When Credit Bites Back

By Ò. Jordà, M. Schularick, Alan M. Taylor. 2013

906 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/f3af4b4ecbb40833acb9e884908e94db51aaa944

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Citations in the corpus

Capital flows and the international credit channel (2017, background): “Other paper focusing on the importance of international bank linkages in the cross-border transmission of shocks include Peek and Rosengren (2000); Cetorelli and Goldberg (2011, 2012); Schnabl (2012); Claessens and van Horen (2013); de Haas and van Horen (2013); Kalemli-Özcan et al. (2013a,b); de Ha”
Diagnostic Expectations and Credit Cycles (2018, neutral): “Jorda, Schularick, and Taylor (2013) further find that more credit-intensive expansions are followed by deeper recessions.”
Monetary Policy, Financial Conditions, and Financial Stability (2014, neutral): “Jordà, Schularick, and Taylor (2013), in a cross-section study, show that excess credit growth in the period preceding a business-cycle peak tends to be associated with more severe recessions, in both normal recessions and those associated with financial crises.”
Bank Capital Redux: Solvency, Liquidity, and Crisis (2017, neutral): “Schularick and Taylor (2012), and the updated series in Jordà et al. (2017) focused on the asset side of bank balance sheets (and on macroeconomic aggregates).”
The Term Structure of Growth-at-Risk (2018, positive): “…the nonfinancial credit gap for recessions in cross-country estimations (Borio and Lowe, 2002), and studies find that asset prices and credit growth are useful predictors of recessions (Schularick and Taylor, 2012) and significantly weaker economic recoveries (Jorda, Schularick, and Taylor, 2013).”
Dating systemic financial stress episodes in the EU countries (2017, background): “In addition, according to Jorda et al. (2013), the magnitude of output losses is much larger during recessions coinciding with financial market stress than during ordinary recessions.”
Credit-Market Sentiment and the Business Cycle (2017, neutral): “…of theories, much of the empirical work has focused on balance-sheet measures of leverage or credit growth, such as the growth of bank loans (Schularick and Taylor, 2012; Jordà, Schularick, and Taylor, 2013; Baron and Xiong, 2016) or the growth of household debt (Mian, Sufi, and Verner, 2016).”
Macrofinancial History and the New Business Cycle Facts (2016, methodology): “Our previous research (Schularick and Taylor 2012; Jordà, Schularick, and Taylor 2011, 2013, 2016a, 2016b) uncovered a key stylized fact of modern macroeconomic history that we may call the “financial hockey stick.””