Bordo, Michael D.; Rappoport, Peter; Schwartz, Anna Jacobson - 2021
composition of bank portfolios. According to the credit rationing view, equilibrium credit rationing in a world of asymmetric … institutional features of the national banking era. Most of the variation in bank loans is accounted for by loans secured by stock … the VAR model is greatly reduced, while the influence of money remains robust. The breakdown of the composition of bank …