Arbeitspapier
Credit supply and output volatility
The link between aggregate profits and investment has been widely analysed through the impact of profits on net worth and therefore the firm's ability to borrow, in the presence of credit market imperfections. How the business cycle is affected if profits also affect investment through an impact on savings and therefore the intermediary's ability to lend, is the topic of this paper. We find that the fluctuations in the supply of credit that result from this may significantly amplify output responses to shocks in comparison to a situation where the net worth mechanism operates alone.
- Sprache
-
Englisch
- Erschienen in
-
Series: Department of Economics Discussion Paper ; No. 09,04
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Financial Markets and the Macroeconomy
Money Supply; Credit; Money Multipliers
- Thema
-
business cycles
credit market imperfections
loan supply
Kreditmarkt
Kredit
Angebot
Konjunktur
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cantore, Cristiano
Satchi, Mathan
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Kent, Department of Economics
- (wo)
-
Canterbury
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:25 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Arbeitspapier
Beteiligte
- Cantore, Cristiano
- Satchi, Mathan
- University of Kent, Department of Economics
Entstanden
- 2009
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