Nobel Lecture: Banking, Credit, and Economic Fluctuations
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DOI: 10.1257/aer.113.5.1143
Abstract: Credit markets, including the market for bank loans, are characterized by imperfect and asymmetric information. These informational frictions can interact with other economic forces to produce periods of credit-market stress, in which intermediation is unusually… read more here.
Keywords: lecture banking; banking credit; credit; credit markets ... See more keywords