01749cas a2200277 a 4500 AALejournalIMF006841 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455209613 1018-5941 BD-DhAAL BD-DhAAL Helbling, Thomas. Do Credit Shocks Matter? : A Global Perspective / Thomas Helbling, Ayhan Kose, Christopher Otrok, Raju Huidrom. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the importance of credit market shocks in driving global business cycles over the period 1988:1-2009:4. We first estimate common components in various macroeconomic and financial variables of the G-7 countries. We then evaluate the role played by credit market shocks using a series of VAR models. Our findings suggest that these shocks have been influential in driving global activity during the latest global recession. Credit shocks originating in the United States also have a significant impact on the evolution of world growth during global recessions. Mode of access: Internet Huidrom, Raju. Kose, Ayhan. Otrok, Christopher. IMF Working Papers; Working Paper ; No. 2010/261 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/261/001.2010.issue-261-en.xml IMF e-Library