Monetary Transmission in Brazil: Has the Credit Channel Changed?
December 17, 2013
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Summary
This paper investigates the transmission of monetary policy by private banks in Brazil during the recent easing cycle. The analysis presented uses a panel dataset with information on lending by private banks in Brazil and concludes that monetary transmission through lending volumes was not impaired. Instead, the observed diminished lending appears to be related to supply and demand factors, as well as to the rapid expansion of public banks’ lending.
Subject: Bank credit, Banking, Credit, Financial institutions, Loans, Money, Nonperforming loans, State-owned banks
Keywords: balance sheet variable, bank, bank capitalization, Bank credit, Credit, credit channel, credit growth, Global, lending, lending channel, lending growth, lending product, lending to corporate, Loans, monetary policy, monetary transmission, Nonperforming loans, private bank, State-owned banks, WP
Pages:
20
Volume:
2013
DOI:
Issue:
251
Series:
Working Paper No. 2013/251
Stock No:
WPIEA2013251
ISBN:
9781484312001
ISSN:
1018-5941
