Is there a financial accelerator in US banking? Evidence from the cyclicality of banks' price-cost margins

被引：20

作者：

Aliaga-Diaz, Roger ^{[2
]}

Olivero, Maria Pia ^{[1
]}

机构：

[1] Drexel Univ, Dept Econ, LeBow Coll Business, Philadelphia, PA 19104 USA

[2] Vanguard Grp Inc, Valley Forge, PA 19482 USA

来源：

ECONOMICS LETTERS | 2010年 / 108卷 / 02期

关键词：

Banks price-cost margins; RBC; Financial accelerator; OUTPUT;

D O I：

10.1016/j.econlet.2010.04.037

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that price-cost margins for US banks are consistently countercyclical, even after controlling for credit risk, the term structure of interest rates and monetary policy. This evidence supports the existence of a "financial accelerator" in US banking. (C) 2010 Elsevier B.V. All rights reserved.

引用

页码：167 / 171

页数：5

共 7 条

[1]

[Anonymous], 1998, 6455 NBER

[2] The financial accelerator and the flight to quality [J].

Bernanke, B ;

Gertler, M ;

Gilchrist, S .

REVIEW OF ECONOMICS AND STATISTICS, 1996, 78 (01) :1-15

[3]

BERNANKE B, 1989, AM ECON REV, V79, P14

[4]

BERNANKE BS, 1992, AM ECON REV, V82, P901

[5]

Coleman WJ, 1995, J MONEY CREDIT BANK, V27, P1387, DOI 10.2307/2078057

[6] The comovement between output and prices [J].

den Haan, WJ .

JOURNAL OF MONETARY ECONOMICS, 2000, 46 (01) :3-30

[7] Prices, output, and hours: An empirical analysis based on a sticky price model [J].

Rotemberg, JJ .

JOURNAL OF MONETARY ECONOMICS, 1996, 37 (03) :505-533

← 1 →