[Finance] 라낙 푼갈리야, 하산 나크비 교수 - Bank size and the transmission of monetary policy: Revisiting the lending channel
- SKKGSB
- Hit1108
- 2022-11-18
Area | Finance | |
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Faculty | Pungaliya, Raunaq Naqvi, Hassan | |
Journal | Journal of Banking & Finance | |
Title | Bank size and the transmission of monetary policy: Revisiting the lending channel |
SKK GSB 라낙 푼갈리야 부원장 겸 교수와 이전에 SKK GSB에서 재직했던 하산 나크비 교수의 논문 "Bank size and the transmission of monetary policy: Revisiting the lending channel"가 Journal of Banking & Finance 에 게재 수락 되었다. 하산 나크비 교수는 현재 호주 모나쉬 대학에서 Banking & Finance 전공 교수로 재직하고 있다. Journal of Banking & Finance 학술지는 금융 기관, 자본 시장, 투자 및 기업 금융에 대한 연구를 다룬다. 2011년 글로벌 엘리트 금융 학술지 중 6위를 기록한 바 있다.
Abstract
We model how monetary policy shocks affect the lending behavior of small and large banks. Other things being equal, small banks are riskier than large banks since the latter are more likely to be bailed out. Thus, small banks face a higher cost of non-deposit financing and are unable to finance liquidity shocks at a cost below a certain threshold. Consequently, we show that under a tight monetary regime small bank lending is more sensitive to monetary shocks. This relation reverses under loose monetary regimes where large bank lending is more responsive to monetary shocks. Our empirical results strongly support our analysis.
Keywords
Bank Size; Lending Channel; Monetary Policy; Too-Big-to-Fail