Identifying credit crunches

Raymond Owens and Stacey Schreft

No 93-02, Working Paper from Federal Reserve Bank of Richmond

Abstract: 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.

Keywords: Credit (search for similar items in EconPapers)
Date: 1993
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Citations: View citations in EconPapers (11)

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Related works:
Journal Article: IDENTIFYING CREDIT CRUNCHES (1995)
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