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Replication data for: Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008

Version
1
Resource Type
Dataset
Creator
  • Schularick, Moritz
  • Taylor, Alan M.
Publication Date
2012-04-01
Description
  • Abstract

    The financial crisis has refocused attention on money and credit fluctuations, financial crises, and policy responses. We study the behavior of money, credit, and macroeconomic indicators over the long run based on a new historical dataset for 14 countries over the years 1870-2008. Total credit has increased strongly relative to output and money in the second half of the twentieth century. Monetary policy responses to financial crises have also been more aggressive, but the output costs of crises have remained large. Credit growth is a powerful predictor of financial crises, suggesting that policymakers ignore credit at their peril. (JEL E32, E44, E52, G01, N10, N20)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.102.2.1029 (Text)
Publications
  • Schularick, Moritz, and Alan M Taylor. “Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870–2008.” American Economic Review 102, no. 2 (April 2012): 1029–61. https://doi.org/10.1257/aer.102.2.1029.
    • ID: 10.1257/aer.102.2.1029 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-11

Schularick, Moritz; Taylor, Alan M. (2012): Replication data for: Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112505V1