This paper examines the e↵ects of intra-financial lending – claims between financial institutions – on aggregate investment and credit to the non-financial sector in the United States. Building on Montecino, Epstein, and Levina (2014) we document a large growth in intra-financial assets beginning in the early 1980s. Using a vector autoregression model, we find that intra-financial lending is ne...

An increase in credit, especially consumption can trigger aggregate demand growth above potential output which causes the economy to heat up. This study aims analyze effect of macroeconomic variables, such as interest rates, inflation, and gross domestic product (GDP), on for property credit Indonesia with period January 2011 – December 2018. The results show that short term, rate lag 1 2, infl...

This study investigates the effect of intra-organizational and macroeconomic factors on banking leverage in selected Iranian banks. For this purpose, after calculation of the Banking Leverage for each bank, by using Random-Coefficients Approach (Swamy model), the impact of explanatory variables during the period of 1999-2016 was examined separately by 10 selected Iranian public and private bank...

Why does the VIX and market return explain changes in credit spreads? Existing literature suggests these factors proxy for macroeconomic risk. In this paper, we investigate an alternative hypothesis that the VIX in its role as a fear index impacts intermediary and arbitrageur capital, impacting spreads and resulting in decreased market integration across credit and equity markets. We document t...

This study is on the determinants of credit access by small scale farmers in Dekina Local Government Area of Kogi State, Nigeria. The specific objectives are to; identify the major source of credit among the small scale farmers; estimate the determinants of farmers’ access to formal credit; compare the farm income of farmers who have access to formal credit and those who have not and identify c...

Practice can dramatically reduce dual-task interference, but typically does not eliminate interference entirely. Residual interference after practice is especially large with certain non-preferred modality pairings (e.g., auditory-manual and visual-vocal). Does this residual interference imply the existence of a persistent central-processing bottleneck? To address this question, we transferred ...

In this research, the controversial issue of whether the central bottleneck can be bypassed through task automatization was investigated. To examine this issue, participants received six single-task practice sessions with an auditory-vocal task (low vs. high pitch). We then assessed dual-task performance using the analytically tractable psychological refractory period (PRP) paradigm, in which t...

The authors examined the role of online order control in the psychological refractory period (PRP) paradigm. In the first 2 experiments, participants switched between color-letter and letter-color orders so that subtask order was isolated as the only element being switched. The results indicated that order switching impaired the 2 PRP responses and modulated the PRP effect. Importantly, these e...