Understanding the credit cycle and business cycle dynamics in India

Business Cycle Features In The Iranian Economy

Credit Spreads and Business Cycle Fluctuations

We re-examine the evidence on the relationship between credit spreads and economic activity, by constructing a credit spread index based on an extensive micro-level data set of secondary market prices of outstanding senior unsecured corporate bonds over the 1973–2009 period. Compared with the standard default-risk and other financial indicators, our credit spread index is a robust predictor of ...

Business Cycle Dynamics

This paper attempts to simulate endogenous cyclical behaviour through variations on the standard real business models. This paper relaxes the perfect foresight assumption implied by the rational agent hypothesis. It is replaced by imperfect adaptive expectations. The model is extended with a delay between investment and capital accumulation. This paper also simulates a non-equilibrium timediffe...

Dating Business Cycle in Oil Exporting Countries

In this paper, we empirically investigate the relationship between oil price changes and output in a group of oil exporting countries. The dynamics of business cycles in Libya, Saudi Arabia, Nigeria, Kuwait, Venezuela and Qatar are modeled by alternative regime switching models. We show that the extension of uni-variate Markov Switching model in order to include oil revenue improves dating busi...

Bank Lending Behaviour over the Business Cycle in Iran

This paper studies bank loans over the business cycles in Iran to determine the role of Iranian banks in stabilizing credit. By estimating the long-run relations using dynamic OLS and fully modified OLS estimators, the findings show that real bank lending is positively related to real GDP in the long-run providing evidences of the pro-cyclicality of bank lending in Iran. Hence, Iranian banking ...