Publicação
Credit rationing and monetary transmission : evidence for Portugal
| Resumo: | The hypothetical existence of rationing in the credit market is of paramount importance to understand the transmission mechanism of monetary policy. Two indirect empirical tests of credit rationing are presented and discussed using Portuguese data. The first test is a stickiness test to the response of loan rates to changes in money market conditions. For the second test a VAR is estimated in orderto analyse the implied causality relations. |
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| Autores principais: | St. Aubyn, Miguel |
| Outros Autores: | Afonso, António |
| Assunto: | Credit Rationing Credit Market Banking Causality Test Portugal |
| Ano: | 1998 |
| País: | Portugal |
| Tipo de documento: | working paper |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| Resumo: | The hypothetical existence of rationing in the credit market is of paramount importance to understand the transmission mechanism of monetary policy. Two indirect empirical tests of credit rationing are presented and discussed using Portuguese data. The first test is a stickiness test to the response of loan rates to changes in money market conditions. For the second test a VAR is estimated in orderto analyse the implied causality relations. |
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