Mody, Ashoka, Sarno, Lucio and Taylor, Mark P.. (2007) A cross-country financial accelerator: evidence from North America and Europe. Journal of International Money and Finance, Vol.26 (No.1). pp. 149-165. ISSN 0261-5606

Full text not available from this repository.

Abstract

A growing literature has examined the importance of credit-market imperfections for macroeconomic fluctuations, the so-called 'financial accelerator.' A related literature has provided evidence of international and regional comovements in macroeconomic fluctuations. We tie together these strands of the literature in that we investigate the importance of both cross-country and country-specific credit cycles in explaining output fluctuations. Using data for four major economies and two world regions from 1973 to 2001, we find that both regional and country-specific components of indicators of credit availability are powerful in explaining output movements. This research provides the first empirical evidence of a cross-country financial accelerator. Published by Elsevier Ltd.

Item Type:	Journal Article
Subjects:	H Social Sciences > HG Finance
Divisions:	Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Journal of International Money and Finance
Publisher:	Elsevier BV
ISSN:	0261-5606
Official Date:	February 2007
Dates:	Date Event February 2007 Published
Volume:	Vol.26
Number:	No.1
Number of Pages:	17
Page Range:	pp. 149-165
Identification Number:	10.1016/j.jimonfin.2006.10.009
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/32284

Data sourced from Thomson Reuters' Web of Knowledge

Request changes or add full text files to a record

Actions (login required)

View Item