Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/99119
Authors: 
Peek, Joe
Rosengren, Eric S.
Year of Publication: 
2013
Series/Report no.: 
Public Policy Discussion Papers, Federal Reserve Bank of Boston 13-5
Abstract: 
The transmission of monetary policy, especially in light of recent events, has received increased attention, especially with respect to the efficacy of the bank lending channel. This paper summarizes the issues associated with isolating the bank lending channel and determining the extent to which it is operational. Evidence on the effectiveness of the bank lending channel is presented, both in the United States and abroad. The paper then provides observations about the likely consequences for the effectiveness of the lending channel of the changes in the financial environment associated with the recent financial crisis.
Subjects: 
bank lending channel
loan supply
monetary policy
financial crisis
bank regulation
financial innovation
JEL: 
E52
G21
Document Type: 
Working Paper

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