Credit Booms Gone Bust: Replication of Schularick and Taylor (AER 2012) (replication data)

DOI

This paper replicates the results in Schularick and Taylor (American Economic Review 2012; 102(2): 1029-1061; ST hereafter). Specifically, I replicate ST's results in the narrow sense by reproducing their calculations in the open source econometrics package gretl. (Gretl is an acronym for Gnu Regression, Econometrics and Time-series Laboratory. It is available for Windows, Mac and Linux at www.gretl.sourceforge.net.) I also demonstrate the robustness of ST's findings to different estimation methods. I obtain qualitatively similar results to ST via Bayesian estimation of both static and dynamic panel probit models. Finally, I show that the marginal effects of credit growth on the probability of a financial crisis vary considerably across the countries in the dataset.

Identifier
DOI https://doi.org/10.15456/jae.2022326.0704616695
Metadata Access https://www.da-ra.de/oaip/oai?verb=GetRecord&metadataPrefix=oai_dc&identifier=oai:oai.da-ra.de:775439
Provenance
Creator Summers, Peter M.
Publisher ZBW - Leibniz Informationszentrum Wirtschaft
Publication Year 2017
Rights Creative Commons Attribution 4.0 (CC-BY); Download
OpenAccess true
Contact ZBW - Leibniz Informationszentrum Wirtschaft
Representation
Language English
Resource Type Collection
Discipline Economics; History; Humanities; Social and Behavioural Sciences