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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Horizontalism: A critique
Authors: Dow, Sheila
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Issue Date: Jul-1996
Publisher: Oxford University Press
Citation: Dow S (1996) Horizontalism: A critique, Cambridge Journal of Economics, 20 (4), pp. 497-508.
Abstract: This article offers a critique of the horizontalist view of money that banks are passive in the face of credit demand. It is argued that banks' liquidity preference influences their responsiveness to the demand for credit. Their liquidity preference is expressed in risk assessment (understood in terms of Keynes' theory of uncertainty). It is argued that rationing in the sense of adverse changes in risk assessment occurs systematically in the downturn of the business cycle. Systematic rationing also occurs with respect to particular classes of borrowers; the focus here is on the case of small firms.
Type: Journal Article
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Economics

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