Credit and Out- put Cycle Interdependence

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Credit and Business Cycles: An Empirical Analysis in the Frequency Domain

The history of economic recessions has shown that every deep downturn has been accompanied by disruptions in the …financial sector. Paradoxically, up until the …financial world crisis of 2007-2009, little attention was given to macroeconomic and …financial interdependence. And, in spite of a...

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