BIS Working Paper: Global and domestic financial cycles: variations on a theme
Author(s):Iñaki Aldasoro, Stefan Avdjiev, Claudio Borio and Piti Disyatat Date:May 2020 Abstract: We compare and contrast two prominent notions of financial cycles: a domestic variant, which focuses on how financial conditions within individual economies lead to boom-bust cycles there; and a global variant, which highlights how global financial conditions affect individual economies. The two notions[…]