THE ROLE OF CREDIT MARKET IMPERFECTIONS IN THE MONETARY TRANSMISSION MECHANISM - ARGUMENTS AND EVIDENCE

被引：257

作者：

GERTLER, M ^{[1
]}

GILCHRIST, S ^{[1
]}

机构：

[1] FED RESERVE BOARD,WASHINGTON,DC

来源：

SCANDINAVIAN JOURNAL OF ECONOMICS | 1993年 / 95卷 / 01期

关键词：

D O I：

10.2307/3440134

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Recently, a debate has resurfaced on whether and how credit market imperfections may play a role in the transmission of monetary policy. This new literature attempts to identify the effects of credit market imperfections by analyzing the response to tight money of different forms of credit and different types of borrowers. The arguments and evidence in this literature are reviewed and some new evidence is presented. There is a striking difference in response of credit flows to small versus large borrowers, potentially consistent with the view that credit market imperfections help propagate the impact of monetary policy.

引用

页码：43 / 64

页数：22

共 36 条

[1] BACH GL, 1960, AM ECON REV, V50, P53
[2] FINANCIAL FRAGILITY AND ECONOMIC-PERFORMANCE
BERNANKE, B
GERTLER, M
[J]. QUARTERLY JOURNAL OF ECONOMICS, 1990, 105 (01) : 87 - 114
[3] BERNANKE B, 1989, AM ECON REV, V79, P14
[4] BERNANKE BS, 1983, AM ECON REV, V73, P257
[5] BERNANKE BS, 1992, AM ECON REV, V82, P901
[6] BERNANKE BS, 1988, AM ECON REV, V78, P435
[7] BRAINARD WC, 1963, AM EC REV PAPERS P, V53, P383
[8] FIRM HETEROGENEITY, INTERNAL FINANCE, AND CREDIT RATIONING
CALOMIRIS, CW
HUBBARD, RG
[J]. ECONOMIC JOURNAL, 1990, 100 (399) : 90 - 104
[9] ECKSTEIN O, 1986, AM BUSINESS CYSLE PO
[10] FAZZARI SM, 1988, BROOKINGS PAPERS EC, V1, P141, DOI DOI 10.2307/2534426

← 1 2 3 4 →