Afanasyeva, Elena; Guentner, Jochen - Verein für Socialpolitik - VfS - 2014
This paper investigates the risk-taking channel of monetary policy on the asset side of banks' balance sheets. We use a factor-augmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, e.g. their collateral requirements for firms, are significantly...