elationship look linear. Firm conclusions on thresholds are elusive. A 2010 IMF paper turns up "some evidence" of a 90% threshold; a 2011 study by the Bank for International Settlements identifies a threshold of 85%. But another IMF analysis published in 2012 found that "there is no particular threshold that consistently precedes s

er band: During a credit boom, the volume of credit quickly expands while it quickly contracts in times of crisis. It is therefore no surprise that the Bank for International Settlements has examined potential credit booms and asset-price bubbles in its most recent annual report.2 And indeed, warning signals are already to be found

er band: During a credit boom, the volume of credit quickly expands while it quickly contracts in times of crisis. It is therefore no surprise that the Bank for International Settlements has examined potential credit booms and asset-price bubbles in its most recent annual report.2 And indeed, warning signals are already to be found

nfidence has occurred, governments find it difficult to raise the money they need at an acceptable interest rate. A report by an economic adviser to the Bank for International Settlements in March noted that "our projections of public debt ratios lead us to conclude that the path pursued by fiscal authorities in a number of industria