could file bankruptcy to free up income to pay their mortgage by having their credit card and other unsecured debts …

settlement relative to the precrisis period. The decrease in daylight overdrafts reduced credit risk for the Federal Reserve and …

This is the introduction to a volume which explores the changing role of banks in the financial intermediation process …. It accompanies a Liberty Street Blog series. Both discuss the complexity of the credit intermediation chain associated … a preview of the topics covered. Additionally, he lays out the overarching theme of the volume—the fact that banks …

Reduced-form models of default that attribute a large fraction of credit spreads to compensation for credit event risk … market portfolio during the credit event. When this channel is introduced within a general equilibrium framework for an … economy comprised of a large number of firms, credit event risk premia have an upper bound of just a few basis points and are …

We develop an empirical framework for the credit risk analysis of a generic portfolio of revolving credit accounts and … apply it to analyze a representative panel data set of credit card accounts from a credit bureau. These data cover the … significant economic stress conditions. We consider a traditional framework for the analysis of credit risk where the probability …

achieved by embedding the Melitz (2003) model into an incomplete-markets neoclassical framework with an endogenous credit …

traditional monetary policy conducted by central banks. We find that, introducing the macroprudential rule mitigates the effects … of booms on the economy by restricting credit. Furthermore, when both policies are active, interest-rate shocks have …

The study summarizes the main theories concerning the bidirectional relationship between the evolution of credit and … credit and indebtedness on the sustainability of economic growth. We have shown that the distortions caused by the credit are … credit; (ii) the over-indebtedness of companies and households, followed by debt deflation; (iii) the development of …

find the predicted price–volume relationship of credits over the 2003–2007 credit boom. …