Greenwald, Daniel; Krainer, John; Paul, Pascal - National Bureau of Economic Research - 2024
.S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during …We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U … the 2022-2023 monetary tightening cycle extended less credit to firms. This spillover effect was stronger for available …