Financial Stability and Monetary Policy - The case of Brazil
Palabras clave:
bank lending channel, monetary policyResumen
This paper seeks to examine the effects of monetary policy over banks’ loans growth and whether there is a bank lending channel operating in Brazil. Therefore, we employ a detailed high frequency panel data in which we include bank characteristics and ownership control. We contribute to the literature on bank lending channel by showing that during periods of loosening/tightening monetary policy, banks increase/decrease their loans. Additionally, our results illustrate that large, well-capitalized and liquid banks react differentially to the effects of monetary policy shocks. Finally, we show that the impact of monetary policy differs across state-owned, foreign and private domestic banks. These results are important for developing and conducting monetary policy.
Descargas
Publicado
Número
Sección
Licencia
Os artigos assinados são de responsabilidade exclusiva dos autores. É permitida a reprodução total ou parcial dos artigos desta revista, desde que seja citada a fonte.