measures that aim to avoid credit overexpansion are two policies that can improve the links of private debt with labour income …

choices, even if most workers will not experience a disaster. Uncertainty about the size of human capital losses, which …

the latest halfcentury. For the OECD sample as a whole, we confirm through 2016 the strong smoothing role played by credit … important channels − namely credit markets and real exchange rate adjustments - exhibit slightly positive trends for the first … example, risk sharing through credit markets, while quite effective on impact, provokes dis-smoothing for about two thirds of …

the European Union member states that have large penetration of bank credit. Building on the model of financially open … increase in private bank credit relative to the gross domestic product (GDP) and the gap between real interest rate and GDP …