Credit and business cycles in Greece: Is there any relationship?

Costas Karfakis

Economic Modelling, 2013, vol. 32, issue C, 23-29

Abstract: This paper examines the relationship between real output and real credit at business-cycle frequencies in Greece. The Granger causality tests indicate that real credit is important to understanding future movements in real output, given the trade deficit ratio. The impulse response analysis implies that the recovery of the Greek economy requires a positive credit shock which will stimulate real output.

Keywords: Real output; Business cycles; Real credit; Granger causality test; VAR analysis (search for similar items in EconPapers)
JEL-codes: E32 E51 E52 E58 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (11)

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Working Paper: Credit and Business Cycles in Greece: Is there any relationship? (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:32:y:2013:i:c:p:23-29

DOI: 10.1016/j.econmod.2013.01.036

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