Identifying the Macroeconomic Effect of Loan Supply Shocks

By J. Peek, Eric S. Rosengren, Geoffrey M. B. Tootell. 2003

150 citations recorded by the source corpus.

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The Bank Lending Channel Revisited (2011, background): “…et al. (2002) find that measures of bank health — as well as bank size, efficiency, and market share — are useful instruments for the interest rate that banks charge on their loans, while Peek et al. (2003) show that variations in aggregate bank health has a significant effect on the real economy.”
The role of banks in the transmission of monetary policy (2012, background): “Taking still a different tack, Peek, Rosengren, and Tootell (2003) obtain evidence of a macroeconomic effect of shifts in bank loan supply.”
Loan Supply Shocks During the Financial Crisis: Evidence for the Euro Area (2012, background): “As Bernanke and Gertler (1995), Oliner and Rudebusch (1996) and Peek et al. (2003) point out, empirical research faces the difficulty to disentangle movements of bank loans into shocks to loan supply and loan demand.2 In order 1In the standard DSGE model, banks usually do not play a particular…”
Loan Supply Shocks and the Business Cycle (2017, unknown): “We use a time-varying VAR model with stochastic volatility as in Primiceri (2005) and Canova and Gambetti (2009).”
The Real Effects of Financial Sector Interventions During Crises (2011, background): “Peek et al. (2003) identify loan supply shocks using CAMEL ratings of U.S. banks and find that bank health has economically significant effects on the U.S. economy.”