Working Papers, Department of Economics, Lund University
A Panel Data Test of the Bank Lending Channel in 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; (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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