Un interrogante importante en el campo de la macroeconomia ha sido el de la operacion del mecanismo de transmision de la politica monetaria. La posible existencia de un canal crediticio es uno de los temas centrales en la discusion de la eficacia de la politica. Este ensayo presenta nuevos datos...

An important question in macroeconomics has been how the transmission mechanism of monetary policy works. In particular, the question of whether there exists a credit or bank lending channel for the transmission of monetary policy has been one of the central themes in the discussion of the...