The credit supply channel of monetary policy: evidence from a FAVAR model with sign restrictions
نویسندگان
چکیده
منابع مشابه
Monetary Policy and Credit Supply Shocks
The depth and duration of the 2007–09 recession serves as a powerful reminder of the real consequences of financial shocks. Although channels through which disruptions in financial markets can affect economic activity are relatively well understood from a theoretical perspective, assessing their quantitative implications for the real economy remains a considerable challenge. This paper examines...
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The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years. There seems to be a consensus that financial globalization has had a "discipline effect" on monetary policy, because it has reduced the returns from using monetary policy to stabilize the output. As a result, monetary policy over recent years has placed more emphasis o...
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In recent years, considerable research has they take as evidence for a bank lending explored the role played by bank lending in channel. the transmission of monetary shocks. In conWe reexamine KSW's analysis. In contrast trast to the traditional Keynesian transmission to KSW's use of aggregate data, we analyze mechanism that operates strictly through inthe mix of bank and nonbank debt separatel...
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ژورنال
عنوان ژورنال: Empirical Economics
سال: 2019
ISSN: 0377-7332,1435-8921
DOI: 10.1007/s00181-019-01759-5