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Keywords:Credit 

Journal Article
Financial instruments for mitigating credit risk

FRBSF Economic Letter

Conference Paper
A comparison of small business finance in two Chicago minority neighborhoods

Proceedings , Paper 780

Working Paper
Credit market imperfections and the heterogeneous response of firms to monetary shocks

This paper assesses the bank-lending channel interpretation of evidence on the heterogeneous response of firms to monetary shocks. To do so I develop a quantitative general equilibrium model of the bank-lending channel with imperfect credit markets. The calibrated model's steady state supports a common identification strategy adopted in the literature: small firms are credit constrained and large firms are not. For some parameter values the model reproduces the cyclical observations viewed as supporting the lending view of the monetary transmission mechanism and for others it does not. The ...
Working Paper Series, Macroeconomic Issues , Paper 96-23

Working Paper
The role of credit market imperfections in the monetary transmission mechanism: arguments and evidence

Finance and Economics Discussion Series , Paper 93-5

Working Paper
Bank Ownership, Lending, and Local Economic Performance During the 2008-2010 Financial Crisis

While the finance literature often equates government banks with political capture and capital misallocation, these banks can help mitigate financial shocks. This paper examines the role of Brazil?s government banks in preventing a recession during the 2008-2010 financial crisis. Government banks in Brazil provided more credit, which offset declines in lending by private banks. Areas in Brazil with a high share of government banks experienced increases in lending, production, and employment during the crisis compared to areas with a low share of these banks. We find no evidence that lending ...
International Finance Discussion Papers , Paper 1099

Journal Article
Do excess reserves reveal credit crunches?

The author finds that because the level of excess reserves depends directly on the Federal Reserve's monetary policy stance, this measure is generally a poor indicator of credit availability.
Economic Commentary , Issue Jul

Journal Article
Credit veils and credit realities

Quarterly Review , Volume 18 , Issue Spr , Pages 83-85

Journal Article
Supplying the credit needs of business in the transition and early postwar period

Federal Reserve Bulletin , Issue May

Journal Article
Recent credit and monetary developments

Federal Reserve Bulletin , Issue Feb , Pages 101-112

Journal Article
Are SBA loan guarantees desirable?

Over the last 10 years, the Small Business Administration has been responsible for well over $100 billion in small business credit extensions, more than any single private lender. This Commentary explores the motivations for such a large investment of taxpayer dollars.
Economic Commentary , Issue Sep

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