haku: @indexterm UNEMPLOYMENT / yhteensä: 1236
viite: 277 / 1236
| Tekijä: | Asea, P. Blomberg, B. |
| Otsikko: | Lending cycles |
| Lehti: | Journal of Econometrics
1998 : MAR-APR, VOL. 83:1-2, p. 89-128 |
| Asiasana: | ECONOMICS CREDIT RATIONING UNEMPLOYMENT |
| Kieli: | eng |
| Tiivistelmä: | The authors investigate the lending behavior of banks by exploiting a rich panel data set on the contract terms of approximately two million commercial and industrial loans granted by 580 banks between 1977 and 1993. Using a Markov switching panel model they demonstrate that banks change their lending standards - from tightness to laxity - systematically over the cycle. They then use an efficient minimum chi-square estimator to examine the relationship between the cyclical component of aggregate unemployment and bank lending standards - from tightness to laxity - systematically over the cycle. |
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