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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w24322 |
来源ID | Working Paper 24322 |
Finance and Business Cycles: The Credit-Driven Household Demand Channel | |
Atif R. Mian; Amir Sufi | |
发表日期 | 2018-02-19 |
出版年 | 2018 |
语种 | 英语 |
摘要 | Every major financial crisis leaves its unique footprint on economic thought. The early banking crises taught us the importance of financial sector liquidity and the lender of last resort. The Great Depression highlighted the devastating effects of bank failures and the need for counter-cyclical fiscal and monetary policy. The Great Recession has brought to the surface the importance of credit-driven business cycles that operate through household demand. We discuss empirical evidence accumulated over the last decade supporting this view, and we also describe accompanying theoretical work that helps define these concepts. |
主题 | Macroeconomics ; Business Cycles ; Monetary Policy ; Financial Economics ; Financial Institutions ; Regional and Urban Economics |
URL | https://www.nber.org/papers/w24322 |
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/581995 |
推荐引用方式 GB/T 7714 | Atif R. Mian,Amir Sufi. Finance and Business Cycles: The Credit-Driven Household Demand Channel. 2018. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w24322.pdf(430KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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