Craig, Ben R. (contributor); … - 2006
formally, letting Li;t denote outstanding loans of bank i in period t, we de ne:
Loan Creation: Ct = X
i;t
(Li;t Li;t 1)for … those i s:t:Li;t Li;t 1 > 0:
Loan Destruction: Dt = X
i;t
jLi;t Li;t 1jfor those i s:t:Li;t Li;t 1 < 0:
Gross Flow: Dt +Ct …’
series without Acceptances from 1984 to the present.3
3 An Illustrative Model
To help x ideas and further re ne the economic …