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Milton Friedman and Anna J. Schwartz published A Monetary History of the United States: 1867 to 1960 with Princeton University Press in 1963, to critical acclaim. Since then the book's reputation has grown and it clearly has become one of the most influential volumes in economics in the...
Persistent link: https://www.econbiz.de/10010659359
policy interest rate cuts and unconventional policy measures to higher asset prices and lower cost of credit in and outside … willingness to supply credit. The paper also stresses that the monetary accommodation risks having unintended negative … conventionnelles de politique monétaire à des prix d’actifs plus élevés et un coût du crédit plus faible à l’intérieur et à l …
Persistent link: https://www.econbiz.de/10011276812
Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …
Persistent link: https://www.econbiz.de/10011144022
Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …
Persistent link: https://www.econbiz.de/10011145419
The Romanian banking system is on the edge of becoming a mature one. The crisis could be the opportunity to make the final transformation. Even if the last year represented a decrease of its profitability, the chance to be closer to the Western banking systems is still on the horizon. The main...
Persistent link: https://www.econbiz.de/10008462787
The historical analysis of US regional growth is improved by augmenting existing estimates of state personal income per capita, extending previous studies of convergence across states, and more broadly, offering an improved basis for interpreting other issues in regional development such as the...
Persistent link: https://www.econbiz.de/10008552893
from an initial focus in 1913 on financial stability, to fiscal financing in World War II and its aftermath, to a strong …
Persistent link: https://www.econbiz.de/10010659362
This paper examines the relationship between the structure of banking markets and economic growth using a new dataset on manufacturing industry-level growth rates and banking market concentration for U.S. states during 1899-1929--a period when the manufacturing sector was expanding rapidly and...
Persistent link: https://www.econbiz.de/10008610952
.S. economic and financial history, which generate variation in the data that aids in identifying credit supply and demand shocks …. We identify these shocks within MS-BVARs by tying credit supply and demand movements to inside money and its …
Persistent link: https://www.econbiz.de/10011201582
growth rate than the oil and gold prices. The long-run co-movements are documented especially around the World War II …
Persistent link: https://www.econbiz.de/10011267816