Recent literature on financial development and growth has highlighted the possibility of endogenous business cycles … activity and neglect the role of credit to consumption. In this note, we consider an endogenous growth model, where a …

Following the literature on growth, cycles and financial development, this paper develops an endogenous growth model …

We analyze recent contributions to growth theory based on the model of expanding variety of Romer (1990). In the first …

credit exist) and fluctuations affecting the trend of economic growth, is a relevant theme of discussion in macroeconomics …

This paper empirically examines how financial development influences the impact of remittances on GDP growth volatility … impact of remittances on GDP growth volatility is nonlinear and changes over time and across countries in function of …

This paper investigates whether volatility of financial development plays a role in determining industrial growth … volatility on industrial volatility mainly works through the increase in fluctuations of the growth of real value added per firm … stock market positively associate with higher industrial growth volatility, which contrasts sharply with the finding in the …

leverage. We find that (i) although the spreads correlate with the left tail of the conditional distribution of GDP growth …, they provide limited advanced information on growth vulnerability; (ii) nonfinancial leverage provides a leading signal for … the left quantile of the GDP growth distribution in the 2008 recession; (iii) measures of excess leverage conceptually …

over the past decade. Those scenarios underscore the important role of credit growth in supporting activity during the past … end of 2016 has contributed to a modest slowing of credit growth and activity …

growth …

role of credit creation in the economic system, a new perspective on the financial role in defining the growth path needs … to be developed by filling the gaps in New Growth Theory (NGT) (Aghion and Howitt, 1998) and Evolutionary Theory (ET …