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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Détails bibliographiques
Auteur principal: Pescatori, Andrea
Autres auteurs: Sole, Juan
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2016.
Collection:IMF Working Papers; Working Paper ; No. 2016/076
Accès en ligne:Full text available on IMF