How Long to Read The Zombie Lending Channel of Monetary Policy

How Long Does it Take to Read The Zombie Lending Channel of Monetary Policy?

It takes the average reader 1 hour and 2 minutes to read The Zombie Lending Channel of Monetary Policy by Bruno Albuquerque

Assuming a reading speed of 250 words per minute. Learn more

Description

We uncover a new channel—the zombie lending channel—in the transmission of monetary policy to nonfinancial corporates. This channel originates from the presence of unviable and unproductive (zombie) firms. We identify exogenous variation in monetary conditions around the world by exploiting the international transmission of US monetary policy shocks. We find that tighter monetary policy leads to more favorable credit conditions for zombie firms relative to other firms. Zombies are then able to cut investment and employment by relatively less. This is indicative of evergreening motives by lenders when interest rates rise: lenders face incentives to restructure existing loans of zombie firms to avoid the realization of losses on their balance sheets. Policies that strengthen banks’ balance sheets, that limit banks’ incentives to engage in risky behavior, and laws that allow an efficient resolution of weak firms, may help mitigate zombie lending practices when financial conditions tighten.

How long is The Zombie Lending Channel of Monetary Policy?

The Zombie Lending Channel of Monetary Policy by Bruno Albuquerque is 62 pages long, and a total of 15,624 words.

This makes it 21% the length of the average book. It also has 19% more words than the average book.

How Long Does it Take to Read The Zombie Lending Channel of Monetary Policy Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 25 minutes to read The Zombie Lending Channel of Monetary Policy aloud.

What Reading Level is The Zombie Lending Channel of Monetary Policy?

The Zombie Lending Channel of Monetary Policy is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The Zombie Lending Channel of Monetary Policy?

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