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Cross-Sectional Financial Conditions, Business Cycles and The Lending Channel
This dataset documents business cycle properties of the full cross-sectional distributions of U.S. stock returns and credit spreads from financial and nonfinancial firms. The skewness of returns of financial firms (SRF) predicts economic activity, while being a barometer for lending conditions. SRF also affects firm-level investment beyond firms' balance sheets, and adverse SRF shocks lead to macroeconomic downturns with tighter lending conditions. SRF is based on U.S. stock returns as well as corporate credit spreads.
Complete Metadata
| bureauCode |
[ "920:00" ] |
|---|---|
| identifier | FRBC0005 |
| landingPage | https://www.federalreserve.gov/econres/ifdp/cross-sectional-financial-conditions-business-cycles-and-the-lending-channel.htm |
| programCode |
[ "920:000" ] |
