The bank lending channel of monetary policy : does the financial structure of banks matter

Borradores de Economia
Number: 
953
Published: 
Classification JEL: 
E5, E52, E59, G21
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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This paper tests the importance of the financial structure of banks in the bank lending channel of monetary policy transmission in Colombia, using an unbalanced panel of 51 banks for the period of 1996:4-2014:8. We find that an increase in the interbank r