The DOI matches its Crossref record; 60 of the 60 references it cites were found in a registry or an index.
The International Bank Lending Channel of Monetary Policy Rates and QE: Credit Supply, Reach‐for‐Yield, and Real Effects
Abstract
We identify the international credit channel by exploiting Mexican supervisory data sets and foreign monetary policy shocks in a country with a large presence of European and U.S. banks. A softening of foreign monetary policy expands credit supply of foreign banks (e.g., U.K. policy affects credit supply in Mexico via U.K. banks), inducing strong firm‐level real effects. Results support an international risk‐taking channel and spillovers of core countries’ monetary policies to emerging markets, both in the foreign monetary softening part (with higher credit and liquidity risk‐taking by foreign banks) and in the tightening part (with negative local firm‐level real effects).
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Credit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
Inside the black box: the credit channel of monetary policy transmission
Bernanke, B. S., & Gertler, M. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.27 · Cited by 4,211
Selection on observed and unobserved variables: Assessing the effectiveness of Catholic schools
Altonji, J. G., Elder, T. E., & Taber, C. R. (2005) · Journal of Political Economy · doi:10.1086/426036 · Cited by 3,706
This Time Is Different: Eight Centuries of Financial Folly
Reinhart, C. M., & Rogoff, K. S. (2009) · Princeton University Press eBooks · doi:10.1515/9781400831722 · Cited by 3,390
The federal funds rate and the channels of monetary transmissionPreprint
Bernanke, B., & Blinder, A. S. (1989) · RePEc: Research Papers in Economics · Cited by 2,833
Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870–2008
Schularick, M., & Taylor, A. M. (2012) · American Economic Review · doi:10.1257/aer.102.2.1029 · Cited by 2,647
Small and medium-size enterprises: Access to finance as a growth constraint
Beck, T., & Demirguc-Kunt, A. (2006) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2006.05.009 · Cited by 2,607
What Do a Million Observations on Banks Say About the Transmission of Monetary Policy?
Kashyap, A. K., & Stein, J. C. (2000) · American Economic Review · doi:10.1257/aer.90.3.407 · Cited by 2,495
A model of unconventional monetary policy
Gertler, M., & Karadi, P. (2011) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2010.10.004 · Cited by 2,393
This Time Is Different: Eight Centuries of Financial Folly
REINHART, C. M., & ROGOFF, K. S. (2009) · Princeton University Press eBooks · doi:10.2307/j.ctvcm4gqx · Cited by 2,357
Cited by
US Monetary Policy and the Global Financial Cycle
Miranda-Agrippino, S., & Rey, H. (2015) · National Bureau of Economic Research · doi:10.3386/w21722 · Cited by 490
Monetary stimulus and bank lending
Chakraborty, I., Goldstein, I., & MacKinlay, A. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.09.007 · Cited by 259
Metadata
- Authors
- MORAIS, B., PEYDRÓ, J., ROLDÁN‐PEÑA, J., & RUIZ‐ORTEGA, C.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2019-01-25
- Volume
- 74
- Issue
- 1
- Pages
- 55-90
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2234812752
- Cited by
- 265
- References
- 60
- FWCI
- 52.06
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: The International Bank Lending Channel of Monetary Policy Rates and QE: Credit Supply, Reach‐for‐Yield, and Real Effects. https://app.cochat.ai/papers/10.1111/jofi.12735
- The paper
- MORAIS, B., PEYDRÓ, J., ROLDÁN‐PEÑA, J., & RUIZ‐ORTEGA, C. (2019). The International Bank Lending Channel of Monetary Policy Rates and QE: Credit Supply, Reach‐for‐Yield, and Real Effects. The Journal of Finance. https://doi.org/10.1111/jofi.12735
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
