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OECD Working Papers / Documents de travail de l'OCDE
OECD Economics Department Working Papers / Documents de travail du Département des Affaires économiques de l’OCDE
No. 635, 08/09/2008, English, 20 pages, doi: 10.1787/236860073636
Quantifying the Effect of Financial Conditions on US Activity
Stéphanie Guichard1; David Turner1
1: OECD, France
This paper constructs a broad measure of financial conditions for the United States which suggests
that since the onset of the credit crisis there has been a marked tightening in financial conditions, despite a
substantial easing of policy rates ... more
Keywords
:
credit channel, credit crunch, financial conditions index, interest rate spreads, macro-financial linkages
Ce papier propose une mesure des conditions financières au sens large pour les États-Unis suggérant
que depuis le début de la crise du crédit, les conditions financières se sont fortement resserrées malgré ... plus
Mots-clés
:
écarts de taux d’intérêt, canal du crédit, contraction du crédit, indice des conditions financières, relations macro-financières
JEL Classification:
E32 : Macroeconomics and Monetary Economics / Prices, Business Fluctuations, and Cycles / Business Fluctuations; Cycles E44 : Macroeconomics and Monetary Economics / Money and Interest Rates / Financial Markets and the Macroeconomy E47 : Macroeconomics and Monetary Economics / Money and Interest Rates / Forecasting and Simulation E51 : Macroeconomics and Monetary Economics / Monetary Policy, Central Banking, and the Supply of Money and Credit / Money Supply; Credit; Money Multipliers  |
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