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| Tekijä: | Ludvigson, S. |
| Otsikko: | The channel of monetary transmission to demand: Evidence from the market for automobile credit. |
| Lehti: | Journal of Money, Credit and Banking
1998 : AUG, VOL. 30:3:1, p. 365-383 |
| Asiasana: | Loans Bank lending Credit Cars |
| Vapaa asiasana: | Consumer credit |
| Kieli: | eng |
| Tiivistelmä: | The evidence presented in this paper supports the existence of a bank lending channel of monetary transmission to aggregate consumption demand. The nature of automobile finance is uniquely suited to identifying which of two possible subchannels of the broader credit channel is relatively more important, and suggests the results are more likely consistent with a bank lending channel than with a pure balance sheet channel. The findings also indicate that the quantitative effects of the lending channel on the aggregate economy, though precisely esimated, may be quite small. |
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