Dell'Ariccia, Giovanni; Garibaldi, Pietro - In: Review of Economic Studies 72 (2005) 3, pp. 665-685
The paper estimates gross credit flows for the U.S. banking system between 1979 and 1999 and shows that sizable gross flows coexist at any phase of the cycle, even within narrowly defined loan categories, bank size categories, and regional units. To investigate the macroeconomic dimensions of...
