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| Author: | Cottarelli, C. Kourelis, A. |
| Title: | Financial structure, bank lending rates, and the transmission mechanism of monetary policy |
| Journal: | Staff Papers
1994 : DEC, VOL. 41:4, p. 587-628 |
| Index terms: | FINANCIAL STRUCTURE BANK LENDING MONETARY POLICY |
| Language: | eng |
| Abstract: | The stickiness of bank lending rates with respect to money market rates is often regarded as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure of the different degree of lending rate stickiness across countries has been attempted. This paper provides such a measure. It also relates the different degree of lending rate stickiness to structural features of the financial system. |
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