Banks' Precautionary Capital and Persistent Credit Crunches

Banks' Precautionary Capital and Persistent Credit Crunches
Periods of banking distress are often followed by sizable and long-lasting contractions in bank credit. They may be explained by a declined demand by financially impaired borrowers (the conventional financial accelerator) or by lower supply by capital-constrained banks, a "credit crunch". This paper develops a bank model to study credit crunches READ MORE...

Publication date: October 2008
ISBN 9781451871067
$18.00

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