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Credit, Financial Stability, and the Macroeconomy / Alan M. Taylor.
- Format:
- Book
- Author/Creator:
- Taylor, Alan M.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21039.
- NBER working paper series no. w21039
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- Since the 2008 global financial crisis, and after decades of relative neglect, the importance of the financial system and its episodic crises as drivers of macroeconomic outcomes has attracted fresh scrutiny from academics, policy makers, and practitioners. Theoretical advances are following a lead set by a fast-growing empirical literature. Recent long-run historical work has uncovered a range of important stylized facts concerning financial instability and the role of credit in advanced economies, and this article provides an overview of the key findings.
- Notes:
- Print version record
- March 2015.
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