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The Impact of Monetary Policy on Bank Balance Sheets / Anil K. Kashyap, Jeremy C. Stein.
- Format:
- Book
- Author/Creator:
- Kashyap, A. K.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4821.
- NBER working paper series no. w4821
- Language:
- English
- Subjects (All):
- Bank reserves.
- Bank loans--United States.
- Bank loans.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1994.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1994.
- Summary:
- This paper uses disaggregated data on bank balance sheets to provide a test of the lending view of monetary policy transmission. We argue that if the lending view is correct, one should expect the loan and security portfolios of large and small banks to respond differentially to a contraction in monetary policy. We first develop this point with a theoretical model; we then test to see if the model's predictions are borne out in the data.
- Notes:
- Print version record
- August 1994.
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