Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/216790 
Erscheinungsjahr: 
2015
Quellenangabe: 
[Journal:] Review of Economic Dynamics [ISSN:] 1096-6099 [Volume:] 18 [Issue:] 4 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2015 [Pages:] 979-1002
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
Credit supply and demand changes are mostly unobserved, thus identifying completely the transmission of monetary policy through the credit channel is unfeasible. Bank lending surveys by central banks, however, contain reliable quarterly information on changes in loan conditions due to bank, firm and household balance sheet strength and on changes in loan demand. Using the U.S. and the unique Euro area surveys, we find that the credit channel amplifies a monetary policy shock on GDP and prices, through the balance-sheets of households, firms and banks. For corporate loans, amplification is highest through the bank lending and the borrower's balance sheet channel; for households, demand is the strongest channel.
Schlagwörter: 
credit channel
firm and household balance-sheet channels
bank lending channel
credit crunch
credit supply
monetary policy
JEL: 
E32
E44
G01
G21
DOI der veröffentlichten Version: 
Dokumentart: 
Article
Dokumentversion: 
Manuscript Version (Preprint)
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
946.41 kB





Publikationen in EconStor sind urheberrechtlich geschützt.