The Effect Of Monetary Policy On The Availability Of Credit
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The Effect Of Monetary Policy On The Availability Of Credit
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Author : Lamont Black
language : en
Publisher:
Release Date : 2011
The Effect Of Monetary Policy On The Availability Of Credit written by Lamont Black and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
The recent financial turmoil renewed interest in whether monetary policy affects the supply side of the credit market. We show that this credit channel exists mdash; monetary policy affects aggregate loan supply (bank lending channel) and redistributes loan supply across different-sized firms (balance sheet channel). The effect on aggregate loan supply is driven by banks altering loan maturity, so monetary policy takes time to impact loan supply. Policy loosening associated with recessions, including the recent one, increased loan supply after about one year. In the cross-section, the impact is at least as strong for large banks as for small banks.
Federal Monetary Policy And Its Effect On Small Business Credit Controls And Availability Of Credit
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Author : United States. Congress. House. Committee on Small Business. Subcommittee on Access to Equity Capital and Business Opportunities
language : en
Publisher:
Release Date : 1980
Federal Monetary Policy And Its Effect On Small Business Credit Controls And Availability Of Credit written by United States. Congress. House. Committee on Small Business. Subcommittee on Access to Equity Capital and Business Opportunities and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Construction industry categories.
Monetary Policy Selective Credit Policy And Industrial Policy In France Britain West Germany And Sweden
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Author :
language : en
Publisher:
Release Date : 1981
Monetary Policy Selective Credit Policy And Industrial Policy In France Britain West Germany And Sweden written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Credit control categories.
The Implementation Of Monetary Policy With Special Attention To The Availability Of Credit
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Author : Charles F. Haywood
language : en
Publisher:
Release Date : 1955
The Implementation Of Monetary Policy With Special Attention To The Availability Of Credit written by Charles F. Haywood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1955 with Credit control categories.
Monetary Policy And The Management Of The Public Debt
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Author : United States. Congress. Joint Committee on the Economic Report
language : en
Publisher:
Release Date : 1952
Monetary Policy And The Management Of The Public Debt written by United States. Congress. Joint Committee on the Economic Report and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1952 with Credit categories.
Analysis Of Federal Reserve Policies As They Effect Interest Rates And Credit Markets
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Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy
language : en
Publisher:
Release Date : 1981
Analysis Of Federal Reserve Policies As They Effect Interest Rates And Credit Markets written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Consumer credit categories.
An Analysis Of Credit And Equilibrium Credit Rationing
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Author : Ying Wu
language : en
Publisher: Routledge
Release Date : 2017-05-18
An Analysis Of Credit And Equilibrium Credit Rationing written by Ying Wu and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-18 with Business & Economics categories.
This study, first published in 1994, is intended to deepen the readers understanding of the phenomenon of equilibrium credit rationing in two areas. The first area concerns the form that equilibrium credit rationing assumes and its importance in determining the behaviour of interest rates. The second concerns the role of equilibrium credit rationing in transmitting monetary shocks to the real sector. This title will be of interest to students of monetary economics.
Negative Monetary Policy Rates And Portfolio Rebalancing Evidence From Credit Register Data
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Author : Margherita Bottero
language : en
Publisher: International Monetary Fund
Release Date : 2019-02-28
Negative Monetary Policy Rates And Portfolio Rebalancing Evidence From Credit Register Data written by Margherita Bottero and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-28 with Business & Economics categories.
We study negative interest rate policy (NIRP) exploiting ECB's NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply-- -and hence the real economy---through a portfolio rebalancing channel. NIRP affects banks with higher ex-ante net short-term interbank positions or, more broadly, more liquid balance-sheets, not with higher retail deposits. NIRP-affected banks rebalance their portfolios from liquid assets to credit—especially to riskier and smaller firms—and cut loan rates, inducing sizable real effects. By shifting the entire yield curve downwards, NIRP differs from rate cuts just above the ZLB.
Aggregate Uncertainty And The Supply Of Credit
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Author : Mr.Fabian Valencia
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-02
Aggregate Uncertainty And The Supply Of Credit written by Mr.Fabian Valencia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-02 with Business & Economics categories.
Recent studies show that uncertainty shocks have quantitatively important effects on the real economy. This paper examines one particular channel at work: the supply of credit. It presents a model in which a bank, even if managed by risk-neutral shareholders and subject to limited liability, can exhibit self-insurance, and thus loan supply contracts when uncertainty increases. This prediction is tested with the universe of U.S. commercial banks over the period 1984-2010. Identification of credit supply is achieved by looking at the differential response of banks according to their level of capitalization. Consistent with the theoretical predictions, increases in uncertainty reduce the supply of credit, more so for banks with lower levels of capitalization. These results are weaker for large banks, and are robust to controlling for the lending and capital channels of monetary policy, to different measures of uncertainty, and to breaking the dataset in subsamples. Quantitatively, uncertainty shocks are almost as important as monetary policy ones with regards to the effects on the supply of credit.
The Market For Money And The Market For Credit
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Author : P. Korteweg
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Market For Money And The Market For Credit written by P. Korteweg and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
In most Keynesian-type macroeconomic models the financial sector is modelled in terms of money demand, money supply and money market equilibrium. The market equations for private and government debt, i.e. credit, are implicit in these models by virtue of Walras' Law and need not be explicitly specified. Market equations for existing physical capital, or shares in capital, are absent from these models on the tacit assumption that physical capital cannot be traded and, consequently, has no market price. Money in these models is a substitute for private and government debt, not for current output, let alone for physical capital (or claims thereon). Models with these characteristics have three basic weaknesses. They narrow down the monetary transmission mechanism to a small subset of assets. Moreover, they produce downward-biased estimates of the degree of controllability of money in open economies if money and claims on physical capital are actually substitutes. Finally, these models are ill-suited to analyze adequately the effects of open market operations and of financing government budget deficits which change the stocks of money and debt.