search query: @indexterm commercial banks / total: 253
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| Author: | Kashyap, A. Stein, J. |
| Title: | What do a million observations on banks say about the transmission of monetary policy? |
| Journal: | American Economic Review
2000 : JUN, VOL. 90:3, p. 407-428 |
| Index terms: | MONETARY POLICY COMMERCIAL BANKS ASSETS |
| Language: | eng |
| Abstract: | The authors study the monetary-transmission mechanism with a data set that includes quarterly observations of every insured U.S. commercial bank from 1976 to 1993. The authors find that the impact of monetary policy on lending is stronger for banks with less liqueed balance sheets -- i.e., banks with lower ratios of securities to assets. Moreover, this pattern is largely attributable to the smaller banks, those in the bottom 95 percent of the size distribution. |
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