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Bank Loans and the Transmission Mechanism of Monetary Policy

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Author Info
Hallsten, Kerstin () (Monetary Policy Department, Central Bank of Sweden)

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Abstract

How monetary policy affects the economy is a central topic of debate in macroeconomics. The bank lending channel is one approach that emphasises the role of banks. Banks are important because of asymmetric information in the financial market. Banks are assumed to be better at handling information problems than other lenders. In this paper it is analysed how monetary policy works when there is a bank lending channel and then it is tested for the importance of this channel using Swedish data.

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File URL: http://www.riksbank.com/upload/995/WP_73.pdf
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Publisher Info
Paper provided by Sveriges Riksbank (Central Bank of Sweden) in its series Working Paper Series with number 73.

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Length: 44 pages
Date of creation: 01 Nov 1998
Date of revision:
Handle: RePEc:hhs:rbnkwp:0073

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Postal: Sveriges Riksbank, SE-103 37 Stockholm, Sweden
Phone: 08 - 787 00 00
Fax: 08-21 05 31
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Web page: http://www.riksbank.com/
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Related research
Keywords: Bank loans; Transmission mechanism; Monetary policy;

Find related papers by JEL classification:
E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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Cited by:
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  1. Westerlund, Joakim, 2003. "A Panel Data Test of the Bank Lending Channel in Sweden," Working Papers 2003:16, Lund University, Department of Economics. [Downloadable!]
Statistics
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This page was last updated on 2009-12-18.

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