Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/268460
Authors: 
Huang, Yiping
Li, Xiang
Qiu, Han
Yu, Changhua
Year of Publication: 
2023
Series/Report no.: 
IWH Discussion Papers No. 18/2022
Version Description: 
This version: 31.01.2023
Publisher: 
Leibniz-Institut für Wirtschaftsforschung Halle (IWH), Halle (Saale)
Abstract: 
This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly through the extensive margin. Specifically, the BigTech bank is more likely to grant credit to new borrowers compared with conventional banks in response to expansionary monetary policy. The BigTech bank's advantages in information, monitoring, and risk management are the potential mechanisms. In addition, monetary policy has a stronger impact on the real economy through BigTech lending.
Subjects: 
bank lending
financial technology
monetary policy transmission
JEL: 
E52
G21
G23
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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