Identifying credit crunches

This article emphasizes the role of nonprice rationing in credit crunches. It proposes a process for identifying credit crunches centered on the political economy of the period under study. The process is applied to the U.S. for the 1960-92 period, and a variable is constructed that indicates when credit crunches occurred. In addition, the article questions the conventional wisdom that Regulation Q was the primary cause of the 1960s credit crunches.

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Year of publication:	1993
Authors:	Owens, Raymond E. ; Schreft, Stacey L.
Institutions:	Federal Reserve Bank of Richmond
Subject:	Credit

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Extent:	text/html application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 93-02
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004993943