Aggregate Uncertainty and the Supply of Credit

WP/13/241

Aggregate Uncertainty and the Supply of Credit
Recent studies show that uncertainty shocks have quantitatively important effects on the real economy. This paper examines one particular channel at work: the supply of credit. It presents a model in which a bank, even if managed by risk-neutral shareholders and subject to limited liability, can exhibit self-insurance, and thus loan supply... READ MORE...

Publication date: December 2013
ISBN 9781475513936
$18.00

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Publication date: December 2013

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Publication date: December 2013

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