![]() |
| An einem Rechner der Bibliothek verfügbar |
|
| | Nachweis | Kein Nachweis verfügbar |
|
| This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks it finds that BigTech loans tend to be smaller and the BigTech bank grants credit to more new borrowers compared with conventional banks in response to expansionary monetary policy. The BigTech bank‘s advantages in information monitoring and risk management are the potential mechanisms. The analysis also finds that BigTech and traditional bank credits to firms that have already borrowed from these banks respond similarly to changes in monetary policy. Overall BigTech credit amplifies monetary policy transmission mainly through the extensive margin. In addition monetary policy has a stronger impact on the real economy through BigTech lending than traditional bank loans. |
|
|