Duncan’s Economic Blog

The UK Credit Cycle Across Ten Different Monetary Regimes

Posted in Uncategorized by duncanseconomicblog on December 14, 2010

As calculated by the Bank of England and offered without comment.  (Hat tip Paul).

 

8 Responses

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  1. vimothy said, on December 14, 2010 at 12:02 pm

    H-P Filter?

    Good luck to ’em, anyway–they’re going to need it!

    • duncanseconomicblog said, on December 14, 2010 at 12:11 pm

      Full details here and the appendix, showing the same chart for several other countries is worth glancing at.

      http://www.bankofengland.co.uk/publications/speeches/2010/speech463.pdf

      • vimothy said, on December 14, 2010 at 1:44 pm

        Cheers. Looks like an interesting paper. What crack are they smoking though? I guess central bankers have access to the highest grade sh*t. Well, don’t be a stranger Merv–pass that pipe around, baby!

        • duncanseconomicblog said, on December 14, 2010 at 5:35 pm

          I was a central banker once.

          I don’t remember the crack🙂

          • vimothy said, on December 14, 2010 at 5:52 pm

            Top CB crack is like the sixties–if you can remember doing it, you had the cheap crap cut with baby powder. Merv keeps the good stuff hidden in the weather vane in the Bank’s Court Room.

            There’s actually a nuclear bunker under Threadneedle St filled with emaciated 30 somethings, biting their dirty fingernails, stumbling around and occasionally mumbling to one another about sunspot equilibria and liquidity traps.

            Course, they don’t get the good stuff either. Pour la canaille, la mitraille—and everyone else can go eat cake.

            • vimothy said, on December 15, 2010 at 1:16 am

              Er, sorry, not sure where that came from! Seasonal madness, maybe.

              • duncanseconomicblog said, on December 15, 2010 at 11:11 am

                Certainly amused me.

                The truth is even stranger however – we were always told that the vaults contained a large stash of kendal mint cake, to be eaten in an emergency.

                • vimothy said, on December 15, 2010 at 6:46 pm

                  And to think we laughed at our profs when they told us that that capital is homogeneous, infinitely divisible and edible, eh.


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