Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155461
Authors: 
Acosta, Juan C.A.
Year of Publication: 
2016
Series/Report no.: 
CHOPE Working Paper 2016-33
Abstract: 
This paper discusses the role played by NY Fed economist Robert Roosa and Paul Samuelson in the emergence of the literature on credit rationing at the beginning of the 1950s. I argue that, contrary to the story one can find in the technical surveys, an intermediate step between Roosa and the models typical of the literature on credit rationing post-1960 took place and was of significant importance in reframing a practitioner's argument into something that could be more easily tackled by economists. Samuelson played a key role in this process and brought out the importance of credit rationing as a phenomenon that should be explained as the outcome of rational agents' behavior.
Subjects: 
Samuelson
Roosa
credit rationing
banks
monetary policy
JEL: 
B22
B26
E43
E50
G20
Document Type: 
Working Paper

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