Finance and business cycles: the credit-driven household demand channel
Every major financial crisis leaves its unique footprint on economic thought. The early banking crises taught us the importance of financial sector liquidity and the lender of last resort. The Great Depression highlighted the devastating effects of bank failures and the need for counter-cyclical fis...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass
National Bureau of Economic Research
February 2018
|
| Schriftenreihe: | NBER working paper series
24322 |
| Online-Zugang: | UER01 Volltext Volltext |
| Zusammenfassung: | Every major financial crisis leaves its unique footprint on economic thought. The early banking crises taught us the importance of financial sector liquidity and the lender of last resort. The Great Depression highlighted the devastating effects of bank failures and the need for counter-cyclical fiscal and monetary policy. The Great Recession has brought to the surface the importance of credit-driven business cycles that operate through household demand. We discuss empirical evidence accumulated over the last decade supporting this view, and we also describe accompanying theoretical work that helps define these concepts |
| Beschreibung: | 1 Online-Ressource (46 Seiten) Diagramme |
| Format: | Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files |
| DOI: | 10.3386/w24322 |
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| spelling | Mian, Atif 1975- Verfasser (DE-588)12873535X aut Finance and business cycles the credit-driven household demand channel Atif R. Mian, Amir Sufi Cambridge, Mass National Bureau of Economic Research February 2018 1 Online-Ressource (46 Seiten) Diagramme txt rdacontent c rdamedia cr rdacarrier NBER working paper series 24322 Every major financial crisis leaves its unique footprint on economic thought. The early banking crises taught us the importance of financial sector liquidity and the lender of last resort. The Great Depression highlighted the devastating effects of bank failures and the need for counter-cyclical fiscal and monetary policy. The Great Recession has brought to the surface the importance of credit-driven business cycles that operate through household demand. We discuss empirical evidence accumulated over the last decade supporting this view, and we also describe accompanying theoretical work that helps define these concepts Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Sufi, Amir 1977- Sonstige (DE-588)129799475 oth National Bureau of Economic Research Sonstige (DE-588)39157-8 oth NBER working paper series 24322 (DE-604)BV013267645 24322 http://www.nber.org/papers/w24322 Verlag Volltext https://doi.org/10.3386/w24322 Verlag Volltext |
| spellingShingle | Mian, Atif 1975- Finance and business cycles the credit-driven household demand channel NBER working paper series |
| title | Finance and business cycles the credit-driven household demand channel |
| title_auth | Finance and business cycles the credit-driven household demand channel |
| title_exact_search | Finance and business cycles the credit-driven household demand channel |
| title_exact_search_txtP | Finance and business cycles the credit-driven household demand channel |
| title_full | Finance and business cycles the credit-driven household demand channel Atif R. Mian, Amir Sufi |
| title_fullStr | Finance and business cycles the credit-driven household demand channel Atif R. Mian, Amir Sufi |
| title_full_unstemmed | Finance and business cycles the credit-driven household demand channel Atif R. Mian, Amir Sufi |
| title_short | Finance and business cycles |
| title_sort | finance and business cycles the credit driven household demand channel |
| title_sub | the credit-driven household demand channel |
| url | http://www.nber.org/papers/w24322 https://doi.org/10.3386/w24322 |
| volume_link | (DE-604)BV013267645 |
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