Scandinavian Working Papers in Economics
Working Papers,
Lund University, Department of Economics
No 2003:16: A Panel Data Test of the Bank Lending Channel in Sweden
Joakim Westerlund ()
Additional contact information
Joakim Westerlund: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
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
JEL-codes: C33; E42; E52; E52; F42; G21
18 pages, November 10, 2003
Full text files
WP03_16.pdf
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