LEADER 05769oam 22010094 450 001 9910810968203321 005 20200520144314.0 010 $a1-4623-2753-2 010 $a1-282-84177-7 010 $a1-4518-7084-1 010 $a9786612841774 010 $a1-4527-1578-5 035 $a(CKB)3170000000055098 035 $a(SSID)ssj0001473509 035 $a(PQKBManifestationID)11838901 035 $a(PQKBTitleCode)TC0001473509 035 $a(PQKBWorkID)11449722 035 $a(PQKB)11357142 035 $a(OCoLC)461340606 035 $a(IMF)WPIEE2008226 035 $a(NBER)w14049 035 $a(MiAaPQ)EBC1586698 035 $a(IMF)WPIEA2008226 035 $a(EXLCZ)993170000000055098 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 13$aAn Anatomy of Credit Booms : $eEvidence From Macro Aggregates and Micro Data /$fMarco Terrones, Enrique Mendoza 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (52 pages) $cillustrations (some color) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/226 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a1-4519-1537-3 320 $aIncludes bibliographical references. 327 $aIntro -- Contents -- I. Introduction -- II. Credit Booms: Methodology and Key Features -- A. Methodology -- B. Credit Boom Episodes and Their Main Features -- C. Differences with the Method of Gourinchas, Valdes and Landerretche -- III. Credit Booms and Macroeconomic Dynamics -- A. Event Analysis -- B. Frequency Analysis -- IV. Credit Booms and Firm Level Data -- A. Firm-level Indicators -- B. Bank-level Indicators -- V. Conclusions -- Tables -- 1. Credit Booms: Duration -- 2. Coincidence of Credit Booms with Output and Demand Booms -- 3. Credit Booms: Statistical Significance of Event-Window Coefficients -- 4. Credit Booms: Regional Features -- 5. Credit Booms and Crises -- 6. Credit Booms: Potential Triggering Factors -- 7. Credit Booms and Exchange Rate Regimes -- Figures -- 1. Credit Booms: Seven-Year Event Windows -- 2. Relative Credit Booms -- 3. Frequent of Credit Booms -- 4. Credit Booms in Chile: The Mendoza-Terrones Method -- 5. Credit Booms in Chile: The Gourinchas, Valdes, and Landeretche (CVL) Method -- 6. Credit Booms in Chile: Expanding vs. Conventional Trend -- 7. Credit Booms and Economic Activity -- 8. Credit Booms and Domestic Demand -- 9. Credit Booms and The Non-Tradables Sector -- 10. Credit Booms, Current Account, and Capital Inflows -- 11. Credit Booms and Prices -- 12. Credit Booms: Corporate Leverage -- 13. Credit Booms: Tobin's Q, Interest Rate, and Profitability -- 14. Credit Booms: Corporate External Financing -- 15. Credit Booms: Financial Indicators -- 16. Credit Booms: Corporate Leverage and External Financing in Emerging Market Countries -- 17. Credit Booms: Bank Level Data Emerging Market Economies -- Appendix -- I. Sample of Countries -- II. Data Definitions and Sources -- III. The Gourinchas-Valdes-Landerretche Thresholds Method -- References. 330 3 $aWe study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also find that credit booms are larger in emerging economies, particularly in the nontradables sector; most emerging markets crises are associated with credit booms; and credit booms in emerging economies are often preceded by large capital inflows but not by financial reforms or productivity gains. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/226 606 $aCredit$xEconometric models 606 $aBusiness cycles$xEconometric models 606 $aCapital inflows$2imf 606 $aCapital movements$2imf 606 $aCredit booms$2imf 606 $aCredit$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aExports and Imports$2imf 606 $aFinancial Crises$2imf 606 $aFinancial crises$2imf 606 $aFinancial Risk Management$2imf 606 $aInternational economics$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aSudden stops$2imf 607 $aChile$2imf 615 0$aCredit$xEconometric models. 615 0$aBusiness cycles$xEconometric models. 615 7$aCapital inflows 615 7$aCapital movements 615 7$aCredit booms 615 7$aCredit 615 7$aEconomic & financial crises & disasters 615 7$aExports and Imports 615 7$aFinancial Crises 615 7$aFinancial crises 615 7$aFinancial Risk Management 615 7$aInternational economics 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aMonetary economics 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMoney and Monetary Policy 615 7$aSudden stops 676 $a332.7 700 $aTerrones$b Marco$01084776 701 $aMendoza$b Enrique$0119545 801 0$bDcWaIMF 906 $aBOOK 912 $a9910810968203321 996 $aAn Anatomy of Credit Booms$94070695 997 $aUNINA