Discerning Good from Bad Credit Booms The Role of Construction

Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite a large and growing body of literature, most of the work has focused on aggregate economic activity,...

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Bibliographic Details
Main Author: Dell'Ariccia, Giovanni
Other Authors: Ebrahimy, Ehsan, Igan, Deniz, Puy, Damien
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:Staff Discussion Notes
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Discerning Good from Bad Credit Booms  |b The Role of Construction  |c Giovanni Dell'Ariccia, Ehsan Ebrahimy, Deniz Igan, Damien Puy 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2020 
300 |a 36 pages 
651 4 |a United States 
653 |a Depository Institutions 
653 |a Credit 
653 |a Consumer credit 
653 |a Real Estate 
653 |a Banks 
653 |a Labour; income economics 
653 |a Employment; Economic theory 
653 |a Monetary economics 
653 |a Housing Supply and Markets 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Micro Finance Institutions 
653 |a Aggregate Labor Productivity 
653 |a Unemployment 
653 |a Housing; Prices 
653 |a Mortgages 
653 |a Aggregate Human Capital 
653 |a Money 
653 |a Labor 
653 |a Property & real estate 
653 |a Cycles 
653 |a Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) 
653 |a Prices 
653 |a Wages 
653 |a Business Fluctuations 
653 |a Credit booms 
653 |a Intergenerational Income Distribution 
653 |a Money and Monetary Policy 
653 |a Housing prices 
653 |a Employment 
653 |a Financial Crises 
700 1 |a Ebrahimy, Ehsan 
700 1 |a Igan, Deniz 
700 1 |a Puy, Damien 
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520 |a Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite a large and growing body of literature, most of the work has focused on aggregate economic activity, and relatively little is known about which industries benefit and which suffer during these episodes. This note aims to fill this gap by analyzing disaggregated output and employment data in a large sample of advanced and emerging market economies between 1970 and 2014