Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy (Record no. 133658)

MARC details
000 -LEADER
fixed length control field 01488nas a2200229Ia 4500
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022 ## - INTERNATIONAL STANDARD SERIAL NUMBER
International Standard Serial Number 0022-3808
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Buchak, Greg
9 (RLIN) 120189
245 #0 - TITLE STATEMENT
Title Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc. Journal of Political Economy
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Date of publication, distribution, etc. 2024
300 ## - PHYSICAL DESCRIPTION
Extent 616-693
520 ## - SUMMARY, ETC.
Abstract We empirically document two adjustment margins that are usually absent from the predominant “bank balance sheet lending” view of financial intermediation. For the shadow bank substitution margin, shadow banks substitute for traditional banks among loans that are easily sold. For the balance sheet retention margin, banks switch between balance sheet lending and selling loans based on their balance sheet strength. Estimates from a structural model show that these margins significantly shape policy responses, dampening the effect of capital requirements on lending whose costs are borne by wealthier borrowers. Secondary-market disruptions such as quantitative easing have significantly larger impacts on lending than capital requirements.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Bank Balance Sheet Lending
9 (RLIN) 120190
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Bank Regulation
9 (RLIN) 99728
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Banking
9 (RLIN) 689
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Monetary Policy
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Matvos, Gregor
9 (RLIN) 120191
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Piskorski, Tomasz
9 (RLIN) 120192
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Seru, Amit
9 (RLIN) 120193
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.journals.uchicago.edu/doi/10.1086/726703">https://www.journals.uchicago.edu/doi/10.1086/726703</a>
999 ## - SYSTEM CONTROL NUMBERS (KOHA)
Koha biblionumber 133658
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        Dr VKRV Rao Library Dr VKRV Rao Library 02/08/2024 Vol. 132, No. 2   AI311 02/08/2024 02/08/2024 Article Index