The Macroeconomic Relevance of Credit Flows : An Exploration of U.S. Data

An Exploration of U.S. Data

The Macroeconomic Relevance of Credit Flows : An Exploration of U.S. Data
This paper exploits the Financial Accounts of the United States to derive long time series of bank and nonbank credit to different sectors, and to examine the cyclical behavior of these series in relation to (i) the long-term business cycle, (ii) recessions and recoveries, and (iii) systemic financial crises. We find that bank and nonbank credit... READ MORE...

Publication date: June 2015
ISBN 9781513516448
$18.00

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