THE REAL EFFECTS OF LIQUIDITY DURING THE FINANCIAL CRISIS: EVIDENCE FROM AUTOMOBILES

Illiquidity in short-term credit markets during the financial crisis might have severely curtailed the supply of nonbank consumer credit. Using a new data set linking every car sold in the United States to the credit supplier involved in each transaction, we find that the collapse of the asset-backe...

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Bibliographic Details
Published in:	The Quarterly journal of economics 2017-02, Vol.132 (1), p.317-365
Main Authors:	Benmelech, Efraim, Meisenzahl, Ralf R., Ramcharan, Rodney
Format:	Article
Language:	English
Subjects:	2002-2013 Automobile industry Automobile loans Automobile sales Automobiles Bond markets Consumer credit Credit Economic crisis Industrial enterprises Leasing Liquidity Markets Marktliquidität Motor car industry Motor cars Nonbanks Sales Short term Studies United States
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Online Access:	Get full text
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