Bijapur, Mohan (2013) Are credit crunches supply or demand shocks? . Social Science Electronic Publishing, Inc., New York, USA.
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Abstract
This paper provides new insights into the relationship between the supply of credit and the macroeconomy. We present evidence that credit shocks constitute shocks to aggregate supply in that they have a permanent effect on output and cause inflation to rise in the short term. Our results also suggest that the effects on aggregate supply have grown stronger in recent decades.
| Item Type: | Monograph (Working Paper) |
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| Official URL: | http://www.ssrn.com/en/ |
| Additional Information: | © 2013 Social Science Electronic Publishing, Inc. |
| Divisions: | Economics |
| Subjects: | H Social Sciences > HG Finance |
| JEL classification: | E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level; Inflation; Deflation E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles |
| Date Deposited: | 01 May 2014 11:21 |
| Last Modified: | 11 Dec 2024 19:12 |
| URI: | http://eprints.lse.ac.uk/id/eprint/56620 |
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