OECD Economics Department Working Papers

Quantifying the Effect of Financial Conditions on US Activity

DOI:https://dx.doi.org/10.1787/236860073636

This paper constructs a broad measure of financial conditions for the United States which suggests that since the onset of the credit crisis there has been a marked tightening in financial conditions, despite a substantial easing of policy rates and a depreciation of the dollar. This measure of...



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