Arbeitspapier
Technological innovation and the bank lending channel of monetary policy transmission
This paper studies whether and how banks' technological innovations affect the bank lending channel of monetary policy transmission. We first provide a theoretical model in which banks' technological innovation relaxes firms' earning-based bor rowing constraints and thereby enlarges the response of banks' lending to mone tary policy changes. To test the empirical implications, we construct a patent-based measurement of bank-level technological innovation, which can specify the nature of technology and tell whether it is related to the bank's lending business. We find that lending-related innovations significantly strengthen the transmission of the bank lending channel.
- Sprache
-
Englisch
- Erschienen in
-
Series: IWH Discussion Papers ; No. 14/2021
- Klassifikation
-
Wirtschaft
Monetary Policy
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- Thema
-
bank lending channel
FinTech
innovation
monetary policy transmission
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hasan, Iftekhar
Li, Xiang
Takalo, Tuomas
- Ereignis
-
Veröffentlichung
- (wer)
-
Halle Institute for Economic Research (IWH)
- (wo)
-
Halle (Saale)
- (wann)
-
2023
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hasan, Iftekhar
- Li, Xiang
- Takalo, Tuomas
- Halle Institute for Economic Research (IWH)
Entstanden
- 2023
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