00000nam 2200000zi 4500 9.919011 CaOODSP 20230111133305 m o d f cr |n||||||||| 230111t20222022oncd ob f|0| 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-cn--- FB3-5/2022-49E-PDF Champagne, Julien, author. Monetary policy, credit constraints and SME employment / by Julien Champagne and Émilien Gouin-Bonenfant. [Ottawa] : Bank of Canada = Banque du Canada, 2022. ©2022 1 online resource (ii, 42 pages) : charts. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2022-49 "Last updated: December 9, 2022." Includes bibliographical references (pages 34-36). "Do financial constraints amplify or dampen the transmission of monetary policy to the real economy? To answer this question, we propose a simple empirical strategy that combines (i) firm-level employment and balance sheet data, (ii) identified monetary policy shocks and (iii) survey data on financing activities. The key novelty of our approach is a new proxy for the likelihood of being credit constrained, which is constructed using survey data on realized outcomes of financing requests"--Abstract. Includes abstract in French. Monetary policy. Credit control Econometric models. Politique monétaire. Crédit Politique gouvernementale Modèles économétriques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2022-49. (CaOODSP)9.806221 PDF 1.26 MB https://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-5-2022-49-eng.pdf