Is There A Credit Channel For Monetary Policy
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Is There A Credit Channel For Monetary Policy
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Author : R. Glenn Hubbard
language : en
Publisher:
Release Date : 1994
Is There A Credit Channel For Monetary Policy written by R. Glenn Hubbard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Monetary policy categories.
This paper argues that the terms `money view' and `credit view' are not always well defined in theoretical and empirical debates over the transmission mechanism of monetary policy. Recent models of information and incentive problems in financial markets suggest the usefulness of decomposing the transmission mechanism into two parts: one related to effects of policy-induced changes on the overall level of real costs of funds, and one related to `financial accelerator' effects stemming from impacts of policy actions on the financial positions of borrowers or intermediaries. The results presented here support the idea that the spending decisions of a significant group of borrowers are influenced by their balance sheet condition. Whether a bank-lending channel is operative is less clear, however. More micro evidence at the level of individual borrower-lender transactions is needed to resolve this question.
Is There A Bank Credit Channel For Monetary Policy
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Author : Stephen D. Oliner
language : en
Publisher:
Release Date : 1993
Is There A Bank Credit Channel For Monetary Policy written by Stephen D. Oliner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Bank loans categories.
Inside The Black Box
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Author : Ben Bernanke
language : en
Publisher:
Release Date : 1995
Inside The Black Box written by Ben Bernanke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Credit categories.
The 'credit channel' theory of monetary policy transmission holds that informational frictions in credit markets worsen during tight- money periods. The resulting increase in the external finance premium--the difference in cost between internal and external funds-- enhances the effects of monetary policy on the real economy. We document the responses of GDP and its components to monetary policy shocks and describe how the credit channel helps explain the facts. We discuss two main components of this mechanism, the balance-sheet channel and the bank lending channel. We argue that forecasting exercises using credit aggregates are not valid tests of this theory
The Bank Lending Channel Of Monetary Policy Transmission
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Author : Michael S. Gibson
language : en
Publisher:
Release Date : 1997
The Bank Lending Channel Of Monetary Policy Transmission written by Michael S. Gibson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Bank loans categories.
Trusting The Bankers A New Look At The Credit Channel Of Monetary Policy
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Author : Matteo Ciccarelli
language : en
Publisher:
Release Date : 2010
Trusting The Bankers A New Look At The Credit Channel Of Monetary Policy written by Matteo Ciccarelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Is There A Broad Credit Channel For Monetary Policy
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Author : Stephen Oliner
language : en
Publisher:
Release Date : 1994
Is There A Broad Credit Channel For Monetary Policy written by Stephen Oliner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
Inside The Black Box
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Author : Ben S. Bernanke
language : en
Publisher:
Release Date : 2022
Inside The Black Box written by Ben S. Bernanke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
The 'credit channel' theory of monetary policy transmission holds that informational frictions in credit markets worsen during tight- money periods. The resulting increase in the external finance premium--the difference in cost between internal and external funds-- enhances the effects of monetary policy on the real economy. We document the responses of GDP and its components to monetary policy shocks and describe how the credit channel helps explain the facts. We discuss two main components of this mechanism, the balance-sheet channel and the bank lending channel. We argue that forecasting exercises using credit aggregates are not valid tests of this theory.
Was The Credit Channel A Key Monetary Transmission Mechanism Following The Recent Financial Crisis In The Republic Of Korea
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Author : Hyun E. Kim
language : en
Publisher: World Bank Publications
Release Date : 1999
Was The Credit Channel A Key Monetary Transmission Mechanism Following The Recent Financial Crisis In The Republic Of Korea written by Hyun E. Kim and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Bank loans categories.
Is There A Bank Lending Channel Of Monetary Policy In New Zealand
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Author : Alfred V. Guender
language : en
Publisher:
Release Date : 1997
Is There A Bank Lending Channel Of Monetary Policy In New Zealand written by Alfred V. Guender and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Bank loans categories.
Credit Channel And Monetary Policy In Emerging Markets
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Author : Muhamed Zulkhibri Abdul Majid
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2012-02
Credit Channel And Monetary Policy In Emerging Markets written by Muhamed Zulkhibri Abdul Majid and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-02 with categories.
The Asian financial crisis in 1997/98 and the U.S sub-prime mortgage crisis in 2007/08 have led to billions in losses and panic in world financial markets, a sharp fall in share prices and a contraction of credit markets. These events have raised further questions on the role of credits, monetary policy and financial markets for attaining macroeconomic stability. The book relates to the above issues by providing new evidence for the credit channel of monetary transmission mechanism. The book highlights that financially constrained firms are severely affected during times of increasing interest rates; firm-specific characteristics are an important factor in explaining the corporate financing choices of firms; different monetary conditions affect the rate of interest charged by borrowers to firms; external and internal financing are important determinants of firms' investment behaviour, and consistent with other empirical evidences, bank lending channel operating via small and low liquidity institutions.