All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

 
Youssef Ghallada, Alexandre Girard and Kim Oosterlinck
 
''Crises, credit booms and monetary regime''
( 2021, Vol. 41 No.3 )
 
 
In theory credit booms, and the crises associated to these booms, should occur more frequently in Fiat monetary regimes than in regimes, such as the Gold Standard, where money creation is constrained. In this note, we investigate whether the importance of the credit boom factor, as an early warning indicator (EWI) of systemic financial crises, varies across monetary regimes for a sample of 17 developed countries over the 1870-2016 period. We find no evidence of a difference between monetary regime for credit-driven crises and this both for the occurrence and the severity of crises.
 
 
Keywords: Crises Determinants, Early Warning Indicator (EWI), Financial Crises, Monetary Regimes, Boom and Bust Cycles
JEL: E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General
N1 - Economic History: Macroeconomics and Monetary Economics; Growth and Fluctuations: General, International, or Comparative
 
Manuscript Received : Jan 05 2021 Manuscript Accepted : Sep 17 2021

  This abstract has been downloaded 93 times                The Full PDF of this paper has been downloaded 137002 times