Bankers, economists, and other financial specialists met to discuss whether bank lending should be considered an important component of the transmission of monetary policy. Proponents argued that changes in bank assets as well as bank liabilities influence the future course of the economy. Many economists remain skeptical of the role of banks, however, believing that a focus on interest rates or money aggregates is sufficient for understanding the transmission of monetary policy. This article presents an overview of the papers presented at the conference and the comments of their discussants.
(This abstract was borrowed from another version of this item.)"> Bankers, economists, and other financial specialists met to discuss whether bank lending should be considered an important component of the transmission of monetary policy. Proponents argued that changes in bank assets as well as bank liabilities influence the future course of the economy. Many economists remain skeptical of the role of banks, however, believing that a focus on interest rates or money aggregates is sufficient for understanding the transmission of monetary policy. This article presents an overview of the papers presented at the conference and the comments of their discussants.
(This abstract was borrowed from another version of this item.)">
[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/fip/fedbcp/y1995p1-14n39.html
   My bibliography  Save this article

Is bank lending important for the transmission of monetary policy: an overview

Author

Listed:
  • Joe Peek
  • Eric Rosengren
Abstract
To improve our understanding of the role of banks in the transmission of monetary policy, the Federal Reserve Bank of Boston convened a conference in June of 1995 to consider the question, \"Is Bank Lending Important for the Transmission of Monetary Policy?\" That banks are an important element in the transmission process is not an issue, because monetary policy operates through the banking sector. However, the description of the exact role played by banks remains hotly disputed, with the debate focusing on the importance of the role for bank lending as a transmission channel (the lending view) distinct from the generally accepted channel operating through interest rates (the money view).> Bankers, economists, and other financial specialists met to discuss whether bank lending should be considered an important component of the transmission of monetary policy. Proponents argued that changes in bank assets as well as bank liabilities influence the future course of the economy. Many economists remain skeptical of the role of banks, however, believing that a focus on interest rates or money aggregates is sufficient for understanding the transmission of monetary policy. This article presents an overview of the papers presented at the conference and the comments of their discussants.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Joe Peek & Eric Rosengren, 1995. "Is bank lending important for the transmission of monetary policy: an overview," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 39, pages 1-14.
    • Handle: RePEc:fip:fedbcp:y:1995:p:1-14:n:39
    as

    Download full text from publisher

    File URL: http://www.bostonfed.org/economic/conf/conf39/conf39a.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedbcp:y:1995:p:1-14:n:39. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Spozio (email available below). General contact details of provider: https://edirc.repec.org/data/frbbous.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.