THE ROLE OF UNCERTAINTY IN THE TRANSMISSION OF MONETARY POLICY EFFECTS ON BANK LENDING

被引：13

作者：

Baum, Christopher ^{[1
,2
]}

Caglayan, Mustafa ^{[3
]}

Ozkan, Neslihan ^{[4
]}

机构：

[1] Boston Coll, Chestnut Hill, MA 02167 USA

[2] DIW Berlin, Berlin, Germany

[3] Univ Sheffield, Sheffield S10 2TN, S Yorkshire, England

[4] Univ Bristol, Bristol BS8 1TH, Avon, England

来源：

MANCHESTER SCHOOL | 2013年 / 81卷 / 02期

关键词：

CREDIT CONDITIONS; MANAGEMENT;

D O I：

10.1111/j.1467-9957.2011.02274.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we re-examine commercial banks' lending behavior taking into account changes in the stance of monetary policy in conjunction with changes in financial sector uncertainty. Our empirical findings, gathered from a very large data set covering all banks in the USA between 1986 and 2000, cast substantial doubt on the presence of a bank lending channel for the USA. We also show that financial uncertainty has an important and significant role in the monetary policy transmission mechanism which varies considerably across bank categories and the strength of banks' balance sheets.

引用

页码：202 / 225

页数：24

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