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A micro data approach to the identification of credit crunches

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  • Wollmershäuser, Timo
  • Rottmann, Horst

Abstract

This paper presents a micro data approach to the identification of credit crunches. Using a survey among German firms which regularly queries the firms' assessment of the current willingness of banks to extend credit we estimate the probability of a restrictive credit supply policy by time taking into account the creditworthiness of borrowers. Creditworthiness is approximated by firm-specific factors, e.g. the firms' assessment of their current business situation and their business expectations. After controlling for the banks' refinancing costs, which are also likely to affect the supply of loans, we derive a credit crunch indicator, which measures that part of the shift in the willingness to lend that is neither explained by firm-specific factors nor by refinancing costs. --

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Bibliographic Info

Paper provided by University of Applied Sciences Amberg-Weiden (OTH) in its series OTH im Dialog: Weidener Diskussionspapiere with number 24.

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Date of creation: 2010
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Handle: RePEc:zbw:hawdps:24

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Web page: http://www.oth-aw.de/

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Keywords: credit crunch; loan supply; surveys; nonlinear binary outcome panel-data models;

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References

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Citations

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Cited by:
  1. Anja Hönig, 2010. "Linkage of Ifo Survey and Balance-Sheet Data: The EBDC Business Expectations Panel & the EBDC Business Investment Panel," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 130(4), pages 635-642.
  2. Elsayyad, May & Konrad, Kai A., 2012. "Fighting Multiple Tax Havens," Munich Reprints in Economics 13964, University of Munich, Department of Economics.
  3. Bohachova, Olga & Boockmann, Bernhard & Buch, Claudia M., 2011. "Labor Demand During the Crisis: What Happened in Germany?," IZA Discussion Papers 6074, Institute for the Study of Labor (IZA).
  4. Gabriel J. Felbermayr & Gilbert Spiegel, 2012. "A Simple Theory of Trade, Finance, and Firm Dynamics," CESifo Working Paper Series 3873, CESifo Group Munich.
  5. Kremp, E. & Sevestre, P., 2012. "Did the crisis induce credit rationing for French SMEs?," Working papers 405, Banque de France.
  6. Elsayyad, May & Konrad, Kai A., 2012. "Fighting multiple tax havens," Journal of International Economics, Elsevier, vol. 86(2), pages 295-305.
  7. Artem Marjenko & Stefan Sauer & Klaus Wohlrabe, 2012. "Die Kredithürde: Deutsche Firmen trotz Eurokrise ohne Finanzierungsprobleme," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 65(19), pages 42-46, October.
  8. Torsten Schmidt & Lina Zwick, 2012. "In Search for a Credit Crunch in Germany," Ruhr Economic Papers 0361, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  9. Christian Seiler, 2013. "Nonresponse in Business Tendency Surveys: Theoretical Discourse and Empirical Evidence," ifo Beiträge zur Wirtschaftsforschung, Ifo Institute for Economic Research at the University of Munich, number 52.
  10. Giancarlo Corsetti & Michael P. Devereux & Luigi Guiso & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2010. "Chapter 1: The European Economy: Macroeconomic outlook," EEAG Report on the European Economy, CESifo Group Munich, vol. 0, pages 11-51, 02.
  11. Christian Seiler, 2012. "The Data Sets of the LMU-ifo Economics & Business Data Center - A Guide for Researchers," Ifo Working Paper Series Ifo Working Paper No. 138, Ifo Institute for Economic Research at the University of Munich.

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