Duca, John V.; DiMartino, Danielle; Renier, Jessica J. - In: Economic Letter 4 (2009)
The current recession has deepened because of shrinking credit flows from banks, nonbank lenders and securities markets. This contrasts with the early 1990s, when new bonds and commercial paper cushioned a bank credit crunch, and with the high-tech investment bust of the early 2000s, when steady...