The Capital Crunch: Neither a Borrower nor a Lender Be
Joe Peek and
Eric Rosengren ()
Journal of Money, Credit and Banking, 1995, vol. 27, issue 3, 625-38
Abstract:
The dramatic reduction in the growth rate of bank lending associated with the 1990-91 recession, particularly in New England, has evoked claims by many observers of a credit crunch. To overcome the difficulty in determining whether the observed slow credit growth is a demand or supply phenomenon, the authors examine a cross-section of banks in New England that have experienced the same economic downturn, effectively controlling for changes in demand. They find empirical support for a capital crunch, whereby poorly capitalized institutions shrink more than their better-capitalized peers, indicating an independent role for credit supply. Copyright 1995 by Ohio State University Press.
Date: 1995
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Related works:
Working Paper: The Capital Crunch: Neither A Borrower Nor A Lender Be (1993) 
Working Paper: The capital crunch: neither a borrower nor a lender be (1991) 
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:27:y:1995:i:3:p:625-38
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