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Financial cycles and credit growth across countries

Journal

AEA papers and proceedings

Subject

Economics

Publishing details

AEA papers and proceedings 2018 Vol 108 p 509-512

Authors / Editors

Coimbra N;Rey H

Biographies

Helene Rey

Publication Year

2018

Abstract

In Coimbra and Rey (2017) we develop a dynamic macroeconomic model with heterogeneous financial intermediaries and endogenous entry. It features time-varying endogenous macroeconomic risk that arises from the risk-shifting behavior of financial intermediaries. We test empirically in a broad panel of countries the implication that credit creation is more elastic to funding costs when the distribution of leverage in the banking system is more positively skewed.

Available on ECCH

No


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