Monetary Transmission in Brazil: Has the Credit Channel Changed?
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Summary:
This paper investigates the transmission of monetary policy by private banks in Brazil during the recent easing cycle. The analysis presented uses a panel dataset with information on lending by private banks in Brazil and concludes that monetary transmission through lending volumes was not impaired. Instead, the observed diminished lending appears to be related to supply and demand factors, as well as to the rapid expansion of public banks’ lending.
Series:
Working Paper No. 2013/251
Subject:
Bank credit Banking Credit Financial institutions Loans Money Nonperforming loans State-owned banks
English
Publication Date:
December 17, 2013
ISBN/ISSN:
9781484312001/1018-5941
Stock No:
WPIEA2013251
Pages:
20
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