-2009 output collapse. To this end, we use three variables: credit stock, credit flow and money supply M1. We find that the changes … in the credit flow, as percentage of GDP, are the most distinctly correlated with the GDP rate. During the growth … recovery, the credit flow tends to rise in six of the surveyed countries, although the credit stock declines in some cases. On …

-2009 output collapse. To this end, we use three variables: credit stock, credit flow and money supply M1. We find that the changes … in the credit flow, as percentage of GDP, are the most distinctly correlated with the GDP rate. During the growth … recovery, the credit flow tends to rise in six of the surveyed countries, although the credit stock declines in some cases. On …

changes in financial intermediaries' balance sheets for the supply of credit, liquidity and asset prices, and, consequently …

beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in … the short-term popularity benefits of weak credit booms rather than implementing politically costly corrective policies …

others blow over. We demonstrate that what makes some bubbles more dangerous than others is credit. When fueled by credit … slower recoveries. Credit-financed housing price bubbles have emerged as a particularly dangerous phenomenon. …

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 …

credit register from Spain, with the time of a loan application and its granting. When VIX is lower (booms), banks shorten …

This paper studies the relation between the credit-to-GDP ratio and macroeconomic trends. We estimate a long run … equation on a sample of EU countries; our findings suggest that the macroeconomic factors with which the credit ratio … past and future trends. First, we study the evolution of the credit ratio in the past. We find that most of the increase …