Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy

Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy
The stickiness of bank lending rates with respect to money market rates is often regarded as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure of the different degree of lending rate stickiness across countries has been attempted. This paper provides such a measure. It also relates the different... READ MORE...

Publication date: March 1994
ISBN 9781451845761
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