The Loan Puzzle. A Study of Loans to Different Groups in the USA.

We study loans from banking and non-banking lenders to different groups of borrowers in order to unveil significant differences on how those respond to a shock and evaluate possible alternative explanations for such differences. The objective is to gain insights useful to explain the loan puzzle: the unexpected increase of loans to firms in case of a monetary tightening. The analysis is based on a vector autoregression, estimated using Bayesian techniques, and has as object the US economy.

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Year of publication:	2020
Authors:	Cafiso, Gianluca
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	loan puzzle \| households \| corporate businesses \| non-corporate businesses \| VAR \| Bayesian estimation

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Series:	CESifo Working Paper ; 8175
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1694038440 [GVK] hdl:10419/216571 [Handle] RePec:ces:ceswps:_8175 [RePEc]
Classification:	E44 - Financial Markets and the Macroeconomy ; E51 - Money Supply; Credit; Money Multipliers ; G20 - Financial Institutions and Services. General ; G21 - Banks; Other Depository Institutions; Mortgages ; C11 - Bayesian Analysis
Source:	EconStor

Persistent link: https://www.econbiz.de/10012207940