Effects of Credit Expansions on Stock Market Booms and Busts
收藏NBER2018-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w24586
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资源简介：
Household credit expansions often coincide with high stock-market valuations, but identifying a causal relationship remains challenging. Because unconstrained arbitrageurs play a pivotal role in stock-pricing, the impact of credit is not obvious (despite evidence in less-liquid housing markets).
提供机构：
美国国家经济研究局
创建时间：
2018-05-01
