BIS paper highlights change in bank-lending channel
A Bank for International Settlements paper published on Monday finds evidence of structural changes in banks' business models and market funding patterns that modified the monetary transmission mechanism prior to the financial crisis.
Leonardo Gambacorta and David Marques-Ibanez, the paper's authors, use bank level data on more than 1,000 banks from European Union member states and the US to shed new light on the functioning of the bank lending channel.
Gambacorta and Marques-Ibanez find
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