We analyze the determinants of real estate and credit bubbles using a unique borrower-lender matched dataset on … mortgage loans in Spain. The dataset contain real estate credit and price conditions (loan principal and spread, and the … contract) and the lender identity, over the last credit boom and bust. We find that lending standards are softer in the boom …

-off in situations with many alternative lenders (booms) and with few alternative lenders (credit crises), and explains how … the results depend on factors such as the severity of a credit crisis, the strength of the firm-bank relationship and the …

to activate macroprudential tools targeting excessive credit growth and leverage. To robustly select the key indicators … using credit to GDP gaps, credit to GDP ratios and credit growth rates, as well as real estate variables in addition to a …

valuable option worldwide, but credit risk is high. To encourage investors, P2P platforms use blockchain and the option of …

the credit supply process. The economy is susceptible to self-fulfilling credit freezes: banks abstain from lending when … they fear that other banks will withhold lending, and the resultant credit contraction impedes economic growth. Capital … credit to the real economy. However, the equilibrium interest rate reveals public information about economic fundamentals and …

In U.S. data 1981-2012, unsecured firm credit moves procyclically and tends to lead GDP, while secured firm credit is … acyclical; similarly, shocks to unsecured firm credit explain a far larger fraction of output fluctuations than shocks to … secured credit. In this paper we develop a tractable dynamic general equilibrium model in which unsecured firm credit arises …

This paper argues that self-fulfilling beliefs in credit conditions can generate endogenously persistent business cycle … shocks. Capital from less productive firms is lent to more productive ones in the form of credit secured by collateral and … also as unsecured credit based on reputation. A dynamic complementarity between current and future credit constraints …

In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secured firm credit is … acyclical; similarly, shocks to unsecured firm credit explain a far larger fraction of output fluctuations than shocks to … secured credit. In this paper we develop a tractable dynamic general equilibrium model in which unsecured firm credit arises …