000	02267nam  2200361zi 4500
001	9.905824
003	CaOODSP
005	20221107180937
006	m     o  d f
007	cr |n|||||||||
008	211209t20212021oncd    ob   f|0| 0 eng d
040	|aCaOODSP|beng|erda|cCaOODSP
043	|an-cn---
086	1 |aFB3-5/2021-62E-PDF
100	1 |aCao, Jin, |eauthor.
245	10|aMonetary policy spillover to small open economies : |bis the transmission different under low interest rates? / |cby Jin Cao, Valeriya Dinger, Tomás Gómez, Zuzana Gric, Martin Hodula, Alejandro Jara, Ragnar Juelsrud, Karolis Liaudinskas, Simona Malovaná, and Yaz Terajima.
264	1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2021.
264	4|c©2021
300	|a1 online resource (ii, 45 pages) : |bcharts.
336	|atext|btxt|2rdacontent
337	|acomputer|bc|2rdamedia
338	|aonline resource|bcr|2rdacarrier
490	1 |aStaff working paper = |aDocument de travail du personnel, |x1701-9397 ; |v2021-62
500	|a"Last updated: November 30, 2021."
504	|aIncludes bibliographical references (page 28).
520	|a"We explore the impact of low and negative monetary policy rates in core world economies on bank lending in four small open economies—Canada, Chile, the Czech Republic and Norway—using confidential bank-level data. Our results show that the impact on lending in these small open economies depends on the interest rate level in the core. When interest rates are high, monetary policy cuts in core economies can reduce credit supply in small open economies. In contrast, when interest rates in core economies are low, further expansionary monetary policy increases lending in small open economies, consistent with an international bank lending channel"--Abstract.
650	0|aMonetary policy.
650	0|aInterest rates|xEconometric models.
650	6|aPolitique monétaire.
650	6|aTaux d'intérêt|xModèles économétriques.
710	2 |aBank of Canada, |eissuing body.
830	#0|aStaff working paper (Bank of Canada)|v2021-62.|w(CaOODSP)9.806221
856	40|qPDF|s1.30 MB|uhttps://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-5-2021-62-eng.pdf