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What Happens During Recessions, Crunches and Busts?

What Happens During Recessions, Crunches and Busts? »

Source: What Happens During Recessions, Crunches and Busts?

Volume/Issue: 2008/274

Series: IMF Working Papers

Author(s): Marco Terrones , Ayhan Kose , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

ISBN: 9781451871326

Keywords: credit crunches, house prices, busts, recession, business cycle,

We provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the period 1960-2007. In parti...

Financial Crisis and Credit Crunch in Korea

Financial Crisis and Credit Crunch in Korea »

Source: Financial Crisis and Credit Crunch in Korea : Evidence From Firm-Level Data

Volume/Issue: 2000/25

Series: IMF Working Papers

Author(s): Jong-Wha Lee , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2000

ISBN: 9781451844252

Keywords: Korea, credit crunch, bank credit, bank borrowing, bank lending, financial sector, bank loans

This paper analyzes the credit crunch following the recent financial crisis in Korea. Using enterprise-level data, we find that there were big differences in the magnitude of the credit contraction across different...

Banks' Precautionary Capital and Persistent Credit Crunches

Banks' Precautionary Capital and Persistent Credit Crunches »

Source: Banks' Precautionary Capital and Persistent Credit Crunches

Volume/Issue: 2008/248

Series: IMF Working Papers

Author(s): Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

ISBN: 9781451871067

Keywords: Financial Frictions, Credit Crunch, Dynamic Programming, bank capital, recapitalization, credit market, stockholders,

Periods of banking distress are often followed by sizable and long-lasting contractions in bank credit. They may be explained by a declined demand by financially impaired borrowers (the conventional financial accel...

Creditless Recoveries1

Creditless Recoveries1 »

Source: Creditless Recoveries

Volume/Issue: 2011/58

Series: IMF Working Papers

Author(s): Abdul Abiad , Giovanni Dell'Ariccia , and Bin Li

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455221028

Keywords: Credit cycles, credit crunch, financial dependence, banking, banking crises, recessions, recession, Financial Markets and the Macroeconomy,

Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet these are not rare animals, and are not always miracles. About one out of five recoveries is "...

East Asia in the Aftermath

East Asia in the Aftermath »

Source: East Asia in the Aftermath : Was there a Crunch?

Volume/Issue: 1999/38

Series: IMF Working Papers

Author(s): Atish Ghosh , and Swart Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1999

ISBN: 9781451845679

Keywords: Credit crunch, East Asia Currency Crises, capital adequacy, banking, banking system, banking system liabilities

This paper uses a disequilibrium framework to investigate a possible credit crunch in the East Asian crisis countries (Indonesia, Korea, and Thailand) during 1997-98. It defines a credit crunch as a situation in wh...

In Search of "Capital Crunch"

In Search of "Capital Crunch" »

Source: In Search of "Capital Crunch" : Supply Factors Behind the Credit Slowdown in Japan

Volume/Issue: 1999/3

Series: IMF Working Papers

Author(s): David Woo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1999

ISBN: 9781451841886

Keywords: Japanese Banks, Credit Crunch, Bank Capitalization, capital adequacy, capital ratio, bank capital, capital gains, banking

The seeming failure of loose monetary policy to reactivate Japan’s economy has led some observers to suggest that the usual credit channels through which monetary policy affects the real economy are blocked,...

Inside the Crisis

Inside the Crisis »

Source: Inside the Crisis : An Empirical Analysis of Banking Systems in Distress

Volume/Issue: 2000/156

Series: IMF Working Papers

Author(s): Poonam Gupta , Asli Demirgüç-Kunt , and Enrica Detragiache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2000

ISBN: 9781451857399

Keywords: Banking crises, bank runs, credit crunch, banking, deposit insurance, banking crisis

Using aggregate and bank level data for several countries, the paper studies what happens to the banking system in the aftermath of a banking crisis. Contemporary crises are not accompanied by declines in aggregate...

How Do Business and Financial Cycles Interact?

How Do Business and Financial Cycles Interact? »

Source: How Do Business and Financial Cycles Interact?

Volume/Issue: 2011/88

Series: IMF Working Papers

Author(s): Marco Terrones , Ayhan Kose , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

ISBN: 9781455233168

Keywords: Credit crunches, asset busts, booms, recoveries, financial crises., recession, financial cycles, financial crisis,

This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest...

Modeling with Macro-Financial Linkages

Modeling with Macro-Financial Linkages »

Source: Modeling with Macro-Financial Linkages : Credit and Policy Shocks in Emerging Markets

Volume/Issue: 2009/123

Series: IMF Working Papers

Author(s): Jaromir Benes , Inci Ötker , and David Vávra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872705

Keywords: macro-financial linkages, modeling, policy analysis, financial frictions, credit growth, credit crunch, bank loans, bank lending, banking, bank credit

This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in...

Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation-with Reference to the Asian Financial Crisis

Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation-with Reference to the Asian Financial Crisis »

Source: Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation-with Reference to the Asian Financial Crisis

Volume/Issue: 1998/127

Series: IMF Working Papers

Author(s): Zhaohui Chen , and Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1998

ISBN: 9781451935998

Keywords: Asian crisis, credit crunch, financial intermediary, capital flow, capital inflow inertia, capital inflow, capital outflow, capital flows

This paper develops a model of private debt financing under inefficient financial intermediation. It suggests a mechanism that can generate the following sequence of events observed in the recent Asian crisis: A pe...