Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy
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Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of adjustment that are usually absent from this view using microdata in the $10 trillion U.S. residential mortgage market. We first document the limits of the shadow bank substitution
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美国国家经济研究局创建时间：
2018-10-01
