دورية أكاديمية
Credit Supply and Monetary Policy: Identifying the Bank Balance-Sheet Channel with Loan Applications
| العنوان: | Credit Supply and Monetary Policy: Identifying the Bank Balance-Sheet Channel with Loan Applications |
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| المؤلفون: | Jiménez, Gabriel, Ongena, Steven, Peydró, José-Luis, Saurina, Jesús |
| بيانات النشر: | American Economic Association ZBW - Leibniz Information Centre for Economics |
| سنة النشر: | 2012 |
| مصطلحات موضوعية: | ddc:330, E32, E44, E5, G21, G28, eco, manag |
| الوصف: | We analyze the impact of monetary policy on the supply of bank credit. Monetary policy affects both loan supply and demand, thus making identification a steep challenge. We therefore analyze a novel, supervisory dataset with loan applications from Spain. Accounting for time-varying firm heterogeneity in loan demand, we find that tighter monetary and worse economic conditions substantially reduce loan granting, especially from banks with lower capital or liquidity ratios; responding to applications for the same loan, weak banks are less likely to grant the loan. Finally, firms cannot offset the resultant credit restriction by applying to other banks. |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| تدمد: | 1944-7981 |
| العلاقة: | Journal: American Economic Review; Volume: 102; Year: 2012; Issue: 5; Pages: 2301-2326; Nashville: American Economic Association; RePEc:zbw:espost:232080; http://hdl.handle.net/10419/232080Test |
| DOI: | 10.1257/aer.102.5.2301 |
| الإتاحة: | https://doi.org/10.1257/aer.102.5.2301Test http://hdl.handle.net/10419/232080Test |
| حقوق: | undefined ; other |
| رقم الانضمام: | edsbas.B4BEBAA5 |
| قاعدة البيانات: | BASE |
Full Text Finder | تدمد: | 19447981 |
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| DOI: | 10.1257/aer.102.5.2301 |