International credit market conditions
This article explores the relationship of
highly integrated credit markets to provide a
better understanding of exactly what is going
on in international credit markets. It does so
by examining four cases that are constructed
with only one factor changing. It then shows
that by mixing the four types of events analyzed
it is possible to understand more fully
how international markets' linkages operate
and why those linkages often produce seemingly
inconsistent outcomes across time. The
cases are similar to current events, but are simplified
to make the analysis clearer.
