Agarwal, Isha; Duttagupta, Rupa; Presbitero, Andrea F. - 2018
We study the role of the bank-lending channel in propagating fluctuations in commodity prices to credit aggregates and … transmission of changes in international commodity prices to domestic bank lending. Identification relies on a bankspecific time …-varying measure of bank sensitivity to changes in commodity prices, based on daily data on bank stock prices. We find that a fall in …