Hume, Michael; Sentance, Andrew - In: Journal of International Money and Finance 28 (2009) 8, pp. 1426-1461
The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it. In this paper, we provide an empirical and theoretical analysis of the credit boom and the macroeconomic context in which it developed. We find that the boom was unusually long and associated with...
