A U.S. Financial Conditions Index : Putting Credit Where Credit is Due

Putting Credit Where Credit is Due

A U.S. Financial Conditions Index : Putting Credit Where Credit is Due
This paper uses vector autoregressions and impulse-response functions to construct a U.S. financial conditions index (FCI). Credit availability-proxied by survey results on lending standards-is an important driver of the business cycle, accounting for over 20 percent of the typical contribution of financial factors to growth. A net tightening in READ MORE...

Publication date: June 2008
ISBN 9781451870190
$18.00

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