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Monetary Policy and Bank Lending

In: Monetary Policy

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  • Anil K. Kashyap
  • Jeremy C. Stein

Abstract

This paper surveys recent work that relates to the "lending" view of monetary policy transmission. It has three main goals: 1) to explain why it is important to distinguish between the lending and "money" views of policy transmission; 2) to outline the microeconomic conditions that are needed to generate a lending channel; and 3) to review the empirical evidence that bears on the lending view.
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Suggested Citation

  • Anil K. Kashyap & Jeremy C. Stein, 1994. "Monetary Policy and Bank Lending," NBER Chapters,in: Monetary Policy, pages 221-261 National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberch:8334
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