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Author:Campello, Murillo 

Conference Paper
Expected returns, yield spreads, and asset pricing tests

Proceedings

Conference Paper
On the role of firm balance sheets in the transmission mechanism

Proceedings , Paper 812

Report
Borrowers' financial constraints and the transmission of monetary policy: evidence from financial conglomerates

Building on recent evidence concerning the functioning of internal capital markets in financial conglomerates, we conduct a novel test of the balance-sheet channel of monetary policy. Specifically, we investigate how the response of lending to monetary policy differs across small banks that are affiliated with the same bank holding company but operate in different geographical areas. These banks face similar constraints in accessing internal and external sources of funds, but have different pools of borrowers. Because they typically concentrate their lending with small local businesses, we ...
Staff Reports , Paper 153

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Bank loans 2 items

Monetary policy 2 items

Asset pricing 1 items

Bank deposits 1 items

Capital market 1 items

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