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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w23843 |
来源ID | Working Paper 23843 |
The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets | |
Brian S. Chen; Samuel G. Hanson; Jeremy C. Stein | |
发表日期 | 2017-09-25 |
出版年 | 2017 |
语种 | 英语 |
摘要 | Small business lending by the four largest banks fell sharply relative to others in 2008 and remained depressed through 2014. We explore the dynamic adjustment process following this credit supply shock. In counties where the largest banks had a high market share, the aggregate flow of small business credit fell, interest rates rose, fewer businesses expanded, unemployment rose, and wages fell from 2006 to 2010. While the flow of credit recovered after 2010 as other lenders slowly filled the void, interest rates remain elevated. Although unemployment returns to normal by 2014, the effect on wages persists in these areas. |
主题 | Financial Economics ; Financial Institutions |
URL | https://www.nber.org/papers/w23843 |
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/581516 |
推荐引用方式 GB/T 7714 | Brian S. Chen,Samuel G. Hanson,Jeremy C. Stein. The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets. 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 | ||
w23843.pdf(1003KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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