Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real …

Why do advanced economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit … that financially more deregulated economies are more likely to experience persistent stagnation. In the short run, credit …

Why do advanced economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit … that financially more deregulated economies are more likely to experience persistent stagnation. In the short run, credit …

outpaced overall credit growth. Cross-border sources of credit bear watching in view of their record of outgrowing overall …US dollar credit is growing quickly outside the United States, especially in Asia, and in some economies it has … credit in credit booms. Foreign currency and cross-border sources of credit raise policy issues …

This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity-credit …--on average, they occur every five years. By comparison, banking crises take place every eight years on average. Credit reversals …