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dc.contributor.authorBajec, Lukaen_US
dc.contributor.authorGraf Lambsdorff, Johannen_US
dc.description.abstractThe bank lending channel (BLC) has found entrance into standard economic textbooks. But the approach, as presented by Bernanke and Blinder [1988] operates with lopsided loan demand, money demand and money supply functions. This invalidates the idea that potential changes in the supply of loans may impact on aggregate demand for goods and services. Above, a reduction of loans may restrict an individual investors, but the macroeconomic logic of the IS curve suggests that such a constraint is not binding.en_US
dc.publisherUniv. Passau, Wirtschaftswiss. Fak. Passauen_US
dc.relation.ispartofseriesPassauer Diskussionspapiere: Volkswirtschaftliche Reihe V-46-06en_US
dc.titleThere is no bank lending channel!en_US
dc.typeWorking Paperen_US
Appears in Collections:Passauer Diskussionspapiere, Volkswirtschaftliche Reihe, Universität Passau

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