Borrowers' Financial Constraints and the Transmission of Monetary Policy: Evidence from Financial Conglomerates
نویسندگان
چکیده
منابع مشابه
Borrowers’ Financial Constraints and the Transmission of Monetary Policy: Evidence from Financial Conglomerates∗
Exploring the functioning of internal capital markets in financial conglomerates, this paper conducts a novel test of the credit channel of monetary policy. We look at how the response of lending to monetary policy shocks differs across small banks that are affiliated with the same bank holding company but that operate in distinct geographical areas. These subsidiaries tap into the same pool of...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.920679