BoE paper explores global financial cycles since 1880
Cycles in credit and housing have become more pronounced, but only for some economies
Global financial cycles have become more pronounced, but only for certain economies, according to a study of 133 years of data, published by the Bank of England.
Authors Galina Potjagailo and Maik Wolters note there has been disagreement among academics over the importance of the global financial cycle, and whether it has grown over time. They attribute this to the relatively short time period included in most studies, and disagreement over which financial aggregates are most important.
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