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Papers by D. Igan

Research paper thumbnail of Policies for Macrofinancial Stability: How to Deal with Credit Booms

Staff Discussion Notes, 2012

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Research paper thumbnail of Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms

Staff Discussion Notes, 2011

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Research paper thumbnail of Wall Street, Capitol Hill, and K Street: Political Influence and Financial Regulation

Journal of Law and Economics, 2014

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Research paper thumbnail of Credit Booms and Lending Standards

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Research paper thumbnail of Three Cycles: Housing, Credit, and Real Activity (EPub)

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Research paper thumbnail of Policies for Macrofinancial Stability

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Research paper thumbnail of Dealing with Household Debt

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Research paper thumbnail of Lobbying and the financial crisis

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Research paper thumbnail of A Fistful of Dollars

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Research paper thumbnail of The Power of K: Politically-Targeted Activities, Connections and the Financial System1

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Research paper thumbnail of A Study of a Market Anomaly: “White Men Can’t Jump,” But Would YouBet On It?

Journal of Economic Behavior & Organization, 2015

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Research paper thumbnail of Three Cycles: Housing, Credit, and Real Activity

IMF Working Papers, 2009

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Research paper thumbnail of Monetary Policy and Balance Sheets

IMF Working Papers, 2013

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Research paper thumbnail of Lessons and Policy Implications from the Global Financial Crisis

The Evidence and Impact of Financial Globalization, 2013

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Research paper thumbnail of Racial Biases and Market Outcomes: 'White Men Can't Jump,' But Would You Bet on It?

SSRN Electronic Journal, 2000

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Research paper thumbnail of ‘White Men Can’t Jump,’ But Would You Bet on It?

SSRN Electronic Journal, 2000

... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, Sch... more ... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, School of Management, Email: marcelo@alumni.princeton.edu. ... 32, pp. 1353)1363. [21] Larsen, Tim, Price, Joe and Wolfers, Justin, 2008, VRacial Bias in the NBA: Implications in ...

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Research paper thumbnail of Do Loan-to-Value and Debt-to-Income Limits Work? Evidence from Korea

SSRN Electronic Journal, 2000

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Research paper thumbnail of Fiscal Consolidation and the Cost of Credit: Evidence from Syndicated Loans

SSRN Electronic Journal, 2000

ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at... more ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data for 16 advanced economies over the period 1990-2011, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic firms, and for firms with limited alternative financing sources. These adverse effects are mitigated substantially if consolidations are large, and can be avoided if consolidations are also accompanied with more adaptable macroeconomic policies and implemented by a stable government. These findings suggest that lenders price the short-term recessionary effects in loans but large consolidations can reduce or undo the increase in spreads, especially under favorable country conditions, by signaling credibility and creating expansionary expectations.

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Research paper thumbnail of Three’s Company: Wall Street, Capitol Hill, and K Street

SSRN Electronic Journal, 2000

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Research paper thumbnail of A Fistful of Dollars: Lobbying and the Financial Crisis

NBER Macroeconomics Annual, 2012

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Research paper thumbnail of Policies for Macrofinancial Stability: How to Deal with Credit Booms

Staff Discussion Notes, 2012

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Research paper thumbnail of Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms

Staff Discussion Notes, 2011

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Research paper thumbnail of Wall Street, Capitol Hill, and K Street: Political Influence and Financial Regulation

Journal of Law and Economics, 2014

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Research paper thumbnail of Credit Booms and Lending Standards

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Research paper thumbnail of Three Cycles: Housing, Credit, and Real Activity (EPub)

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Research paper thumbnail of Policies for Macrofinancial Stability

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Research paper thumbnail of Dealing with Household Debt

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Research paper thumbnail of Lobbying and the financial crisis

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Research paper thumbnail of A Fistful of Dollars

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Research paper thumbnail of The Power of K: Politically-Targeted Activities, Connections and the Financial System1

Bookmarks Related papers MentionsView impact

Research paper thumbnail of A Study of a Market Anomaly: “White Men Can’t Jump,” But Would YouBet On It?

Journal of Economic Behavior & Organization, 2015

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Three Cycles: Housing, Credit, and Real Activity

IMF Working Papers, 2009

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Research paper thumbnail of Monetary Policy and Balance Sheets

IMF Working Papers, 2013

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Research paper thumbnail of Lessons and Policy Implications from the Global Financial Crisis

The Evidence and Impact of Financial Globalization, 2013

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Research paper thumbnail of Racial Biases and Market Outcomes: 'White Men Can't Jump,' But Would You Bet on It?

SSRN Electronic Journal, 2000

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Research paper thumbnail of ‘White Men Can’t Jump,’ But Would You Bet on It?

SSRN Electronic Journal, 2000

... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, Sch... more ... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, School of Management, Email: marcelo@alumni.princeton.edu. ... 32, pp. 1353)1363. [21] Larsen, Tim, Price, Joe and Wolfers, Justin, 2008, VRacial Bias in the NBA: Implications in ...

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Research paper thumbnail of Do Loan-to-Value and Debt-to-Income Limits Work? Evidence from Korea

SSRN Electronic Journal, 2000

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Research paper thumbnail of Fiscal Consolidation and the Cost of Credit: Evidence from Syndicated Loans

SSRN Electronic Journal, 2000

ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at... more ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data for 16 advanced economies over the period 1990-2011, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic firms, and for firms with limited alternative financing sources. These adverse effects are mitigated substantially if consolidations are large, and can be avoided if consolidations are also accompanied with more adaptable macroeconomic policies and implemented by a stable government. These findings suggest that lenders price the short-term recessionary effects in loans but large consolidations can reduce or undo the increase in spreads, especially under favorable country conditions, by signaling credibility and creating expansionary expectations.

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Research paper thumbnail of Three’s Company: Wall Street, Capitol Hill, and K Street

SSRN Electronic Journal, 2000

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Research paper thumbnail of A Fistful of Dollars: Lobbying and the Financial Crisis

NBER Macroeconomics Annual, 2012

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