Discerning Good from Bad Credit Booms: The Role of Construction
Staff Discussion Notes, February 12, 2020
Source details
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- Discerning Good from Bad Credit Booms: The Role of Construction
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Bibliographic details
- Authors: Giovanni Dell'Ariccia, Ehsan Ebrahimy, Deniz O Igan, Damien Puy
- Published: February 12, 2020
- Series: Staff Discussion Notes
- DOI: https://doi.org/10.5089/9781513529370.006
Overview and purpose
- Authors: Giovanni Dell'Ariccia, Ehsan Ebrahimy, Deniz O Igan, Damien Puy
- Date: February 12, 2020
- Aim: Fill a gap in understanding how the real sector behaves during credit booms by analyzing which industries benefit and which suffer.
- Scope: Disaggregated output and employment data in a large sample of advanced and emerging market economies between 1970 and 2014.
Key findings (summary-level)
- Credit booms are a focal point for policymakers and scholars of financial crises.
- Existing literature largely focuses on aggregate economic activity; relatively little is known about industry-level differential effects during credit booms.
- The note analyzes disaggregated output and employment to identify industry winners and losers during credit booms, with particular attention to construction.
Data and sample
- Time span covered: between 1970 and 2014.
- Sample: a large sample of advanced and emerging market economies (as characterized in the note).
Thematic subjects and keywords
- Subject: Consumer credit, Credit, Credit booms, Employment, Housing prices, Labor, Money, Prices
- Keywords: bad boom, Bank credit, boom episode, construction boom, Consumer credit, Credit, credit boom, credit boom experience, Credit booms, Employment, Financial crisis, Global, household credit growth, Housing prices, labor intensity, real value, SDN, Value added, x construction
Content in this bundle
- Staff Discussion Note