Wu, Dan; Li, Rong; Li, Yingting - In: The North American journal of economics and finance : a … 73 (2024), pp. 1-14
Off-balance-sheet (OBS) activities are special means of credit expansion of commercial banks, which can affect banks … analyses the impact of OBS activities on banks' asset allocation and on the effectiveness of monetary policy. Our findings show … that increases in OBS activities weaken the effectiveness of price-based monetary policy through the bank lending channel …