| Finance and Economics Discussion Series |
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The Effects of Local Banking Market Structure on the Banking-Lending Channel of Monetary Policy Robert M. Adams and Dean F. Amel 2005-16 |
Abstract: We study the relationship between banking competition and the transmission of monetary
policy through the bank lending channel. Using business small loan origination data
provided from the Community Reinvestment Act from 1996-2002 in our analysis, we are
able to reaffirm the existence of the bank lending channel of monetary transmission.
Moreover, we find that the impact of monetary policy on loan originations is weaker in
more concentrated markets.
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Last update: April 12, 2005