The Impact of Monetary Policy on Bank Balance Sheets

This paper uses disaggregated data on bank balance sheets to provide a test of the lending view of monetary policy transmission. We argue that if the lending view is correct, one should expect the loan and security portfolios of large and small banks to respond differentially to a contraction in monetary policy. We first develop this point with a theoretical model; we then test to see if the model's predictions are borne out in the data.

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Year of publication:	1994-08
Authors:	Kashyap, Anil ; Stein, Jeremy
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	CF ME published as Carnegie-Rochester Conference Series on Public Policy, 42, 1995, pp. 151-19 5. Number 4821
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005828853