The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States
Abstract
The Japanese banking crisis provides a natural experiment to test whether a loan supply shock can affect real economic activity. Because the shock was external to U.S. credit markets, yet connected through the Japanese bank penetration of U.S. markets, this event allows us to identify an exogenous loan supply shock and ultimately link that shock to construction activity in U.S. commercial real estate markets. We exploit the variation across geographically distinct commercial real estate markets to establish conclusively that loan supply shocks emanating from Japan had real effects on economic activity in the United States. (JEL E44, F36)
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Citations
Cites
Some evidence on the uniqueness of bank loans
James, C. (1987) · Journal of Financial Economics · doi:10.1016/0304-405x(87)90003-1 · Cited by 1,610
The role of banks in reducing the costs of financial distress in Japan
Hoshi, T., Kashyap, A., & Scharfstein, D. (1990) · Journal of Financial Economics · doi:10.1016/0304-405x(90)90021-q · Cited by 1,213
The impact of monetary policy on bank balance sheets
Kashyap, A. K., & Stein, J. C. (1995) · Carnegie-Rochester Conference Series on Public Policy · doi:10.1016/0167-2231(95)00032-u · Cited by 1,130
Cited by
The Collateral Channel: How Real Estate Shocks Affect Corporate Investment
Chaney, T., Sraer, D., & Thesmar, D. (2012) · American Economic Review · doi:10.1257/aer.102.6.2381 · Cited by 977
Does Credit Competition Affect Small‐Firm Finance?
RICE, T., & STRAHAN, P. E. (2010) · The Journal of Finance · doi:10.1111/j.1540-6261.2010.01555.x · Cited by 684
Credit Supply and the Price of Housing
Favara, G., & Imbs, J. (2015) · American Economic Review · doi:10.1257/aer.20121416 · Cited by 621
Bank liquidity creation and real economic output
Berger, A. N., & Sedunov, J. (2017) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2017.04.005 · Cited by 268
Bank Mergers and Crime: The Real and Social Effects of Credit Market Competition
GARMAISE, M. J., & MOSKOWITZ, T. J. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.00847.x · Cited by 254
Metadata
- Authors
- Peek, J., & Rosengren, E. S.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2000-03-01
- Volume
- 90
- Issue
- 1
- Pages
- 30-45
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2016839669
- Cited by
- 1,186
- References
- 3
- FWCI
- 25.39
- Type
- journal article
- Language
- en
- Open access
- closed
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