Monetary Policy and Bank Lending

66 Pages Posted: 19 Jun 2004

See all articles by Anil K. Kashyap

Anil K. Kashyap

University of Chicago, Booth School of Business; National Bureau of Economic Research (NBER); Federal Reserve Bank of Chicago

Jeremy C. Stein

Harvard University - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: April 1993

Abstract

This paper surveys recent work that relates to the "lending" view of monetary policy transmission. It has three main goals: 1) to explain why it is important to distinguish between the lending and "money" views of policy transmission; 2) to outline the microeconomic conditions that are needed to generate a lending channel; and 3) to review the empirical evidence that bears on the lending view.

Suggested Citation

Kashyap, Anil K. and Stein, Jeremy C., Monetary Policy and Bank Lending (April 1993). NBER Working Paper No. w4317. Available at SSRN: https://ssrn.com/abstract=227020

Anil K. Kashyap (Contact Author)

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Jeremy C. Stein

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