The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and financial variables during the business cycle can lead to negative and long-lasting consequences for the economy. A key feature of the past global crisis in many countries is that the recovery in aggregate output has not been accompanied by a contemporary pick-up in lending flows to the private sector, rendering the recovery credit-less. This paper uses data on output and credit to study the relative roles of demand and supply drivers of credit growth during economic recoveries on a sample of advanced and emerging countries between 1980 and 2014. Using a simple endowment economy model, the paper shows that credit-less recoveries are correlate...
Recoveries that occur in the absence of credit growth are often dubbed miracles and named after myth...
This paper studies the behavior of recoveries from recessions across 59 advanced and emerging market...
A large body of the literature on finance and economic growth has been devoted to the impact of fin...
The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and ...
The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and ...
The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and ...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
Recoveries that occur in the absence of credit growth are often dubbed miracles and named after myth...
This paper studies the behavior of recoveries from recessions across 59 advanced and emerging market...
A large body of the literature on finance and economic growth has been devoted to the impact of fin...
The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and ...
The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and ...
The recovery from the global crisis that erupted in 2007 shows that the decoupling between real and ...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
International audienceThe Great Recession has generated renewed interest in the phenomenon of credit...
The Great Recession has generated renewed interest in the phenomenon of creditless recoveries. This ...
Recoveries that occur in the absence of credit growth are often dubbed miracles and named after myth...
This paper studies the behavior of recoveries from recessions across 59 advanced and emerging market...
A large body of the literature on finance and economic growth has been devoted to the impact of fin...