Do Debt Service Costs Affect Macroeconomic and Financial Stability

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Operationalising the Countercyclical Capital Buffer: Indicator Selection, Threshold Identification and Calibration Options (2014, methodology): “These include credit-related variables other than the credit-to-GDP gap such as credit growth (Repullo and Saurina, 2011 and Schularick and Taylor, 2012, among others); debt service ratios (Drehmann and Juselius, 2012); other macroeconomic and macro-financial variables, such as GDP growth, the consu”
Evaluating early warning indicators of banking crises: Satisfying policy requirements (2014, background): “For this reason, Drehmann (2012) simulates the policy trade-offs for reasonable parameterisations of the costs and benefits of macroprudential policy measures.”