How does the interaction of macroprudential and monetary policies affect cross-border bank lending?
نویسندگان
چکیده
We combine a rarely accessed BIS database on cross-border lending flows with cross-country data macroprudential regulations. find significant interactions between the monetary policy of major international currency issuers (USD, EUR and JPY) policies in source (home) banking systems. Consistent bank channel, easing home country amplifies effect issuers' lending. For instance, UK negative impact US tightening USD-denominated outflows from banks. Vice versa, tighter mitigates these effects.
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 2021
ISSN: ['0022-1996', '1873-0353']
DOI: https://doi.org/10.1016/j.jinteco.2021.103521