Ishikawa, Daisuke; Tsutsui, Yoshiro - In: Japan and the World Economy 28 (2013) C, pp. 41-52
In this paper, we aim to elucidate whether effects related to supply or demand contributed to the Japanese “credit crunch” in the 1990s. Using prefectural panel data, we estimate loan supply and demand functions and calculate their shifts. Our analysis reveals that demand-side effects...