Default, Credit Growth, and Asset Prices
| Author/creator | Goodhart, C. A. E. Author |
| Other author | Basurto, Miguel A. Segoviano Author |
| Other author | Hofmann, Boris Author |
| Format | Electronic |
| Publication Info | Washington : International Monetary Fund |
| Description | 53 p. |
| Supplemental Content | Full text available from Ebook Central - Academic Complete |
| Summary | Annotation This paper uses a Merton-type estimate of the probability of default (PoD) for the main banks in a sample of Organization for Economic Cooperation and Development and middle-income countries as a proxy for the fragility of their banking systems. Based on theory and stylized facts, the paper explores a range of financial and real variables that explain such PoDs across time. We find property price fluctuations and bank credit to be important explanatory factors. There is two-way interaction between these variables and a clearer relationship when the variables are entered as a deviation from trend. the lag structure between such developments and PoDs is long and varies widely across countries. the paper assesses the implications of these findings for economic policy. |
| Access restriction | Available only to authorized users. |
| Technical details | Mode of access: World Wide Web |
| Genre/form | Electronic books. |
| ISBN | 9781451909364 |
| ISBN | 1451909365 (E-Book) Active Record |
| Stock number | 00013468 |
Availability
| Library | Location | Call Number | Status | Item Actions |
|---|---|---|---|---|
| Electronic Resources | Access Content Online | ✔ Available |