国际清算银行：生产网络、营运资金、信贷额度和财务状况中的货币弹性（英文版）

The elastic supply of money through overdrafts and credit lines overcomes cash-in-advance constraints, enabling large-value payments without waiting for incoming cash. This elasticity is crucial in long supply chains, where cash-in-advance constraints could otherwise cause gridlock. In essence, money elasticity and the supply of working capital are two sides of the same coin, with undrawn credit lines serving as the operative link. This paper examines how shifts in financial conditions influe