Credit, Securitization and Monetary Policy : Watch Out for Unintended Consequences /

We show evidence that interest rate hikes slowdown loan growth but lead intermediation to migrate from banks' balance sheets to non-banks via increased securitization activity. As such, higher interest rates have the potential for unintended consequences; raising systemic risk rather than lower...

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Detalles Bibliográficos
Autor Principal: Pescatori, Andrea
Outros autores: Sole, Juan
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 2016.
Series:IMF Working Papers; Working Paper ; No. 2016/076
Acceso en liña:Full text available on IMF

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