In Search of the Elusive Credit View: Testing for a Credit Channel in Modern Great Britain
研究了现代英国经济中金融部门的信贷表现，发现信贷市场中的债务和违约/清算问题会扰乱将资金引导至有效投资所需的实际金融服务生产。
An examination of the credit performance of the financial sector in the modern British economy, showing that problems in credit markets associated with debt and default/liquidation can disrupt the production of real financial services necessary to channel funds to efficient investment opportunities.