"Detecting Early Signs of Financial Stability"

With Scott Brave.

Published in Chicago Fed Letter No. 305, June 2012.

Abstract: The authors analyze the usefulness of a new measure of nonfinancial leverage for the National Financial Conditions Index as an early warning indicator for financial instability and its consequences for economic growth.

The published article is available as a pdf. (4 pages, 235 KB)

The nonfinancial leverage measure can be downloaded as a .cvs sheet from here.