NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Credit Growth and the Financial Crisis: A New Narrative

Stefania Albanesi, Giacomo De Giorgi, Jaromir Nosal

NBER Working Paper No. 23740
Issued in August 2017

---- Acknowledgements ----

We are grateful to Christopher Carroll, Gauti Eggertsson, Nicola Gennaioli, Marianna Kudlyak, Virgiliu Midrigan, Giuseppe Moscarini, Joe Tracy, Eric Swanson, Paul Willen and many seminar and conference participants for useful comments and suggestions. We also thank Matt Ploenzke, Harry Wheeler and Richard Svoboda for excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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