The 'credit channel' theory of monetary policy transmission holds that informational frictions in credit markets worsen … components to monetary policy shocks and describe how the credit channel helps explain the facts. We discuss two main components … credit aggregates are not valid tests of this theory …

first examine the impact of economic policy uncertainty on aggregate bank credit growth. Then we analyze commercial bank … macroeconomic controls, economic policy uncertainty affected bank level credit growth, and (ii) whether there is variation in the … on bank credit growth. Since this impact varies meaningfully with some bank characteristics – particularly the overall …

credit to monetary conditions relative to their domestic competitors, with the differences driven by banks with lower asset … weak support to the existence of supply-side effects in credit markets and suggest that foreign bank entry in emerging … economies may have contributed somewhat to stability in credit markets …

banks in providing credit to smaller borrowers about whom information is least complete and, more generally, support the …

We develop a tractable model of banks' liquidity management and the credit channel of monetary policy. Banks finance …

advanced economies. The monetary policy of the U.S. affects domestic credit costs in other countries through its effect on … fluctuations in such risk perceptions and have a direct effect on local credit spreads. Domestic monetary policy is ineffective in …

currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising …