Bank loan portfolios and the monetary transmission mechanism

@inproceedings{Haan2007BankLP,
  title={Bank loan portfolios and the monetary transmission mechanism},
  author={Wouter J. den Haan and Steven W. Sumner and Guy M. Yamashiro},
  year={2007}
}
This paper investigates the portfolio behavior of bank loans following a monetary tightening. We find that real estate and consumer loans sharply decrease, while commercial and industrial (C&I) loans increase. We compare this behavior with the responses following non-monetary shocks, which also reduce output but keep interest rates roughly unchanged. During such a “non-monetary” downturn, C&I loans sharply decrease, while real estate and consumer loans show no substantial response. These… CONTINUE READING
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