Arbeitspapier
The risk-taking channel of monetary policy in the US: Evidence from corporate loan data
To study the presence of a risk-taking channel in the US, we build a comprehensive dataset from the syndicated corporate loan market and measure monetary policy using different measures, most notably Taylor (1993) and Romer and Romer (2004) residuals. We identify a negative relation between monetary policy rates and bank risk-taking, especially in the run up to the 2007 financial crisis. However, this effect is purely supply-side driven only when using Taylor residuals and an ex ante measure of bank risk-taking. Our results highlight the sensitivity of the potency of the risk-taking channel to the measures of monetary policy innovations.
- ISBN
-
978-952-323-175-7
- Sprache
-
Englisch
- Erschienen in
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Series: Bank of Finland Research Discussion Papers ; No. 18/2017
- Klassifikation
-
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Crises
Interest Rates: Determination, Term Structure, and Effects
Monetary Policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Delis, Manthos D.
Hasan, Iftekhar
Mylonidis, Nikolaos
- Ereignis
-
Veröffentlichung
- (wer)
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Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 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
- Delis, Manthos D.
- Hasan, Iftekhar
- Mylonidis, Nikolaos
- Bank of Finland
Entstanden
- 2017
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