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Annual Conference

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International Macroeconomics, Money & Banking

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May 2022

Credit Allocation and Macroeconomic Fluctuations

Karsten MULLER, Emil VERNER
We study the relationship between credit expansions, macroeconomic fluctuations, and financial crises using a novel database on the sectoral distribution of private credit for 117 countries starting in 1940. Theory predicts that the sectoral allocation of credit matters for distinguishing between �...
Keywords: credit booms, credit allocation, growth, banking crises
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