| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14101 |
| 来源ID | Working Paper 14101 |
| Banking Globalization, Monetary Transmission, and the Lending Channel | |
| Nicola Cetorelli; Linda S. Goldberg | |
| 发表日期 | 2008-06-20 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | The globalization of banking in the United States is influencing the monetary transmission mechanism both domestically and in foreign markets. Using quarterly information from all U.S. banks filing call reports between 1980 and 2005, we find evidence for the lending channel for monetary policy in large banks, but only those banks that are domestically-oriented and without international operations. We show that the large globally-oriented banks rely on internal capital markets with their foreign affiliates to help smooth domestic liquidity shocks. We also show that the existence of such internal capital markets contributes to an international propagation of domestic liquidity shocks to lending by affiliated banks abroad. While these results imply a substantially more active lending channel than documented in the seminal work of Kashyap and Stein (2000), the lending channel within the United States is declining in strength as banking becomes more globalized. |
| 主题 | Macroeconomics ; Monetary Policy ; International Economics ; International Finance ; Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w14101 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571777 |
| 推荐引用方式 GB/T 7714 | Nicola Cetorelli,Linda S. Goldberg. Banking Globalization, Monetary Transmission, and the Lending Channel. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14101.pdf（206KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
