{"id":"https://openalex.org/W1546450870","doi":"https://doi.org/10.17863/cam.5583","title":"The role of credit in international business cycles","display_name":"The role of credit in international business cycles","publication_year":2012,"publication_date":"2012-01-05","ids":{"openalex":"https://openalex.org/W1546450870","doi":"https://doi.org/10.17863/cam.5583","mag":"1546450870"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:cam:camdae:1202","doi":null,"is_oa":false,"landing_page_url":"https://www.econ.cam.ac.uk/sites/default/files/publication-cwpe-pdfs/cwpe1202.pdf","pdf_url":"https://www.econ.cam.ac.uk/sites/default/files/publication-cwpe-pdfs/cwpe1202.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","indexed_in":["datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://www.dspace.cam.ac.uk/handle/1810/242216","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5069289503","display_name":"TengTeng Xu","orcid":"https://orcid.org/0000-0002-2853-283X","observed_orcids":["https://orcid.org/0000-0002-2853-283X"]},"institutions":[{"id":"https://openalex.org/I241749","display_name":"University of Cambridge","ror":"https://ror.org/013meh722","country_code":"GB","type":"education","lineage":["https://openalex.org/I241749"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Xu, TengTeng","raw_affiliation_strings":["University of Cambridge,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Cambridge,","institution_ids":["https://openalex.org/I241749"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5069289503"],"corresponding_institution_ids":["https://openalex.org/I241749"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":34,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.7378000020980835,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.7378000020980835,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.25679999589920044,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.0024999999441206455,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/credit-shocks","display_name":"credit shocks","score":0.8100000023841858},{"id":"https://openalex.org/keywords/international-business-cycles","display_name":"international business cycles","score":0.9539999961853027},{"id":"https://openalex.org/keywords/financial-spillovers","display_name":"financial spillovers","score":0.7360000014305115},{"id":"https://openalex.org/keywords/credit-transmission","display_name":"credit transmission","score":0.4129999876022339},{"id":"https://openalex.org/keywords/bank-lending","display_name":"bank lending","score":0.7889999747276306},{"id":"https://openalex.org/keywords/output-growth","display_name":"output growth","score":0.7360000014305115},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.9950000047683716},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.8209999799728394},{"id":"https://openalex.org/keywords/global-vector-autoregression","display_name":"global vector autoregression","score":0.781000018119812},{"id":"https://openalex.org/keywords/generalized-impulse-response","display_name":"generalized impulse response","score":0.6890000104904175},{"id":"https://openalex.org/keywords/financial-crises","display_name":"financial crisis","score":0.734000027179718}],"concepts":[{"id":"https://openalex.org/C83873408","wikidata":"https://www.wikidata.org/wiki/Q192311","display_name":"Business cycle","level":2,"score":0.8301392793655396},{"id":"https://openalex.org/C159877910","wikidata":"https://www.wikidata.org/wiki/Q2202883","display_name":"Autoregressive model","level":2,"score":0.7385615110397339},{"id":"https://openalex.org/C134024062","wikidata":"https://www.wikidata.org/wiki/Q1401229","display_name":"Error correction model","level":3,"score":0.676794707775116},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5219782590866089},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.46899914741516113},{"id":"https://openalex.org/C761482","wikidata":"https://www.wikidata.org/wiki/Q118093","display_name":"Transmission (telecommunications)","level":2,"score":0.43435001373291016},{"id":"https://openalex.org/C133029050","wikidata":"https://www.wikidata.org/wiki/Q385593","display_name":"Vector autoregression","level":2,"score":0.41756951808929443},{"id":"https://openalex.org/C174303752","wikidata":"https://www.wikidata.org/wiki/Q3624438","display_name":"Forecast error","level":2,"score":0.41506022214889526},{"id":"https://openalex.org/C193257486","wikidata":"https://www.wikidata.org/wiki/Q3681519","display_name":"International business","level":2,"score":0.41058939695358276},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.2765519618988037},{"id":"https://openalex.org/C145162277","wikidata":"https://www.wikidata.org/wiki/Q1751675","display_name":"Cointegration","level":2,"score":0.22346675395965576},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.15913048386573792},{"id":"https://openalex.org/C76155785","wikidata":"https://www.wikidata.org/wiki/Q418","display_name":"Telecommunications","level":1,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai:RePEc:cam:camdae:1202","doi":null,"is_oa":false,"landing_page_url":"https://www.econ.cam.ac.uk/sites/default/files/publication-cwpe-pdfs/cwpe1202.pdf","pdf_url":"https://www.econ.cam.ac.uk/sites/default/files/publication-cwpe-pdfs/cwpe1202.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:www.repository.cam.ac.uk:1810/242216","doi":null,"is_oa":true,"landing_page_url":"http://www.dspace.cam.ac.uk/handle/1810/242216","pdf_url":"http://www.dspace.cam.ac.uk/handle/1810/242216","source":{"id":"https://openalex.org/S4306401777","display_name":"Apollo (University of Cambridge)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I241749","host_organization_name":"University of Cambridge","host_organization_lineage":["https://openalex.org/I241749"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Working Paper"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.398.5448","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.398.5448","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.bankofcanada.ca/wp-content/uploads/2012/11/wp2012-36.pdf","raw_type":"text"},{"id":"mag:1546450870","doi":null,"is_oa":false,"landing_page_url":"https://www.bankofcanada.ca/wp-content/uploads/2012/11/wp2012-36.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"doi:10.17863/cam.5583","doi":"https://doi.org/10.17863/cam.5583","is_oa":true,"landing_page_url":"https://doi.org/10.17863/cam.5583","pdf_url":null,"source":{"id":"https://openalex.org/S7407050737","display_name":"Apollo","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article-journal"}],"best_oa_location":{"id":"pmh:oai:www.repository.cam.ac.uk:1810/242216","doi":null,"is_oa":true,"landing_page_url":"http://www.dspace.cam.ac.uk/handle/1810/242216","pdf_url":"http://www.dspace.cam.ac.uk/handle/1810/242216","source":{"id":"https://openalex.org/S4306401777","display_name":"Apollo (University of Cambridge)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I241749","host_organization_name":"University of Cambridge","host_organization_lineage":["https://openalex.org/I241749"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Working Paper"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.4099999964237213,"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17"}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320321846","display_name":"Cambridge Overseas Trust","ror":"https://ror.org/05sprqy15"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1546450870.pdf","grobid_xml":"https://content.openalex.org/works/W1546450870.grobid-xml"},"referenced_works_count":94,"referenced_works":["https://openalex.org/W3581114","https://openalex.org/W48805805","https://openalex.org/W1487030399","https://openalex.org/W1495009347","https://openalex.org/W1496057935","https://openalex.org/W1498175252","https://openalex.org/W1508198902","https://openalex.org/W1514296636","https://openalex.org/W1520147355","https://openalex.org/W1540297867","https://openalex.org/W1550071436","https://openalex.org/W1598246937","https://openalex.org/W1604833544","https://openalex.org/W1760259973","https://openalex.org/W1968753909","https://openalex.org/W1969610664","https://openalex.org/W1975290043","https://openalex.org/W1989188582","https://openalex.org/W1996783956","https://openalex.org/W1997056162","https://openalex.org/W2016349188","https://openalex.org/W2019459021","https://openalex.org/W2024619871","https://openalex.org/W2031096142","https://openalex.org/W2034623207","https://openalex.org/W2044835263","https://openalex.org/W2053908653","https://openalex.org/W2055648209","https://openalex.org/W2060210686","https://openalex.org/W2060569030","https://openalex.org/W2064523162","https://openalex.org/W2064696039","https://openalex.org/W2078057971","https://openalex.org/W2078556006","https://openalex.org/W2078864692","https://openalex.org/W2081668237","https://openalex.org/W2082095532","https://openalex.org/W2088563154","https://openalex.org/W2095364399","https://openalex.org/W2096874528","https://openalex.org/W2097425676","https://openalex.org/W2100641458","https://openalex.org/W2102897370","https://openalex.org/W2105705131","https://openalex.org/W2112559425","https://openalex.org/W2113844427","https://openalex.org/W2124532652","https://openalex.org/W2124597406","https://openalex.org/W2127612805","https://openalex.org/W2132853650","https://openalex.org/W2138340423","https://openalex.org/W2143288831","https://openalex.org/W2146108724","https://openalex.org/W2147017923","https://openalex.org/W2147560556","https://openalex.org/W2149292156","https://openalex.org/W2157642352","https://openalex.org/W2158437796","https://openalex.org/W2159386324","https://openalex.org/W2164587295","https://openalex.org/W2166377256","https://openalex.org/W2168876779","https://openalex.org/W2245698039","https://openalex.org/W2291226940","https://openalex.org/W2504099861","https://openalex.org/W2777225720","https://openalex.org/W2890582035","https://openalex.org/W3022367431","https://openalex.org/W3023036859","https://openalex.org/W3121191555","https://openalex.org/W3121236665","https://openalex.org/W3121479806","https://openalex.org/W3121542307","https://openalex.org/W3121861814","https://openalex.org/W3121935849","https://openalex.org/W3121974083","https://openalex.org/W3121983936","https://openalex.org/W3122334859","https://openalex.org/W3122398539","https://openalex.org/W3122790390","https://openalex.org/W3123284209","https://openalex.org/W3123412848","https://openalex.org/W3123610639","https://openalex.org/W3123619682","https://openalex.org/W3123721765","https://openalex.org/W3123787438","https://openalex.org/W3123823245","https://openalex.org/W3124019513","https://openalex.org/W3124331876","https://openalex.org/W3124449325","https://openalex.org/W3125147766","https://openalex.org/W3125321159","https://openalex.org/W3150126213","https://openalex.org/W3205041970"],"related_works":["https://openalex.org/W7097870216","https://openalex.org/W2498980564","https://openalex.org/W3023036859","https://openalex.org/W2012871608","https://openalex.org/W2620989906","https://openalex.org/W2804632983","https://openalex.org/W4388846458","https://openalex.org/W1599435248","https://openalex.org/W4239190077","https://openalex.org/W3215814292"],"abstract_inverted_index":{"The":[0,97],"recent":[1],"financial":[2,20],"crisis":[3],"raises":[4],"important":[5],"issues":[6],"about":[7],"the":[8,17,28,36,56,70,74,118,125,127],"role":[9],"of":[10,19,31,38,76,117,120],"credit":[11,33,39,78,113,122],"in":[12,40,79,84,91],"international":[13,29],"business":[14,42],"cycles":[15],"and":[16,35,65,86,131],"transmission":[18],"shocks":[21,34],"across":[22],"country":[23],"borders.":[24],"This":[25],"paper":[26],"investigates":[27],"spillover":[30,119],"US":[32,111,121],"importance":[37,75],"explaining":[41,80],"cycle":[43],"fluctuations":[44],"using":[45],"a":[46,104],"global":[47],"vector":[48],"autoregressive":[49],"(GVAR)":[50],"model":[51],"with":[52,93],"credit,":[53],"estimated":[54],"over":[55],"period":[57],"1979Q2":[58],"to":[59,110,124],"2006Q4":[60],"for":[61,103],"26":[62],"major":[63],"advanced":[64],"emerging":[66],"economies.":[67,134],"Results":[68],"from":[69],"country-specific":[71],"models":[72],"reveal":[73],"bank":[77],"output":[81],"growth,":[82],"changes":[83],"inflation":[85],"long":[87],"term":[88],"interest":[89],"rates":[90],"countries":[92],"developed":[94],"banking":[95],"sector.":[96],"generalized":[98],"impulse":[99],"response":[100],"function":[101],"(GIRF)":[102],"one":[105],"standard":[106],"error":[107],"negative":[108],"shock":[109,123],"real":[112],"provides":[114],"strong":[115],"evidence":[116],"UK,":[126],"Euro":[128],"area,":[129],"Japan":[130],"other":[132],"industrialized":[133]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":9},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":4},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
