Credit Supply Disruptions: From Credit Crunches to Financial Crisis

23 Pages Posted: 9 Nov 2015

See all articles by Joe Peek

Joe Peek

Federal Reserve Banks - Federal Reserve Bank of Boston

Eric S. Rosengren

Federal Reserve Bank of Boston - Supervision and Regulation

Multiple version iconThere are 2 versions of this paper

Date Written: 2015-10-01

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.

Keywords: financial crisis, credit availability, financial intermediaries, liquidity, shadow banking, financial innovations

JEL Classification: E44, E51, G21, G23, G28

Suggested Citation

Peek, Joe and Rosengren, Eric S., Credit Supply Disruptions: From Credit Crunches to Financial Crisis (2015-10-01). Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 15-5. Available at SSRN: https://ssrn.com/abstract=2687395

Joe Peek (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States

Eric S. Rosengren

Federal Reserve Bank of Boston - Supervision and Regulation ( email )

600 Atlantic Avenue
P.O. Box 2076
Boston, MA 02210
United States
617-973-3090 (Phone)
617-973-3219 (Fax)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
67
Abstract Views
544
rank
354,184
PlumX Metrics