Journal Article

Credit controls: 1980

Abstract: Experience suggests that in times of rising inflation and interest rates, political support emerges for the use of credit controls. In the U.S., such controls were last used in 1980. This article examines the 1980 controls and argues that the program had unintended and unforeseen effects that contributed to the severity of the 1980 recession.

Keywords: Credit; Credit Control Act of 1969;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Economic Review

Publication Date: 1990

Volume: 76

Issue: Nov

Pages: 25-55