Scientific Monographs, Bank of Finland
Essays on the limits of borrowing
Abstract: The aim of this research is to provide new insights about
the limits of borrowing. The second chapter contributes to the theory of
limits of borrowing by a study of LOLRs in an original model. The third
chapter introduces a new approach to test and measure the limits of
borrowing econometrically. It also contributes to the empirical
understanding of the limits of borrowing by applying the new approach to
test the cyclical behavior and the effects of regulation on the limits of
borrowing. The fourth chapter contributes to our understanding of the
effect of limits of borrowing on consumption. The fifth chapter yields new
insight about the effect of bank ownership on the limits of borrowing
during a financial crisis.
Keywords: credit constraints; lender of last resort; household finance; banking; (follow links to similar papers)
119 pages, November 26, 2012
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