Leaning Against Windy Bank Lending /
Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provides evidence that monetary policy reacted to bank loan growth in the US during the Great Moderation. It then shows that the optimized simple interest-rate rule features no response to the growth of ba...
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| Natura: | Periodico |
| Lingua: | English |
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Washington, D.C. :
International Monetary Fund,
2017.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2017/179 |
| Accesso online: | Full text available on IMF |