The Bank Lending Channel with Endogenous Money - A Simple Macro Model

The growth and deepening of financial markets entailed the expectation that the bank lending channel of monetary policy transmission would lose its importance. The paper explains why, on the contrary, the banking sector has become a major locus of origination and amplification of macro-financial sho...

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Veröffentlicht in:	Credit and capital markets (Berlin) 2015-12, Vol.48 (4), p.567-595
1. Verfasser:	Spahn, Peter
Format:	Artikel
Sprache:	eng
Schlagworte:	asset market shocks Balance sheets Bank deposits Banking industry Capital markets Central banks credit market Interest rates leverage targeting Macroeconomics Monetary policy Monetary policy transmission Money markets risk-taking channel Securities markets
Online-Zugang:	Volltext
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