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Credit and Business Cycles

Citations

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Cited by:

  1. Amable, Bruno & Chatelain, Jean-Bernard & Ralf, Kirsten, 2010. "Patents as collateral," Journal of Economic Dynamics and Control, Elsevier, vol. 34(6), pages 1092-1104, June.
  2. Francisco J. Buera & Juan Pablo Nicolini, 2020. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(3), pages 110-138, July.
  3. Tomohiro Hirano & Noriyuki Yanagawa, 2010. "Financial Institution, Asset Bubbles and Economic Performance," CIRJE F-Series CIRJE-F-767, CIRJE, Faculty of Economics, University of Tokyo.
  4. Pham, Ngoc-Sang, 2018. "Credit limits and heterogeneity in general equilibrium models with a finite number of agents," MPRA Paper 88736, University Library of Munich, Germany.
  5. Vasilev, Aleksandar, 2021. "Are credit shocks quantitatively important for the propagation of aggregate fluctuations in Bulgaria (1999-2018)?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 27(3), pages 5-20.
  6. Caterina Mendicino, 2005. "Credit Market Development, Asset Prices and Business Cycle," Money Macro and Finance (MMF) Research Group Conference 2005 74, Money Macro and Finance Research Group.
  7. Aubhik Khan & Julia K. Thomas, 2013. "Credit Shocks and Aggregate Fluctuations in an Economy with Production Heterogeneity," Journal of Political Economy, University of Chicago Press, vol. 121(6), pages 1055-1107.
  8. Bricongne, Jean-Charles & Meunier, Baptiste & Pouget, Sylvain, 2023. "Web-scraping housing prices in real-time: The Covid-19 crisis in the UK," Journal of Housing Economics, Elsevier, vol. 59(PB).
  9. Vlieghe, Gertjan W, 2007. "Imperfect credit markets: implications for monetary policy," MPRA Paper 12957, University Library of Munich, Germany.
  10. John Driffill & Marcus Miller, 2013. "Liquidity when it matters: QE and Tobin's q," Oxford Economic Papers, Oxford University Press, vol. 65(suppl_1), pages 115-145, April.
  11. Hirano, Tomohiro & Toda, Alexis Akira, 2024. "Bubble economics," Journal of Mathematical Economics, Elsevier, vol. 111(C).
  12. Barbar, Riham & Bosi, Stefano, 2010. "Collaterals and macroeconomic volatility," Research in Economics, Elsevier, vol. 64(3), pages 146-161, September.
  13. Gromb, Denis & Vayanos, Dimitri, 2002. "Equilibrium and welfare in markets with financially constrained arbitrageurs," Journal of Financial Economics, Elsevier, vol. 66(2-3), pages 361-407.
  14. Caterina Mendicino, 2006. "Credit Market and Macroeconomic Volatility," 2006 Meeting Papers 317, Society for Economic Dynamics.
  15. Sylvia Kaufmann, 2002. "Is there an asymmetric effect of monetary policy over time? A Bayesian analysis using Austrian data," Empirical Economics, Springer, vol. 27(2), pages 277-297.
  16. Wang, Chenguang & Oppedahl, David, 2015. "Low Access to Credit Decreases Asset Prices - Evidence from a Quasi-Experiment in Agriculture," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205127, Agricultural and Applied Economics Association.
  17. Hirano, Tomohiro & Yanagawa, Noriyuki, 2010. "Asset Bubbles, Endogenous Growth, and Financial Frictions," MPRA Paper 24085, University Library of Munich, Germany.
  18. Karfakis, Costas, 2013. "Credit and business cycles in Greece: Is there any relationship?," Economic Modelling, Elsevier, vol. 32(C), pages 23-29.
  19. Annicchiarico, Barbara & Surricchio, Silvia & Waldmann, Robert J., 2019. "A behavioral model of the credit cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 166(C), pages 53-83.
  20. Juan-Carlos Cordoba & Marla Ripoll, 2004. "Credit Cycles Redux," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(4), pages 1011-1046, November.
  21. Aoki, Kosuke & Nikolov, Kalin, 2015. "Bubbles, banks and financial stability," Journal of Monetary Economics, Elsevier, vol. 74(C), pages 33-51.
  22. Björn A. Hauksson, 2005. "Aggregate business fixed investment," Economics wp27_bjorn, Department of Economics, Central bank of Iceland.
  23. Jeffrey R. Campbell & Zvi Hercowitz, 2006. "The macroeconomic transition to high household debt," Proceedings, Federal Reserve Bank of San Francisco, issue Nov.
  24. Thomas Drechsel, 2023. "Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(2), pages 1-34, April.
  25. Campbell, Jeffrey R. & Hercowitz, Zvi, 2009. "Welfare implications of the transition to high household debt," Journal of Monetary Economics, Elsevier, vol. 56(1), pages 1-16, January.
  26. Bruno Amable & Jean-Bernard Chatelain & Kirsten Ralf, 2006. ""Deep Pockets'', Collateral Assignments of Patents, and the Growth of Innovations," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00112518, HAL.
  27. Giorgadze, Tamar & Vasilev, Aleksandar, 2016. "Credit Constraints and Aggregate Economic Activity Over the Business Cycles," EconStor Research Reports 144572, ZBW - Leibniz Information Centre for Economics.
  28. Radovan Vadovic, 2009. "Early, Late, and Multiple Bidding in Internet Auctions," Working Papers 0904, Centro de Investigacion Economica, ITAM.
  29. Zhang, Haiping, 2005. "Limited Pledgeability, Asset Prices, and Macroeconomic Fluctuations," Bonn Econ Discussion Papers 11/2005, University of Bonn, Bonn Graduate School of Economics (BGSE).
  30. Shirai, Daichi, 2016. "Persistence and Amplification of Financial Frictions," MPRA Paper 72187, University Library of Munich, Germany.
  31. Florin Bilbiie & Xavier Ragot, 2021. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 71-95, July.
  32. Francesco Caselli & Nicola Gennaioli, 2013. "Dynastic Management," Economic Inquiry, Western Economic Association International, vol. 51(1), pages 971-996, January.
  33. Fethi Ogunc & Cagri Sarikaya, 2015. "Enflasyonu Aciklamada Kredilerin Bilgi Degeri," CBT Research Notes in Economics 1512, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  34. Jan Vlieghe, 2004. "Imperfect credit markets and the transmission of macroeconomic shocks," Money Macro and Finance (MMF) Research Group Conference 2004 17, Money Macro and Finance Research Group.
  35. Leung, Charles, 2004. "Macroeconomics and housing: a review of the literature," Journal of Housing Economics, Elsevier, vol. 13(4), pages 249-267, December.
  36. Jianjun Miao & Pengfei Wang & Tao Zha, 2020. "Discount Shock, Price–Rent Dynamics, And The Business Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(3), pages 1229-1252, August.
  37. Assenza, Tiziana, 2007. "Borrowing Constraints, Multiple Equilibria and Monetary Policy," MPRA Paper 4049, University Library of Munich, Germany.
  38. David Aikman & Matthias Paustian, 2006. "Bank capital, asset prices and monetary policy," Bank of England working papers 305, Bank of England.
  39. Kunieda, Takuma & Shibata, Akihisa, 2005. "Credit constraints and the current account: A test for the Japanese economy," Journal of International Money and Finance, Elsevier, vol. 24(8), pages 1261-1277, December.
  40. Tomohiro Hirano & Alexis Akira Toda, 2025. "Bubble Necessity Theorem," Journal of Political Economy, University of Chicago Press, vol. 133(1), pages 111-145.
  41. Pham, Ngoc-Sang, 2023. "Some Lectures on Macroeconomics," MPRA Paper 119643, University Library of Munich, Germany.
  42. Rocheteau, Guillaume & Wright, Randall, 2013. "Liquidity and asset-market dynamics," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 275-294.
  43. Giovannoni, Francesco & de Dios Tena, Juan, 2008. "Market concentration, macroeconomic uncertainty and monetary policy," European Economic Review, Elsevier, vol. 52(6), pages 1097-1123, August.
  44. Tiago Pinheiro & Francisco Rivadeneyra & Marc Teignier, 2013. "Financial Development and the Volatility of Income," Staff Working Papers 13-4, Bank of Canada.
  45. Tomohiro Hirano & Noriyuki Yanagawa, 2017. "Asset Bubbles, Endogenous Growth, and Financial Frictions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(1), pages 406-443.
  46. Juan Carlos Cordoba & Marla Ripoll, 2004. "Collateral Constraints in a Monetary Economy," Journal of the European Economic Association, MIT Press, vol. 2(6), pages 1172-1205, December.
  47. Costas Azariadis & Leo Kaas & Yi Wen, 2016. "Self-Fulfilling Credit Cycles," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(4), pages 1364-1405.
  48. Mendicino, Caterina, 2012. "On the amplification role of collateral constraints," Economics Letters, Elsevier, vol. 117(2), pages 429-435.
  49. Shengxing Zhang & Nobuhiro Kiyotaki, 2017. "Intangibles, Inequality and Stagnation," 2017 Meeting Papers 1414, Society for Economic Dynamics.
  50. Hirano, Tomohiro, 2009. "Financial Development and Amplification," MPRA Paper 16907, University Library of Munich, Germany.
  51. Hirano, Tomohiro & Inaba, Masaru & Yanagawa, Noriyuki, 2015. "Asset bubbles and bailouts," Journal of Monetary Economics, Elsevier, vol. 76(S), pages 71-89.
  52. Costas Azariadis & Leo Kaas, 2004. "Endogenous Financial Development and Multiple Growth Regimes," Economic Working Papers at Centro de Estudios Andaluces E2004/08, Centro de Estudios Andaluces.
  53. Zheng Liu & Pengfei Wang & Tao Zha, 2009. "Do credit constraints amplify macroeconomic fluctuations?," Working Paper Series 2009-28, Federal Reserve Bank of San Francisco.
  54. Miller, Marcus & Driffill, John, 2011. "Liquidity When It Matters Most: QE and Tobin?s q," CEPR Discussion Papers 8511, C.E.P.R. Discussion Papers.
  55. Andrés Arias, 2003. "U.S. Business Cycle Volatility And Banking Productivity," Documentos CEDE 3668, Universidad de los Andes, Facultad de Economía, CEDE.
  56. Keiichiro Kobayashi, 2015. "Public Debt Overhang and Economic Growth," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 11(2), pages 247-276, March.
  57. Francisco A. Ramírez de León, 2018. "The Relation Between Credit and Business Cycles in Central America and the Dominican Republic," Investigación Conjunta-Joint Research, in: Alberto Ortiz-Bolaños (ed.), Monetary Policy and Financial Stability in Latin America and the Caribbean, edition 1, volume 1, chapter 4, pages 107-131, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
  58. Lizarazo, Sandra Valentina, 2013. "Default risk and risk averse international investors," Journal of International Economics, Elsevier, vol. 89(2), pages 317-330.
  59. Narayana R. Kocherlakota, 2000. "Creating business cycles through credit constraints," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 24(Sum), pages 2-10.
  60. Jae Sim & Egon Zakrajsek & Simon Gilchrist, 2010. "Uncertainty, Financial Frictions, and Investment Dynamics," 2010 Meeting Papers 1285, Society for Economic Dynamics.
  61. Kazuo Mino, 2016. "Fiscal Policy in a Growing Economy with Financial Frictions and Firm Heterogeneity," The Japanese Economic Review, Japanese Economic Association, vol. 67(1), pages 3-30, March.
  62. Mojmir Hampl & Roman Matousek, 2000. "Credit Contraction in the Czech Republic: Causes and Effects," Archive of Monetary Policy Division Working Papers 2000/19, Czech National Bank.
  63. Jarrow, Robert A., 2014. "Financial crises and economic growth," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(2), pages 194-207.
  64. Liu, Guangling (Dave) & Seeiso, Nkhahle E., 2012. "Basel II procyclicality: The case of South Africa," Economic Modelling, Elsevier, vol. 29(3), pages 848-857.
  65. repec:spo:wpecon:info:hdl:2441/j75mfllkr89c8aod1nr586ksc is not listed on IDEAS
  66. Bruno Biais & Johan Hombert & Pierre-Olivier Weill, 2021. "Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing," American Economic Review, American Economic Association, vol. 111(11), pages 3575-3610, November.
  67. Guangling Dave Liu & Nkhahle E. Seeiso, 2011. "Business Cycle and Bank Capital Regulation: Basel II Procyclicality," Working Papers 221, Economic Research Southern Africa.
  68. Masaya Sakuragawa & Yukie Sakuragawa, 2009. "Land Price, Collateral And Economic Growth," The Japanese Economic Review, Japanese Economic Association, vol. 60(4), pages 473-489, December.
  69. Christophe Chamley & Céline Rochon, 2011. "From Search to Match: When Loan Contracts Are Too Long," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(s2), pages 385-411, October.
  70. Kiminori Matsuyama, 2008. "Aggregate Implications of Credit Market Imperfections," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 1-60, National Bureau of Economic Research, Inc.
  71. Jianjun Miao & Pengfei Wang & Tao Zha, 2014. "Liquidity Premia, Price-Rent Dynamics, and Business Cycles," FRB Atlanta Working Paper 2014-15, Federal Reserve Bank of Atlanta.
  72. Pham, Ngoc-Sang, 2025. "(Non-Monotonic) Effects of Productivity and Credit Constraints on Equilibrium Aggregate Production in General Equilibrium Models with Heterogeneous Producers," MPRA Paper 123394, University Library of Munich, Germany.
  73. repec:hal:spmain:info:hdl:2441/j75mfllkr89c8aod1nr586ksc is not listed on IDEAS
  74. Takuma Kunieda & Akihisa Shibata, 2014. "Credit Market Imperfections and Macroeconomic Instability," Pacific Economic Review, Wiley Blackwell, vol. 19(5), pages 592-611, December.
  75. Atsushi Miyake & Kazunobu Muro, 2022. "Credit market imperfection and goods market deregulation in OLG model," Review of Development Economics, Wiley Blackwell, vol. 26(4), pages 2436-2453, November.
  76. Ngoc‐Sang Pham & Hien Pham, 2021. "Effects of credit limit on efficiency and welfare in a simple general equilibrium model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 17(4), pages 446-470, December.
  77. Francisco Buera & Juan Pablo Nicolini, 2019. "Accounting for the Slow Recovery from the Great Recession: The Role of Credit Constraints," 2019 Meeting Papers 492, Society for Economic Dynamics.
  78. Calza, Alessandro & Manrique, Marta & Sousa, Joao, 2006. "Credit in the euro area: An empirical investigation using aggregate data," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(2), pages 211-226, May.
  79. Toyofuku, Kenta, 2013. "Stability or restructuring? Macroeconomic dynamics under soft budget constraint problems," Economic Systems, Elsevier, vol. 37(4), pages 625-649.
  80. Nikolov, Kalin, 2011. "A model of borrower reputation as intangible collateral," MPRA Paper 32939, University Library of Munich, Germany.
  81. Petra Marotzke, 2011. "Macroeconomic Stability and Wage Inequality: A Model with Credit and Labor Market Frictions," Working Paper Series of the Department of Economics, University of Konstanz 2011-38, Department of Economics, University of Konstanz.
  82. Chung Yi Tse & Charles Ka Yui Leung, 2002. "Increasing Wealth and Increasing Instability: The Role of Collateral," Review of International Economics, Wiley Blackwell, vol. 10(1), pages 45-52, February.
  83. Pei Kuang, 2013. "Imperfect Knowledge about Asset Prices and Credit Cycles," CDMA Working Paper Series 201303, Centre for Dynamic Macroeconomic Analysis.
  84. Dorofeenko, Viktor & Lee, Gabriel S. & Salyer, Kevin D., 2005. "Agency Costs and Investment Behavior," Economics Series 182, Institute for Advanced Studies.
  85. repec:spo:wpmain:info:hdl:2441/j75mfllkr89c8aod1nr586ksc is not listed on IDEAS
  86. Jennifer La'O, 2010. "Collateral Constraints and Noisy Fluctuations," 2010 Meeting Papers 780, Society for Economic Dynamics.
  87. Nobuhiro Kiyotaki & Shengxing Zhang, 2018. "Intangibles, Inequality and Stagnation," Working Papers 2018-15, Princeton University. Economics Department..
  88. Nikolov, Kalin, 2014. "Collateral amplification under complete markets," Journal of Economic Dynamics and Control, Elsevier, vol. 45(C), pages 80-93.
  89. Myftari, Entela & Rossi, Sergio, 2010. "Prix des actifs et politique monétaire : enjeux et perspectives après la crise financière de 2007-2009," L'Actualité Economique, Société Canadienne de Science Economique, vol. 86(3), pages 355-383, septembre.
  90. Jeffrey R. Campbell & Zvi Hercowitz, 2010. "Interest rates following financial re-regulation," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 34(Q I), pages 2-13.
  91. Kurmas Akdogan, 2010. "Foreign Exchange Reserves in a Credit Constrained Economy," Birkbeck Working Papers in Economics and Finance 1014, Birkbeck, Department of Economics, Mathematics & Statistics.
  92. Etro, Federico, 2017. "Research in economics and macroeconomics," Research in Economics, Elsevier, vol. 71(3), pages 373-383.
  93. repec:hal:wpspec:info:hdl:2441/j75mfllkr89c8aod1nr586ksc is not listed on IDEAS
  94. Bogdanyuk, Evgeny (Богданюк, Евгений) & Kiyutsevskaya, Anna (Киюцевская, Анна) & Trunin, Pavel (Трунин, Павел) & Hudko, Elizaveta (Худько, Елизавета), 2017. "Analysis of the Evolution of Global Regulation in Separate Segments of Financial Markets [Анализ Эволюции Глобального Регулирования Отдельных Сегментов Финансовых Рынков]," Working Papers 031702, Russian Presidential Academy of National Economy and Public Administration.
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