ENDING OVER-LENDING DOCUMENTS

		Ending over-lending: Assessing systemic risk with debt to cash flow March 2015 European Central Bank Working Paper # 1769 The ECB Working Paper provides in-depth quantitative testing of the debt to cash flow approach compared against more standard indicators (debt/GDP, credit gaps) of systemic risk and vulnerabilities to financial instability.
		Ending over-lending: Assessing systemic risk with debt to cash flow February 2014 Bank of Finland Research Discussion Paper # 11 - 2014 The Bank of Finland Research Discussion Paper provides an earlier, less quantitative version of the paper.
		Ending Over-Lending: Applying Debt to Cash Flow Ratios to Nations as a means of Avoiding Financial Calamities October 2011 Cascadia Monetary Research The original version of Ending Over-Lending is in primarily descriptive format (less academic) with extensive use of charts. The following downloads of the 2011 paper are available:

RELATED DOCUMENTS

Bubble Economics: Australian Land Speculation 1830-2013

In their March 2015 book Bubble Economics: Australian Land Speculation 1830 – 2013, authors Paul D. Egan and Philip Soos cite the Bank of Finland Research Discussion Paper, and use the Ending Over-Lending debt to cash flow approach as one of the methodologies to test the sustainability of the Australian residential housing market and leverage of the nation's Household sector.

BIL SPECIAL REPORTS

Congratulations to the Boeckh Investment Letter team for recognizing the strength of the Debt-to-Cash Flow approach. In a BIL Special Report co-authored with Bruce Ramsay and originally published in October 2012, a fresh look at 'Deleveraging and the Global Debt Crisis' is presented. An update was published in September 2013.

The Sun On Sunday

Read the 2012 article by Kyle Deeter from the Irish newspaper The Sun on Sunday.

Kudos & Criticisms

Read kudos and criticisms about the original published October 2011 Ending Over-Lending paper.

FAQ

Got a question? Read frequently asked questions about Ending Over-Lending.

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