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Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10011145419

When Credit Bites Back: Leverage, Business Cycles, and Crises

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2011

This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study of the universe of over 200 recession episodes in 14 advanced countries between 1870 and 2008, we document two key facts of the modern business cycle: financial-crisis...

Persistent link: https://www.econbiz.de/10009365001

Sovereigns versus banks: credit, crises, and consequences

Jorda, Oscar; Schularick, Moritz; Taylor, Alan M. - Federal Reserve Bank of San Francisco - 2013

and understudied ways. This paper studies the co-evolution of public and private sector debt in advanced countries since … the expansion of public debt. However, we find evidence that high levels of public debt have tended to exacerbate the …

Persistent link: https://www.econbiz.de/10010728016

Sovereigns versus Banks: Credit, Crises, and Consequences

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2013

Persistent link: https://www.econbiz.de/10011084027

Betting the House

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2014

Persistent link: https://www.econbiz.de/10011105367

The great mortgaging: housing finance, crises, and business cycles

Jorda, Oscar; Schularick, Moritz; Taylor, Alan M. - Federal Reserve Bank of San Francisco - 2014

course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …

Persistent link: https://www.econbiz.de/10011026939

When Credit Bites Back: Leverage, Business Cycles and Crises

Jorda, Oscar; Schularick, Moritz; Taylor, Alan - Economics Department, University of California-Davis - 2012

Persistent link: https://www.econbiz.de/10010581412

The Great Mortgaging: Housing Finance, Crises, and Business Cycles

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2014

course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …

Persistent link: https://www.econbiz.de/10010948836

Sovereigns versus Banks: Credit, Crises, and Consequences

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2013

interact in important and understudied ways. This paper examines the co-evolution of public and private sector debt in advanced … sector credit booms rather than from the expansion of public debt. However, we find evidence that high levels of public debt …) the path of recovery is worse still when a credit-fueled crisis coincides with elevated public debt levels. Recent …

Persistent link: https://www.econbiz.de/10010877944

Going to Extremes: Politics after Financial Crisis, 1870-2014

Funke, Manuel; Schularick, Moritz; Trebesch, Christoph - 2015

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. In this paper we study the political fall-out from systemic...

Persistent link: https://www.econbiz.de/10011388234