LEADER 04051nam 2200661 450 001 9910463590503321 005 20180823002313.0 010 $a1-4623-4369-4 010 $a1-4527-2284-6 010 $a1-4518-7019-1 010 $a9786612841125 010 $a1-282-84112-2 035 $a(CKB)3170000000055061 035 $a(EBL)1607934 035 $a(SSID)ssj0000943958 035 $a(PQKBManifestationID)11505877 035 $a(PQKBTitleCode)TC0000943958 035 $a(PQKBWorkID)10982805 035 $a(PQKB)11299459 035 $a(OCoLC)763099184 035 $a(MiAaPQ)EBC1607934 035 $a(EXLCZ)993170000000055061 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 12$aA U.S. financial conditions index $eputting credit where credit is due /$fAndrew Swiston ; authorized for distribution by Tamim Bayoumi 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (37 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/161 300 $aDescription based upon print version of record. 311 $a1-4519-1472-5 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction and Literature Review; II. Building a Better Financial Conditions Index; A. Why VAR and IRF?; B. Whose Lending? Which Standards?; Figures; 1. Lending Standards and GDP Growth; Tables; 1. Lending Standards and Real Activity: Correlations; 2. Lending Standards and Financial Variables: Correlations; 2. Response of GDP to Lending Standards; C. Which Other Variables Enter the Mix?; 3. Response of GDP to Risk-Free Interest Rates; 4. Response of GDP to Default Risk and Volatility; 5. Response of GDP to Asset Prices; 6. Lending Standards and the High Yield Spread 327 $aIII. Financial Conditions and GrowthA. What are the Guts of the FCI?; B. Which Financial Conditions Matter?; 7. Response of GDP to Financial Shocks; 8. Response of Financial Conditions to Lending Standards; C. What Role for Credit Aggregates?; 9. Credit Availability and the Impact of Monetary Policy on Growth; 10. Response of GDP to Credit Aggregates; D. What is the FCI's Contribution to Growth?; 3. Financial Conditions and Real Activity: Correlations and Variance Decompositions; 11. Financial Conditions Index; 12. Financial Shocks and Contributions to the FCI 327 $aE. Where Do Financial Conditions Hit Hardest?13. Individual Contributions to the FCI; 14. Response of Components of Demand to Financial Shocks; F. Can the FCI See Into the Future?; 15. Leading Financial Conditions Index; IV. Conclusions; References 330 $aThis paper gauges the key determinants of China's private consumption in relation to GDP using data on the Chinese economy and evidence from other countries' experiences. The results suggest there is nothing ""special"" about consumption in China. Rather, the challenge is to explain why the conditioning variables-notably a low level of service sector employment, the level of financial sector development, and low real interest rates-are so different in China relative to other countries' historical experience. The results suggest, in particular, that efforts to further raise household income and 410 0$aIMF working paper ;$vWP/08/161. 606 $aLoans$zUnited States$xEconometric models 606 $aCredit$zUnited States$xEconometric models 607 $aUnited States$xEconomic conditions$xEconometric models 608 $aElectronic books. 615 0$aLoans$xEconometric models. 615 0$aCredit$xEconometric models. 676 $a354.2799273 700 $aSwiston$b A$g(Andrew James)$0894441 701 $aBayoumi$b Tamim A$0122763 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463590503321 996 $aA U.S. financial conditions index$92015873 997 $aUNINA