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The Impact of Liquidity Constraints on Bank Lending Policy

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Webb, David C

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Abstract

This paper examines banks' provision of liquidity to depositors and provision of loans. The problem identified is that banks may not be able to provide new funds for borrowers who are short of cash, because either the return on investments is poor, or because depositors withdraw more funds than expected. Banks subject to liquidity shortages may ration loans to good borrowers. This problem is shown to depend upon the nature of the deposit contract and banks' inability to issue subordinated deposits. State contingent renegotiation of loans and matching of the duration of project returns and investment needs mitigates the problem.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 110 (2000)
Issue (Month): 460 (January)
Pages: 69-91
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Handle: RePEc:ecj:econjl:v:110:y:2000:i:460:p:69-91

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  1. Cesaroni Giovanni & Messori Marcello, 2003. "Financial Constraints and Unemployment Equilibrium," Departmental Working Papers 191, Tor Vergata University, CEIS. [Downloadable!]
    Other versions:
  2. Robin Boadway & Jean-Francois Tremblay, 2003. "Public Economics and Startup Entrepreneurs," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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