Romania in a post-credit crunch world? A cautionary tale from Australia and America

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dc.creatorCostea, Carmen
dc.creatorKeen, Steve
dc.date2008-04-15
dc.date.accessioned2026-07-07T09:32:40Z
dc.date.available2026-07-07T09:32:40Z
dc.descriptionWe present data on debt accumulation in Australia and the United States, and tentative data on Romania, to pose the question of whether Romania might experience a credit crunch as a result of the US subprime financial crisis. We develop a model of a credit crunch in a pure credit economy with endogenous money creation, to show how changes in bank lending practices and borrower repayment behaviour can bring about an economic decline.
dc.description21 pages, 12 figures
dc.identifierhttps://arxiv.org/abs/0804.2319
dc.identifierhttp://arxiv.org/abs/0804.2319
dc.identifier.urihttp://salesiana.dossiersoluciones.com/handle/123456789/158860
dc.subjectPhysics and Society
dc.subjectChaotic Dynamics
dc.titleRomania in a post-credit crunch world? A cautionary tale from Australia and America
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