Series: IMF Working Papers
Author(s): Ludvig Söderling
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2008
Keywords: Credit growth, business cycle, panel VAR, terms of trade shocks, trade shocks, financial stability, competitive pressure,
This paper analyzes the determinants of credit cyclicality. It constructs a financial development index and studies whether it affects the amplitude of impulse responses to shocks to output, terms of trade, global...