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

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; in revised form: 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)
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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.
Keywords: loan officer survey; quantity rationing of credit; vector autoregression (VAR)

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MDPI and ACS Style

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

AMA Style

Waters GA. Quantity versus Price Rationing of Credit: An Empirical Test. International Journal of Financial Studies. 2013; 1(3):45-53.

Chicago/Turabian Style

Waters, George A. 2013. "Quantity versus Price Rationing of Credit: An Empirical Test." Int. J. Financial Stud. 1, no. 3: 45-53.

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