| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23802 |
| 来源ID | Working Paper 23802 |
| How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s | |
| Atif Mian; Amir Sufi; Emil Verner | |
| 发表日期 | 2017-09-11 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We study the business cycle consequences of credit supply expansion in the U.S. The 1980's credit boom resulted in stronger credit expansion in more deregulated states, and these states experience a more amplified business cycle. A new test shows that amplification is primarily driven by the local demand rather than the production capacity channel. States with greater exposure to credit expansion experience larger increases in household debt, the relative price of non-tradable goods, nominal wages, and non-tradable employment. Yet there is no change in tradable sector employment. Eventually states with greater exposure to credit expansion experience a significantly deeper recession. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w23802 |
| 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/581476 |
| 推荐引用方式 GB/T 7714 | Atif Mian,Amir Sufi,Emil Verner. How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s. 2017. |
| 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 | ||
| w23802.pdf（1234KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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