Do Credit Shocks Matter? : A Global Perspective /

This paper examines the importance of credit market shocks in driving global business cycles over the period 1988:1-2009:4. We first estimate common components in various macroeconomic and financial variables of the G-7 countries. We then evaluate the role played by credit market shocks using a seri...

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Bibliographic Details
Main Author: Helbling, Thomas
Other Authors: Huidrom, Raju, Kose, Ayhan, Otrok, Christopher
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2010.
Series:IMF Working Papers; Working Paper ; No. 2010/261
Online Access:Full text available on IMF
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245 1 0 |a Do Credit Shocks Matter? :   |b A Global Perspective /  |c Thomas Helbling, Ayhan Kose, Christopher Otrok, Raju Huidrom. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a This paper examines the importance of credit market shocks in driving global business cycles over the period 1988:1-2009:4. We first estimate common components in various macroeconomic and financial variables of the G-7 countries. We then evaluate the role played by credit market shocks using a series of VAR models. Our findings suggest that these shocks have been influential in driving global activity during the latest global recession. Credit shocks originating in the United States also have a significant impact on the evolution of world growth during global recessions. 
538 |a Mode of access: Internet 
700 1 |a Huidrom, Raju. 
700 1 |a Kose, Ayhan. 
700 1 |a Otrok, Christopher. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2010/261 
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