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来源类型Working Paper
规范类型报告
DOI10.3386/w24322
来源IDWorking 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
URLhttps://www.nber.org/papers/w24322
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/581995
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GB/T 7714
Atif R. Mian,Amir Sufi. Finance and Business Cycles: The Credit-Driven Household Demand Channel. 2018.
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