کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
963259 930284 2009 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Identification of a loan supply function: A cross-country test for the existence of a bank lending channel
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Identification of a loan supply function: A cross-country test for the existence of a bank lending channel
چکیده انگلیسی
Using the theoretical predictions of the Bernanke-Blinder [Bernanke, B.S., Blinder, A.S., 1988. Is it money or credit or both or neither? Credit, money, and aggregate demand. American Economic Review 78, 435-459] model, we seek to examine the existence of a bank lending channel through the empirical identification of a loan supply function and to assess the impact of differential bank characteristics on banks' ability to supply loans. To this end, we estimate a loan supply model and test for the restrictions implied by perfect substitutability between loans and bonds in bank portfolios. Estimations are carried out on bank panel data for six OECD countries, the results showing that a bank lending channel is at work in only two of them. Moreover, we find that the relevance of bank characteristics is hardly a decisive factor in the identification of a loan supply function.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Financial Markets, Institutions and Money - Volume 19, Issue 2, April 2009, Pages 321-335
نویسندگان
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