Financial Technologies and the Effectiveness of Monetary Policy Transmission
نویسندگان
چکیده
This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore effects shocks change with regional-level FinTech adoption. Results indicate that adoption generally mitigates transmission real GDP, consumer prices, bank loans, housing prices. A subcategorical analysis shows muted is most pronounced in payment credit, compared insurance. The regulatory arbitrage competition between banks are possible mechanisms leading a mitigated
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ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2022
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.4177634