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Are credit crunches supply or demand shocks?

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)
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
Sets: Departments > Economics
Date Deposited: 01 May 2014 11:21
Last Modified: 12 Oct 2019 23:25
URI: http://eprints.lse.ac.uk/id/eprint/56620

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