Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-09
نویسندگان
چکیده
منابع مشابه
Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9∗ Tobias Adrian Federal Reserve Bank of New York
The financial crisis of 2007-9 has sparked keen interest in models of financial frictions and their impact on macro activity. Most models share the feature that borrowers suffer a contraction in the quantity of credit. However, the evidence suggests that although bank lending contracts during the crisis, bond financing actually increases to make up much of the gap. This paper reviews both aggre...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1976322