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- W1567509430 abstract "In this paper, we study the role of the credit channel of monetary policy in the context of a DSGE model. Through the use of a regulated banking sector subject to a regulatory capital constraint on lending, we provide alternative interpretations that can potentially explain differences in the implementation of monetary policy without appealing to ad-hoc central bank preferences. This is accomplished through the characterization of the external finance premium as a function of bank leverage and systemic aggregate risk." @default.
- W1567509430 created "2016-06-24" @default.
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- W1567509430 date "2013-01-01" @default.
- W1567509430 modified "2023-09-23" @default.
- W1567509430 title "The Balance Sheet Channel" @default.
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- W1567509430 doi "https://doi.org/10.2139/ssrn.2365048" @default.
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