This paper explores the link between monetary policies of large industrial countries and international credit cycles …. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of … large centre countries can fuel credit booms in emerging markets. We argue that the absorption of inflationary pressure by …

credit not only in emerging markets but also in advanced economies. These foreign bank flows can drive local credit credit … alongside householdlevel credit and consumption data from Germany. Regional banks that are highly exposed to fluctuations in … margin. Improved access to credit enables lower-income customers of exposed banks to increase non-durable consumer spending …

access credit, not only in emerging markets but also in advanced economies. Using supervisory bank-level data alongside … household credit and consumption data from Germany, we study how lending to households was impacted by the influx of cross … their lending on the extensive margin. The analysis concludes that Improved access to credit enables lower-income customers …