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.