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This paper identifies exogenous monetary policy shocks based on the high frequency transaction data of China’s interest rate swap market, and explores the ‘signaling channel’ of monetary policy by investigating the transmission of different monetary policy instruments on economic...
Persistent link: https://www.econbiz.de/10014257328
This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly through the extensive margin. Specifically,...
Persistent link: https://www.econbiz.de/10014355209
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This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech loans tend to be smaller, and the BigTech bank grants credit to more new borrowers compared with...
Persistent link: https://www.econbiz.de/10013336395
This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech loans tend to be smaller, and the BigTech bank grants credit to more new borrowers compared with...
Persistent link: https://www.econbiz.de/10013403069
This paper provides both theoretical and empirical analyses of the differences between BigTech lenders and traditional banks in response to monetary policy changes. Our model integrates Knightian uncertainty into portfolio selection and posits that BigTech lenders possess a diminishing...
Persistent link: https://www.econbiz.de/10014517651
This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly through the extensive margin. Specifically,...
Persistent link: https://www.econbiz.de/10014248716