Causal ordering and βThe bank lending ch
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Stephen J. Perez
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Article
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1998
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John Wiley and Sons
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English
β 148 KB
The bank lending channel implies the Federal Reserve can inΒ―uence real income by controlling the level of intermediated loans. Using the notion of causality developed by Simon (1953) and the causal order methodology developed by Hoover (1990), I test for an operative bank lending channel in the tran