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150128 ||| eng |
020 |
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|a 9781455297740
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100 |
1 |
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|a Nkusu, Mwanza
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245 |
0 |
0 |
|a Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies
|c Mwanza Nkusu
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2011
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300 |
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|a 27 pages
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651 |
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4 |
|a United States
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653 |
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|a Money and Monetary Policy
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653 |
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|a Accounting
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653 |
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|a Loans
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653 |
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|a Finance, Public
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653 |
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|a Money Supply
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653 |
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|a Monetary economics
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653 |
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|a Cycles
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653 |
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|a Real Estate
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653 |
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|a Prices
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653 |
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|a Financial institutions
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653 |
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|a Nonperforming loans
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653 |
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|a Mortgages
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653 |
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|a Money
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653 |
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|a Business Fluctuations
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653 |
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|a Financial reporting, financial statements
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653 |
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|a Property & real estate
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653 |
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|a Financial statements
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653 |
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|a Financial Markets and the Macroeconomy
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653 |
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|a Public Administration
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653 |
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|a Housing
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653 |
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|a Micro Finance Institutions
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653 |
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|a Money Multipliers
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653 |
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|a Finance
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653 |
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|a Depository Institutions
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653 |
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|a Credit
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653 |
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|a Housing Supply and Markets
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653 |
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|a Housing prices
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653 |
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|a Industries: Financial Services
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653 |
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|a Banks
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653 |
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|a Public financial management (PFM)
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653 |
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|a Public Sector Accounting and Audits
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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041 |
0 |
7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
0 |
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|a IMF Working Papers
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028 |
5 |
0 |
|a 10.5089/9781455297740.001
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856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2011/161/001.2011.issue-161-en.xml?cid=25026-com-dsp-marc
|x Verlag
|3 Volltext
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082 |
0 |
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|a 330
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520 |
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|a We analyze the link between nonperforming loans (NPL) and macroeconomic performance using two complementary approaches. First, we investigate the macroeconomic determinants of NPL in panel regressions and confirm that adverse macroeconomic developments are associated with rising NPL. Second, we investigate the feedback between NPL and its macroeconomic determinants in a panel vector autoregressive (PVAR) model. The impulse response functions (IRFs) attribute to NPL a central role in the linkages between credit market frictions and macrofinancial vulnerability. They suggest that a sharp increase in NPL triggers long-lived tailwinds that cripple macroeconomic performance from several fronts
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