contractive regime associated with decreasing housing values and shrinking credit volume. Regime switches occur even under small … in fundamentals. -- OLG ; Housing prices ; Credit volume ; Boom-bust scenarios ; Regime switching …

and therefore the firm’s ability to borrow, in the presence of credit market imperfections. How the business cycle is … the topic of this paper. We find that the fluctuations in the supply of credit that result from this may significantly … Cycles ; Credit Market Imperfections ; Loan Supply …