We analyze the determinants of real estate and credit bubbles using a unique borrower-lender matched dataset on … mortgage loans in Spain. The dataset contain real estate credit and price conditions (loan principal and spread, and the … contract) and the lender identity, over the last credit boom and bust. We find that lending standards are softer in the boom …

This paper contributes to the literature on the properties of money and credit indicators for detecting asset price … several macroeconomic monetary, financial and real variables. According to statistical tests, credit aggregates (either in … models ; monetary aggregates ; credit aggregates …

alternativen Kointegrationstestverfahrens die Ergebnisse nicht. -- Finanzkrise ; Geldmenge ; Immobilienpreise ; Liquidität …