The Relevance of the Bank Lending Channel in Brazil
This paper evaluates the existence of an active bank-lending channel of monetary policy. The empirical analysis is based on a two-step regression that tests how the liquidity of commercial banks reacted to monetary shocks. We use balance sheet information of 293 commercial banks from July 1994 to De...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Brazilian Society of Finance
2008-12-01
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| Series: | Revista Brasileira de Finanças |
| Subjects: | |
| Online Access: | http://virtualbib.fgv.br/ojs/index.php/rbfin/article/view/1345 |