GIV us some credit: estimating the macroeconomic effects of credit supply shocks

Created
Thu, 20/02/2025 - 20:00
Updated
Thu, 20/02/2025 - 20:00
Sam Christie and Aniruddha Rajan Sudden contractions in credit supply can trigger and amplify recessions – a reality made painfully clear by the 2008 global financial crisis (GFC). However, quantifying these real economic effects is challenging. In this post, we demonstrate a novel way to do so using Granular Instrumental Variables (GIV), focusing on the … Continue reading GIV us some credit: estimating the macroeconomic effects of credit supply shocks