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Private Sector Deleveraging and Growth Following Busts

Private Sector Deleveraging and Growth Following Busts »

Source: Private Sector Deleveraging and Growth Following Busts

Volume/Issue: 2015/35

Series: IMF Working Papers

Author(s): Sally Chen , Minsuk Kim , Marijn Otte , Kevin Wiseman , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

ISBN: 9781498333405

Keywords: deleveraging, leverage cycles, growth, debt, balance sheet, debt overhang, markets, Models with Panel Data,

Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private s...

Are House Prices Rising Too Fast in China?

Are House Prices Rising Too Fast in China? »

Source: Are House Prices Rising Too Fast in China?

Volume/Issue: 2010/274

Series: IMF Working Papers

Author(s): Ashvin Ahuja , Lillian Cheung , Gaofeng Han , Nathan Porter , and Wenlang Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

ISBN: 9781455210817

Keywords: House price, price misalignment, leverage cycle, mortgage, real estate, land sales, mortgage loan, mortgage interest,

Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of hou...

Bailing Out the People? When Private Debt Becomes Public

Bailing Out the People? When Private Debt Becomes Public »

Source: Bailing Out the People? When Private Debt Becomes Public

Volume/Issue: 2018/141

Series: IMF Working Papers

Author(s): Samba Mbaye , Marialuz Moreno Badia , and Kyungla Chae

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

ISBN: 9781484361658

Keywords: Public debt, deleveraging, private debt, leverage cycles, bailout, Financial Markets and the Macroeconomy, International Lending and Debt Problems, International Business Cycles, General, International

This paper documents a form of private sector bailout that is much more common (and yet unnoticed) than the typical bank bailout. Building on the newly-created Global Debt Database, we show that excess private debt...

Financial Sector Debt Bias1

Financial Sector Debt Bias1 »

Source: Financial Sector Debt Bias

Volume/Issue: 2016/217

Series: IMF Working Papers

Author(s): Oana Luca , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 November 2016

ISBN: 9781475552805

Keywords: Banks, Financial stability, Financial sector, Tax bias, Debt bias, Leverage, Non-Banks, Oil prices, equity prices, dividends

Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect financial stability. This paper models and estimates debt bias in the financial sector, and presen...

Private Sector Deleveraging and Growth Following Busts

Private Sector Deleveraging and Growth Following Busts »

Volume/Issue: 2015/35

Series: IMF Working Papers

Author(s): Sally Chen , Minsuk Kim , Marijn Otte , Kevin Wiseman , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2015

DOI: http://dx.doi.org/10.5089/9781498333405.001

ISBN: 9781498333405

Keywords: deleveraging, leverage cycles, growth, debt, balance sheet, debt overhang, markets, Models with Panel Data,

Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private s...

Are House Prices Rising Too Fast in China?

Are House Prices Rising Too Fast in China? »

Volume/Issue: 2010/274

Series: IMF Working Papers

Author(s): Ashvin Ahuja , Lillian Cheung , Gaofeng Han , Nathan Porter , and Wenlang Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

DOI: http://dx.doi.org/10.5089/9781455210817.001

ISBN: 9781455210817

Keywords: House price, price misalignment, leverage cycle, mortgage, real estate, land sales, mortgage loan, mortgage interest,

Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of hou...

Bailing Out the People? When Private Debt Becomes Public

Bailing Out the People? When Private Debt Becomes Public »

Volume/Issue: 2018/141

Series: IMF Working Papers

Author(s): Samba Mbaye , Marialuz Moreno Badia , and Kyungla Chae

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

DOI: http://dx.doi.org/10.5089/9781484361658.001

ISBN: 9781484361658

Keywords: Public debt, deleveraging, private debt, leverage cycles, bailout, Financial Markets and the Macroeconomy, International Lending and Debt Problems, International Business Cycles, General, International

This paper documents a form of private sector bailout that is much more common (and yet unnoticed) than the typical bank bailout. Building on the newly-created Global Debt Database, we show that excess private debt...

Financial Sector Debt Bias

Financial Sector Debt Bias »

Volume/Issue: 2016/217

Series: IMF Working Papers

Author(s): Oana Luca , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 November 2016

DOI: http://dx.doi.org/10.5089/9781475552805.001

ISBN: 9781475552805

Keywords: Banks, Financial stability, Financial sector, Tax bias, Debt bias, Leverage, Non-Banks, Oil prices, equity prices, dividends

Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect financial stability. This paper models and estimates debt bias in the financial sector, and presen...