Results 11 to 20 of about 69,050 (264)
Credit Search and Credit Cycles [PDF]
SSRN Electronic Journal, 2015 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Dong, Feng, Wang, Pengfei, Wen, Yi
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Journal of Political Economy, 1995 Abstract This chapter is a theoretical study into how credit constraints interact with aggregate economic activity over the business cycle. In particular, for an economy in which credit limits are endogenously determined, we investigate how relatively small, temporary shocks to technology or income distribution might generate large ...
Nobuhiro Kiyotaki, John Moore
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SSRN Electronic Journal, 2021 We embed diagnostic expectations in a workhorse neoclassical model with heterogeneous firms and risky debt. A realistic degree of overreaction estimated from US firms’ earnings forecasts generates realistic credit cycles. Good times produce economic and financial fragility, predicting future disappointment of expectations, low bond returns, and ...
Bordalo, Pedro +3 more
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Endogenous Credit Cycles [PDF]
, 2011 We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including some that display deterministic cyclic and chaotic dynamics.
Chao Gu, Randall Wright
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Business, housing, and credit cycles [PDF]
Journal of Applied Econometrics, 2016 SummaryWe use multivariate unobserved components models to estimate trend and cyclical components in gross domestic product (GDP), credit volumes, and house prices for the USA and the five largest European economies. With the exception of Germany, we find large and long cycles in credit and house prices, which are highly correlated with a medium‐term ...
Rünstler, Gerhard, Vlekke, Marente
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Bank wholesale funding and credit procyclicality: Evidence from Korea [PDF]
Panoeconomicus, 2013 Credit procyclicality has recently been the focus of considerable attention, but what fuels the often excessive credit growth is rarely questioned.
Jeong Sangjun, Jung Hueechae
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Diagnostic Expectations and Credit Cycles [PDF]
The Journal of Finance, 2018 ABSTRACTWe present a model of credit cycles arising from diagnostic expectations—a belief formation mechanism based on Kahneman and Tversky's representativeness heuristic. Diagnostic expectations overweight future outcomes that become more likely in light of incoming data. The expectations formation rule is forward looking and depends on the underlying
BORDALO, PEDRO +2 more
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Tightening Financial Regulation: The Impact on the Credit Cycle in the USA
Мир новой экономики, 2019 The credit cycle is one of the most important elements of the business cycle. Credit expansion after the crisis is one of the key ways of economic recovery. The tightening of financial regulation in response to the crisis of 2007–2008 largely slowed down
A. V. Podrugina
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Credit cycles and macro fundamentals [PDF]
Journal of Empirical Finance, 2009 We use an intensity-based framework to study the relation between macroeconomic fundamentals and cycles in defaults and rating activity. Using Standard and Poor's U.S. corporate rating transition and default data over the period 1980-2005, we directly estimate the default and rating cycle from micro data.
Koopman, Siem Jan +3 more
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ASEAN CREDIT GROWTH AND ASSET PRICE RESPONSE TO GLOBAL FINANCIAL CYCLE
Buletin Ekonomi Moneter dan Perbankan, 2017 An upsurge and volatility of capital flows to Emerging Asian Economies indicated that there is the potential effect of global financial cycle to emerging market.
Sri Andaiyani, Telisa Aulia Falianty
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