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The responses of small and large firms to tight credit shocks : the case of 2008 through the lens of Gertler and Gilchrist (1994)

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  • Marianna Kudlyak
  • David A. Price
  • Juan M. Sanchez

Abstract

Do large firms and small firms behave differently when credit becomes more costly or harder to obtain? Past research has found that small firms are more likely to be credit-constrained and thus tend to be affected more negatively than large firms during such times. Recent findings from the 2007-2009 recession, however, raise questions about the roles of small and large firms during periods of tight credit

Suggested Citation

  • Marianna Kudlyak & David A. Price & Juan M. Sanchez, 2010. "The responses of small and large firms to tight credit shocks : the case of 2008 through the lens of Gertler and Gilchrist (1994)," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Oct.
    • Handle: RePEc:fip:fedreb:y:2010:i:oct:n:10-10
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    Cited by:

    1. Salem Abo‐Zaid & Anastasia Zervou, 2020. "Financing of Firms, Labor Reallocation, and the Distributional Role of Monetary Policy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(2), pages 790-823, April.
    2. Dan DUMITRIU, 2015. "The Impact of Financial Diplomacy and the Effects of Financial Crisis on Norwegian Firms' Capital," Management Dynamics in the Knowledge Economy, College of Management, National University of Political Studies and Public Administration, vol. 3(1), pages 171-186, March.

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    Keywords

    Business cycles; Recessions;

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