Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of Boston
Current Policy Perspectives
Credit supply disruptions: from credit crunches to financial crisis
Joe Peek
Eric S. Rosengren
Abstract

Events that transpired during the recent financial crisis highlight the important role that financial intermediaries still play in the economy, especially during economic downturns. While the breadth and severity of the financial crisis took most observers by surprise, it has renewed academic interest in understanding the effects on the real economy of both financial shocks and the changing nature of financial intermediation. This interest in the real effects of financial shocks highlights a literature that began more than 20 years ago associated with the bank credit crunch of the early 1990s. It is useful to reflect on what we thought we had learned from that research and how that research has helped to guide policy in the more recent crisis.


Download Full text
Cite this item
Joe Peek & Eric S. Rosengren, Credit supply disruptions: from credit crunches to financial crisis, Federal Reserve Bank of Boston, Current Policy Perspectives 15-5, 01 Oct 2015.
More from this series
JEL Classification:
Subject headings:
Keywords: financial crisis; credit availability; financial intermediaries; liquidity; shadow banking; financial innovations
For corrections, contact Catherine Spozio ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal