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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| 格式: | 雜誌 |
| 語言: | English |
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Washington, D.C. :
International Monetary Fund,
2016.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2016/076 |
| 在線閱讀: | Full text available on IMF |