Ishikawa, Daisuke; Tsutsui, Yoshiro - Graduate School of Economics, Osaka University - 2008
The purpose of this paper is to elucidate whether the supply side played a crucial role in causing the credit crunch in Japan in the 1990s. To this end, we estimate the supply and demand functions using prefectural panel data from 1990 to 2001 and calculate the shifts of those functions. The...