Financial Dampening
收藏NBER2016-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22141
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资源简介：
We propose a novel mechanism, financial dampening, whereby loan retrenchment by banks attenuates the effectiveness of monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank holding companies (BHCs). We derive an IV-strategy that
提供机构：
美国国家经济研究局
创建时间：
2016-04-01
