Bank lending and interest rate changes in a dynamic matching model /

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Bibliographic Details
Author / Creator:Dell'Ariccia, Giovanni, author.
Imprint:[Washington, D.C.] : International Monetary Fund, Research Dept., ©1998.
Description:1 online resource (46 pages).
Language:English
Series:IMF working paper ; WP/98/93
IMF working paper ; WP/98/93.
Subject:Bank loans.
Interest rates.
Prêts bancaires.
Taux d'intérêt.
Bank loans.
Interest rates.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12497849
Hidden Bibliographic Details
Other authors / contributors:Garibaldi, Pietro, 1968- author.
International Monetary Fund. Research Department, issuing body.
ISBN:1283571129
9781283571128
1451897472
9781451897470
1462379214
9781462379217
1452778507
9781452778501
9786613883575
6613883573
9781451951318
1451951310
ISSN:2227-8885
Notes:Includes bibliographical references (pages 45-46).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:In a world with asymmetric information and other market imperfections, financial intermediaries provide credit to otherwise liquidity constrained agents. If lending without screening and monitoring entails large deadweight losses, and if market financing is prevented by free-rider problems, banks emerge as the only source of external financing for potentially productive agents (Diamond, 1984).1 As a result, the relationship between monetary perturbations and aggregate economic activity is necessarily linked to bank lending behavior. 2 However, the response of bank lending to positive and negative interest rate changes may be inherently different, and potentially asymmetric. Even though several papers have studied the asymmetric effects of monetary policy on real economic activity, little attention has been paid to the asymmetric response of bank lending to interest rate changes. 3.
Other form:Print version: Dell'Ariccia, Giovanni. Bank lending and interest rate changes in a dynamic matching model. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1998
Standard no.:10.5089/9781451897470.001