the credit cycle from the micro rating data. We relate this cycle to the business cycle, bank lending conditions, and …We study the relation between the credit cycle and macro-economic fundamentals in an intensity-based framework. Using … financial market variables. In line with earlier studies, these variables appear to explain part of the credit cycle. As our …

In many credit risk and pricing applications, credit transition matrix is modeled by a constant transition probability … prediction of transition matrices in the presence of possible structural breaks. Estimating the model by credit rating histories …

In this paper we take into account the role of the banking system, credit and stock market in stimulating aggregate … capitalisation and domestic credit availability are strongly responsible for stimulation of investment, saving and productivity … Growth in Hong Kong . The UK financial system seems vulnerable to future shocks, whether by shocks in the credit markets or …