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Int. J. Financial Stud. 2013, 1(3), 45-53; doi:10.3390/ijfs1030045

Quantity versus Price Rationing of Credit: An Empirical Test

Department of Economics, Illinois State University, Campus Box 4200, Normal, IL 61790-4200, USA
Received: 21 May 2013 / Revised: 18 June 2013 / Accepted: 19 June 2013 / Published: 1 July 2013
(This article belongs to the Special Issue Recent Developments in Finance and Banking after the 2008 Crisis)
View Full-Text   |   Download PDF [164 KB, uploaded 1 July 2013]   |  

Abstract

One proxy of price rationing of credit is an aggregation of information on interest rates, while loan officer survey data measures quantity rationing of credit, meaning some borrowers are denied loans. The latter Granger causes real GDP but the former does not. The loan officer survey is a better leading indicator of credit market conditions that affect real activity. View Full-Text
Keywords: loan officer survey; quantity rationing of credit; vector autoregression (VAR) loan officer survey; quantity rationing of credit; vector autoregression (VAR)
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).

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Waters, G.A. Quantity versus Price Rationing of Credit: An Empirical Test. Int. J. Financial Stud. 2013, 1, 45-53.

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Int. J. Financial Stud. EISSN 2227-7072 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
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