@inbook{09432ae499754eeb88aa6cac7817b27b,
title = "How Stable Is the Nordic Financial Sector?",
abstract = "The Nordic financial sectors were challenged during the early 1990s and in 2008. The crises were costly, with losses in terms of foregone GDP accumulating to, in some cases, two years of economic output (GDP). High credit growth and real estate booms, preceded by financial liberalizations, caused the crises. There were many similarities across the Nordics, but also some important differences. Currently, credit growth is low and banks are well capitalized. Traditional indicators of financial crises are not flashing red. On the other hand, house prices and household debt levels are elevated. Risks resulting from low interest rates are also discussed.",
keywords = "Credit growth, House prices, Household debt, Capitalization of banks, Financial regulation, Low interest rates, Credit growth, House prices, Household debt, Capitalization of banks, Financial regulation, Low interest rates",
author = "Jesper Rangvid",
year = "2020",
doi = "10.6027/Nord2020-025",
language = "English",
isbn = "9789289365659",
series = "Nordic Economic Policy Review",
publisher = "Nordic Council of Ministers",
pages = "21--49",
booktitle = "Financial Regulation and Macroeconomic Stability in the Nordics",
address = "Denmark",
}