Credit and Business Cycles in Greece: Is there any relationship?
AbstractThis paper examines the relationship between real credit and future movements in real output at business-cycle frequencies in Greece. Importantly, the evidence suggests that real credit is found to significantly affect real output, given the trade deficit ratio. This finding implies that the U-turn of the Greek economy requires a positive credit shock which will stimulate aggregate demand and real output.
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Bibliographic InfoPaper provided by Department of Economics, University of Macedonia in its series Discussion Paper Series with number 2012_08.
Date of creation: Aug 2012
Date of revision: Aug 2012
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Web page: http://www.uom.gr/index.php?tmima=3
Real output; business cycles; real credit; trade deficit ratio;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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- Helbling, Thomas & Huidrom, Raju & Kose, M. Ayhan & Otrok, Christopher, 2011.
"Do credit shocks matter? A global perspective,"
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- Makram El-Shagi & Sebastian Giesen, 2013.
"Testing for Structural Breaks at Unknown Time: A Steeplechase,"
Society for Computational Economics, vol. 41(1), pages 101-123, January.
- Makram El-Shagi & Sebastian Giesen, 2010. "Testing for Structural Breaks at Unknown Time: A Steeplechase," IWH Discussion Papers 19, Halle Institute for Economic Research.
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