Más alla del manejo de la tasa de interés para enfrentar la actual crisis: el canal de crédito y las asimetrías de la política monetaria en Chile
This work develops an empirical study of the credit channel in Chile. We found that the interest rate has a positive effect in the long run credit supply. Nevertheless, the disequilibrium in the short run credit supply has a significant negative effect on economic activity. This is most marked when the central bank is carried out a contractive monetary policy. Thus, all this evidence supports the fact that the central bank should implement a monetary policy beyond the control of the interest rate i.e. non conventional monetary policies to affect directly the liquidity restriction on the banking system to avoid a collapse of the economy in crisis times.
|Date of creation:||Dec 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Erasmo Escala 1835, 6500620 Santiago|
Phone: (562) 692-0265
Fax: (562) 692-0303
Web page: http://www.economia.uahurtado.cl/
More information through EDIRC
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Anil K Kashyap & Jeremy C. Stein & David W. Wilcox, 1992.
"Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance,"
NBER Working Papers
4015, National Bureau of Economic Research, Inc.
- Kashyap, Anil K & Stein, Jeremy C & Wilcox, David W, 1993. "Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance," American Economic Review, American Economic Association, vol. 83(1), pages 78-98, March.
- Anil K. Kashyap & Jeremy C. Stein & David W. Wilcox, 1991. "Monetary policy and credit conditions: evidence from the composition of external finance," Finance and Economics Discussion Series 154, Board of Governors of the Federal Reserve System (U.S.).
- Hulsewig, Oliver & Mayer, Eric & Wollmershauser, Timo, 2006.
"Bank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responses,"
Journal of Banking & Finance,
Elsevier, vol. 30(10), pages 2893-2910, October.
- Oliver Hülsewig & Eric Mayer & Timo Wollmershäuser, 2005. "Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment Based on Matching Impulse Responses," CESifo Working Paper Series 1380, CESifo Group Munich.
- Hülsewig, Oliver & Mayer, Eric & Wollmershäuser, Timo, 2004. "Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment based on Matching Impulse Responses," W.E.P. - Würzburg Economic Papers 54, University of Würzburg, Chair for Monetary Policy and International Economics.
- Hülsewig, Oliver & Mayer, Eric & Wollmershäuser, Timo, 2006. "Bank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responses," Munich Reprints in Economics 19432, University of Munich, Department of Economics.
- Oliver Hülsewig & Eric Mayer & Timo Wollmershäuser, 2005. "Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment Based on Matching Impulse Responses," Ifo Working Paper Series Ifo Working Papers No.14, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
- Anil Kashyap & Jeremy C. Stein, 1993.
"Monetary Policy and Bank Lending,"
NBER Working Papers
4317, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:ila:ilades:inv230. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marcela Perticara)
If references are entirely missing, you can add them using this form.