BigTech credit and monetary policy transmission : micro-level evidence from China / Yiping Huang, Xiang Li, Han Qiu, Changhua Yu
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BigTech credit and monetary policy transmission
Discovery
1833062752
URN
urn:nbn:de:gbv:3:2-937452
DOI
ISBN
ISSN
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Skalierung
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Publication history
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [2023?]
Content
1 Online-Ressource (III, 39 Seiten, Seite A1-A4, 0,88 MB) : Diagramme
Edition
This version: 31.01.2023
Language
eng
Comment
Literaturverzeichnis: Seite 32-39
Abstract
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 credit amplifies monetary policy transmission mainly through the extensive margin. Specifically, the BigTech bank is more likely to grant credit to 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. In addition, monetary policy has a stronger impact on the real economy through BigTech lending.
Series
IWH-Diskussionspapiere ; 2022, no. 18 [rev.] ppn:837399270