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Catching up or drifting apart: convergence of household and business credit in Europe
We provide evidence for convergence in the levels of household and business credit across European countries. The process is particularly strong for the transition countries that have a low initial level of private credit ...
Credit decomposition and business cycles in emerging market economies
This paper analyzes the differential effects of household and business credit dynamics on business cycles in emerging market economies. We first provide evidence that existing results relating credit expansions to economic ...
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