Quantity versus Price Rationing of Credit: An Empirical Test
AbstractOne proxy of price rationing of credit is an aggregation of information on interest rates, while loan officer survey data measures quantity rationing of credit, meaning some borrowers are denied loans. The latter Granger causes real GDP but the former does not. The loan officer survey is a better leading indicator of credit market conditions that affect real activity.
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Bibliographic InfoArticle provided by MDPI, Open Access Journal in its journal International Journal of Financial Studies.
Volume (Year): 1 (2013)
Issue (Month): 3 (July)
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Web page: http://www.mdpi.com/
loan officer survey; quantity rationing of credit; vector autoregression (VAR);
Find related papers by JEL classification:
- G1 - Financial Economics - - General Financial Markets
- G2 - Financial Economics - - Financial Institutions and Services
- G3 - Financial Economics - - Corporate Finance and Governance
- F2 - International Economics - - International Factor Movements and International Business
- F3 - International Economics - - International Finance
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Research Discussion Papers
3/2012, Bank of Finland.
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