The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
The institutional memory hypothesis and the procyclicality of bank lending behavior
Open accessAbstract
Abstract We test a new hypothesis that may help explain the procyclicality of bank lending. The institutional memory hypothesis is driven by deterioration in the ability of loan officers over the bank's lending cycle that results in an easing of credit standards. We test this hypothesis using data from individual US banks over 1980–2000: over 200,000 bank-level observations on commercial loan growth, over 2,000,000 loan-level observations on interest rate premiums, and over 2000 bank-level observations on credit standards and loan spreads from bank management survey responses. The empirical analysis supports the hypothesis, although there are differences by bank size class.
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Citations
Cites
Credit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
Inside the black box: the credit channel of monetary policy transmission
Bernanke, B. S., & Gertler, M. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.27 · Cited by 4,211
The financial accelerator, and the flight to quality
Bernanke, B., Gertler, M., & Gilchrist, S. (1996) · The Review of Economics and Statistics · doi:10.2307/2109844 · Cited by 2,351
Some evidence on the empirical significance of credit rationing
Berger, A. N., & Udell, G. F. (1992) · Journal of Political Economy · doi:10.1086/261851 · Cited by 550 · cited 1×
“…also be moderated, although not reversed, by banks imposing " sticky " loan pricing policies in which loan rates do not vary much with aggregate interest rates or credit conditions (e.g., Stiglitz and Weiss 1981, King 1986, Berger and Udell 1992, Petersen and Rajan 1995, Berlin and Mester 1999).”
Self-citationThe “credit crunch” and the availability of credit to small business
Hancock, D., & Wilcox, J. A. (1998) · Journal of Banking & Finance · doi:10.1016/s0378-4266(98)00040-5 · Cited by 247
Cited by
Competition and Financial Stability in the European Listed Banks
López-Penabad, M. C., Iglesias-Casal, A., & Neto, J. F. S. (2021) · Sage Open · doi:10.1177/21582440211032645 · Cited by 39
Metadata
- Authors
- Berger, A. N., & Udell, G. F.
- Venue
- Journal of Financial Intermediation
- Publisher
- Elsevier BV
- Published
- 2004-10
- Volume
- 13
- Issue
- 4
- Pages
- 458-495
- ISSN
- 1042-9573 (ISSN-L)
- OpenAlex
- W2250522695
- Cited by
- 580
- References
- 5
- FWCI
- 19.74
- Type
- journal article
- Language
- en
- Open access
- green
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- Berger, A. N., & Udell, G. F. (2004). The institutional memory hypothesis and the procyclicality of bank lending behavior. Journal of Financial Intermediation. https://doi.org/10.1016/j.jfi.2004.06.006
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
