Abstract
The interaction between the financial and the real sectors of the econ- omy has been studied intensively in the past- We may refer to different strands of the literature, such as the correlation between money and national income (Friedman and Schwartz, 1963); the non-monetary effects of the banking crises in the propagation of the Great Depres- sion (Bernanke, 1983); the links between money, credit and GDP (Sims, 1972; Bernanke and Blinder, 1988, 1992); and the bank lending channel (Kashyapetal., 1993).
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© 2014 Riccardo De Bonis, Luigi Infante and Francesco Paternò
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Bonis, R.D., Infante, L., Paternò, F. (2014). Determinants and Consequences of Credit Tightening: An Analysis of the United States and the Euro Area. In: Winkler, B., Riet, A.v., Bull, P. (eds) A Flow-of-Funds Perspective on the Financial Crisis. Palgrave Studies in Econmics and Banking. Palgrave Macmillan, London. https://doi.org/10.1057/9781137352989_7
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