The Good, The Bad, and The Ugly: An Inquiry into the Causes and Nature of Credit Cycles
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- Matsuyama, Kiminori, 2013. "The good, the bad, and the ugly: An inquiry into the causes and nature of credit cycles," Theoretical Economics, Econometric Society, vol. 8(3), September.
- Kiminori Matsuyama, 2004. "The Good, The Bad, and The Ugly: An Inquiry into the Causes and Nature of Credit Cycles," CIRJE F-Series CIRJE-F-294, CIRJE, Faculty of Economics, University of Tokyo.
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Cited by:
- Pablo A. Guerron-Quintana & Tomohiro Hirano & Ryo Jinnai, 2019.
"Recurrent Bubbles and Economic Growth,"
CARF F-Series
CARF-F-457, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
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- Dong, Feng & Xu, Zhiwei, 2020. "Cycles of credit expansion and misallocation: The Good, the Bad and the Ugly," Journal of Economic Theory, Elsevier, vol. 186(C).
- Tiago Pinheiro & Francisco Rivadeneyra & Marc Teignier, 2017. "Financial Development, Credit, and Business Cycles," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(7), pages 1653-1665, October.
- Matsuyama, Kiminori & Sushko, Iryna & Gardini, Laura, 2016.
"Revisiting the model of credit cycles with Good and Bad projects,"
Journal of Economic Theory, Elsevier, vol. 163(C), pages 525-556.
- Kiminori Matsuyama & Iryna Sushko & Laura Gardini, 2015. "Revisiting the Model of Credit Cycles with Good and Bad Projects," IMES Discussion Paper Series 15-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
- Kiminori Matsuyama & Iryna Sushko & Laura Gardini, 2015. "Revisiting the model of credit cycles with good and bad projects," Gecomplexity Discussion Paper Series 8, Action IS1104 "The EU in the new complex geography of economic systems: models, tools and policy evaluation", revised Feb 2015.
- Asano, Takao & Yokoo, Masanori, 2019. "Chaotic dynamics of a piecewise linear model of credit cycles," Journal of Mathematical Economics, Elsevier, vol. 80(C), pages 9-21.
- Kiminori Matsuyama, 2007. "Credit Traps and Credit Cycles," American Economic Review, American Economic Association, vol. 97(1), pages 503-516, March.
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- Iryna Sushko & Laura Gardini & Kiminori Matsuyama, 2014. "Chaos in a Model of Credit Cycles with Good and Bad Projects," Working Papers 1405, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2014.
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More about this item
Keywords
wealth-dependent borrowing constraints; heterogeneity of projects; aggregate demand spillovers; credit multiplier effect; credit reversal effect; endogenous credit cycles; nonlinear dynamics; chaos; flip and tangent bifurcations; homoclinic orbits; intermittency; asymmetric fluctuations;JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MAC-2007-04-09 (Macroeconomics)
- NEP-PPM-2007-04-09 (Project, Program & Portfolio Management)
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