The bank lending channel revisited¶
Disyatat, P. (2010). The bank lending channel revisited.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- Money Multiplier
- The Bank of England (McLeay, Radia, and Thomas, 2014), the Bank for International Settlements, and the post-2008 academic literature on endogenous money argue that in an interest-rate-targeting regime, commercial banks create deposits by making loans first and seek reserves afterward; the central bank supplies whatever reserves are demanded to maintain the policy rate
This sourceThe BIS statement of the endogenous-money position the sentence attributes to it: 'loans drive deposits rather than the other way around', with the central bank supplying 'reserves as demanded by the system' to hold its interest-rate target.
SupportedVerified against the source
- The Bank of England (McLeay, Radia, and Thomas, 2014), the Bank for International Settlements, and the post-2008 academic literature on endogenous money argue that in an interest-rate-targeting regime, commercial banks create deposits by making loans first and seek reserves afterward; the central bank supplies whatever reserves are demanded to maintain the policy rate
Verification¶
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Registry ID ref:52e3668028a0 · see in the full table