Burgstaller, Johann - In: Jahrbücher für Nationalökonomie und Statistik 230 (2010) 2, pp. 163-185
Summary This paper examines the role of banks in the propagation process of monetary policy actions. Testable hypotheses are deduced from the theory of the lending channel, which argues that after a policy-induced drain of funds from the banking sector, some (types of) institutions are unable or...