Consumption and credit constraints: International evidence

Journal of Monetary Economics - Tập 40 - Trang 207-238 - 1997
Philippe Bacchetta1,2,3, Stefan Gerlach3,4
1Studienzentrum Gerzensee, Switzerland
2Université de Lausanne, Switzerland
3Centre for Economic Policy Research, London, UK
4Bank for International Settlements, Basle, Switzerland

Tài liệu tham khảo

Alessie, 1997, Intertemporal consumption, durables and liquidity constraints: A Cohort analysis, European Economic Review, 41, 37, 10.1016/0014-2921(95)00128-X Antzoulatos, 1994, Credit rationing and rational behavior, Journal of Money, Credit, and Banking, 26, 182, 10.2307/2077904 Antzoulatos, 1997, Consumer credit and consumption forecasts, International Journal of Forecasting, 26 Bacchetta, 1996, Do capital market imperfections exacerbate output fluctuations?, CEPR Discussion Paper No. 1422 Bayoumi, 1993, Financial deregulation and consumption in the United Kingdom, Review of Economics and Statistics, 75, 536, 10.2307/2109471 Bayoumi, 1989, The effects of financial deregulation on consumption, IMF Working Paper 89/88. Bernanke, 1995, Inside the black box: the credit channel of monetary policy transmission, Journal of Economic Perspectives, 9, 27, 10.1257/jep.9.4.27 BIS, 1992. 62nd Annual Report, Basle. Blundell-Wignall, 1992, Financial liberalization and consumption behavior, Reserve Bank of Australia Research Discussion Paper No. 9209 Blundell-Wignall, 1995, Financial Liberalization and the Permanent Income Hypothesis, The Manchester School, LXIII, 125, 10.1111/j.1467-9957.1995.tb00273.x Campbell, 1989, Consumption, income, and interest rates: reinterpreting the time series evidence Campbell, 1990, Permanent income, current income, and consumption, Journal of Business and Economic Statistics, 8, 265, 10.2307/1391964 Campbell, 1991, The response of consumption to income — a cross-country investigation, European Economic Review, 35, 723, 10.1016/0014-2921(91)90033-F Carroll, 1997, Unemployment expectations, jumping (S,s) triggers, and household balance sheets, 10.3386/w6081 Chah, 1995, Liquidity constraints and intertemporal consumer optimization: theory and evidence from durable goods, Journal of Money, Credit, and Banking, 27, 272, 10.2307/2077863 Chow, 1983 Deaton, 1991, Saving and liquidity constraints, Econometrica, 59, 1121, 10.2307/2938366 Deaton, 1992 de Brouwer, 1996, Consumption and liquidity constraints in Australia and East Asia: does financial integration matter? Duca, 1995, Credit availability, bank consumer lending, and consumer durables, Federal Reserve Bank of Dallas Working Paper No. 95-14 Hall, 1978, Stochastic implications of the life cycle-permanent income hypothesis: theory and evidence, Journal of Political Economy, 86, 971, 10.1086/260724 Hamdani, 1994, Survey evidence on credit tightening and the factors behind the recent credit crunch Harvey, 1989 Hayashi, 1987, Tests for liquidity constraints: a critical survey and some new observations, 91 Jappelli, 1989, Consumption and capital market imperfections: an international comparison, American Economic Review, 1088 King, 1986, Capital market ‘imperfections’ and the consumption function, Scandinavian Journal of Economics, 88, 59, 10.2307/3440274 Lawrance, 1995, Consumer default and the life cycle model, Journal of Money. Credit, and Banking, 27, 939, 10.2307/2077781 Ludvigson, 1996, Consumption and credit: a model of time-varying liquidity constraints, Federal Reserve Bank of New York Research Paper No. 9624 Mankiw, 1982, Hall's consumption hypothesis and durable goods, Journal of Monetary Economics, 10, 417, 10.1016/0304-3932(82)90036-8 McCarthy, 1996 McKiernan, 1996, Consumption and the credit market, Economics Letters, 51, 83, 10.1016/0165-1765(95)00801-2 Muellbauer, 1995, The consumption function: a theoretical and empirical overview, 221 Scott, 1996, Consumption, ‘credit crunches’ and financial deregulation, CEPR Discussion Paper No. 1389 Takeda, 1992, The liberalization of Japan's financial markets: some major themes Wilcox, 1989, Liquidity constraints on consumption: the real effects of ‘real’ lending policies, 39 Wirjanto, 1995, Aggregate consumption behavior and liquidity constraints: the Canadian evidence, Canadian Journal of Economics, 28, 1135, 10.2307/136139 Working, 1960, Note of the correlation of first differences of averages in a random chain, Econometrica, 28, 916, 10.2307/1907574