Credit cycles : experimental evidence

Baptiste Massenot

Credit boom-busts are observed in experimental credit markets with perfect information, no aggregate shocks, and no speculative motive. By contrast, a stable outcome is observed in the island economy, which isolates the borrowers but is otherwise similar to the market economy. The higher willingness to pay for credit following higher market but not island interest rates is consistent with herding, which can create spiraling e↵ects and predict a credit boom-bust.

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Year of publication:	[2020]
Authors:	Massenot, Baptiste
Publisher:	Frankfurt am Main : Leibniz Institute for Financial Research SAFE, Sustainable Architecture for Finance in Europe
Subject:	Kreditmarkt \| Credit market \| Vollkommene Information \| Complete information \| Zahlungsbereitschaftsanalyse \| Willingness to pay \| Island \| Iceland

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Extent:	1 Online-Ressource (circa 25 Seiten) Illustrationen
Series:	SAFE working paper. - Frankfurt am Main : SAFE, ZDB-ID 2745463-0. - Vol. no. 104
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.2607869 [DOI] hdl:10419/225336 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

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