Creditor protection and financial cycles
We develop a model in which the elasticity of credit to exogenous shocks depends on creditor rights regulations. We show that an increase in creditor protection reduces the elasticity of credit supply to exogenous shocks, and hence the amplitude of the credit cycle. Using an extended set of a measur...
| Autores principales: | , |
|---|---|
| Formato: | Objeto de conferencia |
| Lenguaje: | Inglés |
| Publicado: |
2001
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| Materias: | |
| Acceso en línea: | http://sedici.unlp.edu.ar/handle/10915/3776 http://www.depeco.econo.unlp.edu.ar/jemi/2001/trabajo8.pdf |
| Aporte de: |
| id |
I19-R120-10915-3776 |
|---|---|
| record_format |
dspace |
| institution |
Universidad Nacional de La Plata |
| institution_str |
I-19 |
| repository_str |
R-120 |
| collection |
SEDICI (UNLP) |
| language |
Inglés |
| topic |
Ciencias Económicas ciclo económico crédito |
| spellingShingle |
Ciencias Económicas ciclo económico crédito Galindo, Arturo Micco, Alejandro Creditor protection and financial cycles |
| topic_facet |
Ciencias Económicas ciclo económico crédito |
| description |
We develop a model in which the elasticity of credit to exogenous shocks depends on creditor rights regulations. We show that an increase in creditor protection reduces the elasticity of credit supply to exogenous shocks, and hence the amplitude of the credit cycle. Using an extended set of a measure of creditor rights protection in the spirit of La Porta et al. (1998), we find that stricter creditor rights regulations not only increase the breadth of the credit market but also reduce the volatility of the credit cycle. |
| format |
Objeto de conferencia Objeto de conferencia |
| author |
Galindo, Arturo Micco, Alejandro |
| author_facet |
Galindo, Arturo Micco, Alejandro |
| author_sort |
Galindo, Arturo |
| title |
Creditor protection and financial cycles |
| title_short |
Creditor protection and financial cycles |
| title_full |
Creditor protection and financial cycles |
| title_fullStr |
Creditor protection and financial cycles |
| title_full_unstemmed |
Creditor protection and financial cycles |
| title_sort |
creditor protection and financial cycles |
| publishDate |
2001 |
| url |
http://sedici.unlp.edu.ar/handle/10915/3776 http://www.depeco.econo.unlp.edu.ar/jemi/2001/trabajo8.pdf |
| work_keys_str_mv |
AT galindoarturo creditorprotectionandfinancialcycles AT miccoalejandro creditorprotectionandfinancialcycles |
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Repositorios |
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1764820471825563649 |