Bigtech credit and monetary policy transmission : micro-level evidence from China / Yiping Huang, Xiang Li, Han Qiu, Changhua Yu
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Discovery
1813084572
URN
urn:nbn:de:gbv:3:2-899454
DOI
ISBN
ISSN
Autorin / Autor
Beiträger
Körperschaft
Erschienen
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [03. August 2022]
Umfang
1 Online-Ressource (III, 37 Seiten, A1, 2,43 MB) : Diagramme
Ausgabevermerk
Sprache
eng
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Inhaltliche Zusammenfassung
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.
Schriftenreihe
IWH-Diskussionspapiere ; 2022, no. 18 ppn:837399270