Recent theories of crisis put lending booms at the root of financial collapses. Yet lending booms may be a natural consequence of economic development and fluctuations. So are lending booms dangerous? In this paper, we investigate empirically this question using a broad sample of lending boom...

The purpose of this paper is twofold. First, we review the history of indexation in Chile since 1938. We focus on interpreting indexation in the historical, political, and economic context of different stages of Chilean economic development. Second, we analyze the experience of a selected group...