bank credit becomes relatively more expensive, reflecting the scarcity of bank equity. More generally, the model is …

bank credit becomes relatively more expensive, reflecting the scarcity of bank equity. More generally, the model is …

bank credit becomes relatively more expensive, reflecting the scarcity of bank equity. More generally, the model is …

bank credit becomes relatively more expensive, reflecting the scarcity of bank equity. More generally, the model is …

intervention policy successfully reduces credit, investment, and output volatility, along with substantial welfare gains when …

Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a … countercyclical movement in credit standards. Our analysis demonstrates that countercyclical fluctuations in credit standards work as … an amplifier of shocks to the economy. In particular, the existence of endogenous credit standards increases output …