The Effects of Changes in Local Bank Health on Household Consumption
研究地方银行健康状况恶化如何减少家庭消费，尤其对遭遇负收入冲击且流动资产有限的家庭影响最大，为理解金融部门与实体经济联系提供新证据。
Abstract This study investigates the relationship between credit availability and household consumption using a novel approach to separate credit demand and supply. We find that a deterioration in local-bank health reduces household consumption, with the strongest effects occurring for households that are more likely to need credit—especially those experiencing a negative income shock and having limited liquid assets. The main contributions of the study are the use of an arguably exogenous measure of local-bank health and multifaceted indicators of constrained households. Our findings contribute to the discussion of the linkages between the financial sector and real economic activity.