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Heterogeneous Bank Lending Responses to Monetary Policy
By:Mr. John C Bluedorn,Mr. Christopher Bowdler,Mr. Christoffer Koch
Published on 2013-05-22 by International Monetary Fund

We present new evidence on how heterogeneity in banks interacts with monetary policy changes to impact bank lending. Using an exogenous policy measure identified from narratives on FOMC intentions and real-time economic forecasts, we find much greater heterogeneity in U.S. bank lending responses than that found in previous research based on realized federal funds rate changes. Our findings suggest that studies using realized monetary policy changes confound the monetary policy’s effects with those of changes in expected macrofundamentals. We also extend Romer and Romer (2004)’s identification scheme, and expand the time and balance sheet coverage of the U.S. banking sample.
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Book ID of Heterogeneous Bank Lending Responses to Monetary Policy's Books is am4XnHsE_JwC, Book which was written byMr. John C Bluedorn,Mr. Christopher Bowdler,Mr. Christoffer Kochhave ETAG "bfeUYo+a5Ps"
Book which was published by International Monetary Fund since 2013-05-22 have ISBNs, ISBN 13 Code is 9781484397152 and ISBN 10 Code is 1484397150
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