Are we experiencing a credit crunch?
AbstractIn his statement before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs on the availability of credit, Bank President Richard F. Syron discusses the "credit crunch." He describes how developments in the financial and real sectors of the economy led to restricted credit availability, and why the situation has become particularly acute in New England. ; Mr. Syron concludes by considering the outlook for the future, cautioning against making the 1990s a period of excessive credit contraction, a mirror image of the mid 1980s when expectations were overly optimistic. Painful as the high unemployment rate and the drop in real estate prices are, they will provide the catalyst for restoring New England’s competitive position in manufacturing, which requires land and labor costs more in line with costs in the rest of the nation.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Federal Reserve Bank of Boston in its journal New England Economic Review.
Volume (Year): (1991)
Issue (Month): Jul ()
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Stefan Kooths & Matthias Rieger, 2008. "Caught in the US Subprime Meltdown 2007/2008: Germany Loses Its Wallet but Escapes Major Harm," Discussion Papers of DIW Berlin 825, DIW Berlin, German Institute for Economic Research.
- Robert T. Clair & Paula Tucker, 1993. "Six causes of the credit crunch," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Sep, pages 1-19.
- Charles W. Calomiris & Athanasios Orphanides & Steven A. Sharpe, 1994.
"Leverage as a State Variable for Employment, Inventory Accumulation, andFixed Investment,"
NBER Working Papers
4800, National Bureau of Economic Research, Inc.
- Charles W. Calomiris & Athanasios Orphanides & Steven A. Sharpe, 1994. "Leverage as a state variable for employment, inventory accumulation, and fixed investment," Finance and Economics Discussion Series 94-24, Board of Governors of the Federal Reserve System (U.S.).
- Curry, Timothy J. & Fissel, Gary S. & Hanweck, Gerald A., 2008. "Is there cyclical bias in bank holding company risk ratings?," Journal of Banking & Finance, Elsevier, vol. 32(7), pages 1297-1309, July.
- Amato, Jeffery D. & Furfine, Craig H., 2004. "Are credit ratings procyclical?," Journal of Banking & Finance, Elsevier, vol. 28(11), pages 2641-2677, November.
- Skander J. Van den Heuvel, 2002. "Does bank capital matter for monetary transmission?," Economic Policy Review, Federal Reserve Bank of New York, issue May, pages 259-265.
- Dahl, Drew, 1996. "Ownership changes and lending at minority banks: A note," Journal of Banking & Finance, Elsevier, vol. 20(7), pages 1289-1301, August.
- Peter Nigro & Kevin Jacques, 2000. "Financial Turmoil, Failed Bank Acquisitions, and Bank Business Lending Behavior," Journal of Financial Services Research, Springer, vol. 17(2), pages 149-164, August.
- Donsyah Yudistira, 2002. "The Impact of Bank Capital Requirements in Indonesia," Finance 0212002, EconWPA, revised 18 May 2003.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Catherine Spozio).
If references are entirely missing, you can add them using this form.