Results 1 - 1 of 1 for recession [Author: R. Glenn Hubbard]
Is There a "Credit Channel" for Monetary Policy? - Review
The author surveys the credit channel for monetary policy. He makes clear that there are two possible credit channels for monetary policy, and that both require asymmetry in the access of “small” and “large” firms to credit. The bank credit channel operates directly on the ability of depository institutions to make loans through the effect of monetary policy actions (open market operations) on bank reserves.
research.stlouisfed.org/.../review/1995/05/01/is-there-a-credit-channel-for-monetary-policy
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