Recent theories of crisis put lending booms at the root of financial collapses. Yet lending booms may be a natural consequence of economic development and fluctuations. So are lending booms dangerous? In this paper, we investigate empirically this question using a broad sample of lending boom...

Ten years of inflation targeting worldwide provide valuable lessons. Inflation targeters (Iters) have been very successful in meeting their inflation targets (Its). Industrial output sacrifice during inflation stabilization and industrial output volatility has frequently been lowered after IT...