Financial Cycles and Credit Growth across Countries

Nuno Coimbra and Helene Rey

AEA Papers and Proceedings, 2018, vol. 108, 509-12

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.

JEL-codes: E32 E44 G21 (search for similar items in EconPapers)
Date: 2018
Note: DOI: 10.1257/pandp.20181059
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Citations: View citations in EconPapers (4)

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Working Paper: Financial Cycles and Credit Growth across Countries (2018)
Working Paper: Financial Cycles and Credit Growth across Countries (2018)
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