Causes and Consequences of the 1989-92 Credit Slowdown: Overview and Perspective

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Quarterly Review

Causes and Consequences of the 1989-92 Credit Slowdown: Overview and Perspective

Winter 1993-94Volume 18, Number 4

Author: M. A. Akhtar

This article is the overview essay for a volume, Studies on Causes and Consequences of the 1989-92 Credit Slowdown, published by the Federal Reserve Bank of New York. The twelve papers in the volume cover a broad range of issues concerning the credit slowdown, including the importance of credit demand relative to credit supply factors, the role of bank and nonbank credit sources, and the impact of credit supply shifts on the economy. This essay provides a conceptual framework for the analysis of credit issues, reviews the evidence presented in the volume, and offers a perspective on the implications for monetary policy.

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23 pages / 2,495 kb

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