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The eurozone crisis: phoenix miracle or lost decade?
Eichengreen, Barry; Jung, Naeun; Moch, Stephen; Mody, Ashoka - Bank of Greece - 2013
We analyze why the Eurozone crisis increasingly resembles Latin America’s lost decade instead of Asia’s phoenix miracle, emphasizing the roles of the real exchange rate, the external environment, and debt restructuring. In addition, we contrast the adjustment to housing bubbles in Ireland,...
Persistent link: https://www.econbiz.de/10011119781
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The Eurozone Crisis: Phoenix Miracle or Lost Decade?
Eichengreen, Barry; Jung, Naeun; Moch, Stephen; Mody, Ashoka - In: Journal of Macroeconomics 39 (2014) PB, pp. 288-308
We analyze why the Eurozone crisis increasingly resembles Latin America’s lost decade instead of Asia’s phoenix miracle, emphasizing the roles of the real exchange rate, the external environment, and debt restructuring. In addition, we contrast the adjustment to housing bubbles in Ireland,...
Persistent link: https://www.econbiz.de/10010786705
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The countercyclical capital buffer and the composition of bank lending
Auer, Raphael A.; Ongena, Steven - 2019
question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …
Persistent link: https://www.econbiz.de/10012064522
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The countercyclical capital buffer and the composition of bank lending
Auer, Raphael A.; Matyunina, Alexandra; Ongena, Steven - 2021
question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …
Persistent link: https://www.econbiz.de/10012643066
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Exploring the Steady-State Relationship between Credit and GDP for a Small Open Economy - The Case of Ireland
Kelly, Robert; McQuinn, Kieran; Stuart, Rebecca - Central Bank of Ireland - 2011
The rapid increase in credit in an economy is now commonly perceived to be one of the leading in- dicators of financial … key policy response has been to focus on the ratio of private sector credit to GDP for an economy, observing, in … steady-state relationship between private sector credit and GDP in the case of Ireland, a country which, even by …
Persistent link: https://www.econbiz.de/10008873354
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Credit booms, banking crises, and the current account
Davis, Jonathan Scott; Mack, Adrienne; Phoa, Wesley; … - Federal Reserve Bank of Dallas - 2014
What is the marginal effect of an increase in the private sector debt-to-GDP ratio on the probability of a banking crisis? This paper shows that the marginal effect of rising debt levels depends on an economy's external position. When the current account is in surplus or in balance, the marginal...
Persistent link: https://www.econbiz.de/10010772610
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Exploring the steady-state relationship between credit and GDP for a small open economy: the case of Ireland
Kelly, Robert; McQuinn, Kieran; Stuart, Rebecca - 2013
The rapid increase in credit in an economy is now commonly perceived to be one of the leading indicators of financial … policy response has been to focus on the ratio of private sector credit to GDP for an economy, observing, in particular …-state relationship between private sector credit and GDP in the case of Ireland, a country which, even by international standards …
Persistent link: https://www.econbiz.de/10011605576
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Shifting horizons: assessing macro trends before, during, and following systemic banking crises
Schudel, Willem - 2015
global credit gap, while global credit growth consistently and significantly increases the probability of a future banking …
Persistent link: https://www.econbiz.de/10011605811
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Macroeconomic factors behind financial instability: Evidence from Granger causality tests
Behringer, Jan; Stephan, Sabine; Theobald, Thomas - 2017
of other determinants of expansions in credit to income and test whether the causal relationships are sensitive to … different measures of credit. We find that top income shares significantly affect future credit to income of the private … household sector. The test statistics reveal that the effect of top income shares is weaker for bank credit to the private non …
Persistent link: https://www.econbiz.de/10011984246
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The Countercyclical Capital Buffer and the Composition of Bank Lending
Auer, Raphael A.; Ongena, Steven - 2019
question, we identify the compositional changes in banks’ supply of credit using the variation in their holdings of residential …
Persistent link: https://www.econbiz.de/10012141016