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Do Excess Reserves Reveal Credit Crunches?

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The anticipated economic recovery is haunted by the specter that banks, under pressure from regulators and shareholders, will make too few loans to reignite the economy. Like a phantom, this socalled credit crunch eludes attempts to pin it down, quantify it, or dissect it.

The anticipated economic recovery is haunted by the specter that banks, under pressure from regulators and shareholders, will make too few loans to reignite the economy. Like a phantom, this socalled credit crunch eludes attempts to pin it down, quantify it, or dissect it.


Suggested citation: Haubrich, Joseph G., 1991. "Do Excess Reserves Reveal Credit Crunches?" Federal Reserve Bank of Cleveland, Economic Commentary, 07.15.1991.

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