Monetary Policy and Bank Lending

著者: Anil Kashyap, Jeremy C. Stein - Federal Reserve Bank of St. Louis 1993 被引用: 345

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 microcconomic conditions that arc needed to generate a lending channel; and 3) to review the empirical evidence that bears on the lending view.