises similarly to household debt; (iii) a measure of imbalance in credit growth flowing disproportionately to some …Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the …