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Department of Economics, Lund University Working Papers, Department of Economics, Lund University

No 2003:16:
A Panel Data Test of the Bank Lending Channel in Sweden

Joakim Westerlund ()

Abstract: In this paper, we test the bank lending channel of monetary policy transmission in Sweden. Using a panel of bank balance sheet data covering the period 1998:M1 to 2003:M6, we test for bank loan supply shifts by segregating banks by asset size, liquidity and capitalization. The main result is that small, illiquid and undercapitalized banks are significantly affected by monetary policy, which supports the hypothesis of the bank lending channel

Keywords: Monetary Transmission; Bank Lending Channel; (follow links to similar papers)

JEL-Codes: C33; E42; E52; E52; F42; G21; (follow links to similar papers)

18 pages, November 10, 2003

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