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We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic e

What are the stylized facts that characterize the dynamics of credit booms and the associated fluctuations in macro-economic aggregates? This paper answers this

This note explores the costs and benefits of different policy options to reduce the risks associated with credit booms, drawing upon several country experiences

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma

An indepth look at the origins and development of the current financial crisis, from an economist and Washington insider. Jarsulic explains how a wide array of