Quantity versus Price Rationing of Credit: An Empirical Test
One proxy of price rationing of credit is an aggregation of information on interest rates, while loan officer survey data measures quantity rationing of credit, meaning some borrowers are denied loans. The latter Granger causes real GDP but the former does not. The loan officer survey is a better le...
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| Format: | Article |
| Language: | English |
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MDPI AG
2013-07-01
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| Series: | International Journal of Financial Studies |
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| Online Access: | http://www.mdpi.com/2227-7072/1/3/45 |