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In: Economica, Band 78, Heft 312, S. 593-617
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 42, Heft 3, S. 1150-1175
ISSN: 1540-5982
Abstract Following a monetary tightening, bank loans to consumers decrease. This is true for both mortgage and non‐mortgage loans, and it is true for a tightening by the Bank of Canada that is, and is not, a response to a tightening by the Federal Reserve System. In contrast, business loans increase following a monetary tightening. The 'perverse' response of business loans cannot be explained by an increase in the demand for funds due to a reduction in real activity. These results are consistent with a change in bank portfolio behaviour in favour of business loans in response to a monetary tightening.
In: Canadian Journal of Economics/Revue canadienne d'économique, Band 42, Heft 3, S. 1150-1175
SSRN
In: Journal of Monetary Economics, Band 54, Heft 3, S. 904-924
In: The quarterly review of economics and finance, Band 51, Heft 2, S. 162-172
ISSN: 1062-9769