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  • 04 Mar 2016
  • Working Paper Summaries

Credit-Market Sentiment and the Business Cycle

Keywords: by David Lopez-Salido, Jeremy C. Stein, and Egon Zakrajsek; Banking
  • 2016
  • Working Paper

Credit-Market Sentiment and the Business Cycle

By: David Lopez-Salido, Jeremy C. Stein and Egon Zakrajsek
Using U.S. data from 1929 to 2013, we show that elevated credit-market sentiment in year t – 2 is associated with a decline in economic activity in years t and t + 1. Underlying this result is the existence of predictable mean reversion in credit-market conditions.... View Details
Keywords: Investment; Credit; Macroeconomics
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  • 01 Mar 2016
  • First Look

March 1, 2016

economic conflicts behind the arguments put forward by the different parties. We also identify several key open questions. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=50676 Credit-Market Sentiment View Details
Keywords: Sean Silverthorne

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