| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5951 |
| 来源ID | Working Paper 5951 |
| Lending Cycles | |
| Patrick K. Asea; S. Brock Blomberg | |
| 发表日期 | 1997-03-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | We investigate the lending behavior of banks by exploiting a rich panel dataset on the contract terms of approximately two million commercial and industrial loans granted by 580 banks between 1977-1993. Using a Markov switching panel model we demonstrate that banks change their lending standards from tightness to laxity systematically over the cycle. We then use an efficient minimum chi-square estimator to examine the relationship between the cyclical component of aggregate unemployment and bank lending standards when both variables are jointly endogenously determined in a system of simultaneous equations with mixed, continuous/discrete dependent variables. The patterns we uncover suggest that lax lending standards that tend to occur during expansions exert considerable influence on the dynamics of aggregate fluctuations. |
| 主题 | Macroeconomics ; Business Cycles ; Consumption and Investment |
| URL | https://www.nber.org/papers/w5951 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563452 |
| 推荐引用方式 GB/T 7714 | Patrick K. Asea,S. Brock Blomberg. Lending Cycles. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5951.pdf（2365KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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