Browsing MIT Dept. of Economics Working Papers Series by Author "Alexandre, Mas"
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Do Credit Market Shocks Affect the Real Economy? Quasi-Experimental Evidence from the Great Recession and 'Normal' Economic Times
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2012-11-30)We estimate the effect of the sharp reduction in credit supply following the 2008 financial crisis on the real economy. The identification strategy relies on the substantial heterogeneity in the degree to which banks cut ...
