caa a22 4500 397572719 CHVBK 20180308164846.0 cr unu---uuuuu 161202e199607 xx s 000 0 eng 10.1093/oxfordjournals.cje.a013629 doi (NATIONALLICENCE)oxford-10.1093/oxfordjournals.cje.a013629 Dow Sheila C. University of Stirling Horizontalism: a critique [Elektronische Daten] [Sheila C. Dow] 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. © 1996 Academic Press Limited Articles nationallicence Cambridge Journal of Economics Oxford University Press 20/4(1996-07), 497-508 0309-166X 20:4<497 1996 20 cameco https://doi.org/10.1093/oxfordjournals.cje.a013629 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1093/oxfordjournals.cje.a013629 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Dow Sheila C. University of Stirling NATIONALLICENCE 773 0- Cambridge Journal of Economics Oxford University Press 20/4(1996-07), 497-508 0309-166X 20:4<497 1996 20 cameco Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford