Macroeconomic uncertainty and bank lending
研究了挪威宏观经济不确定性对银行贷款的影响,发现整体不确定性会减少贷款,但这一效应主要由货币政策不确定性驱动。
We investigate the impact of macro-related uncertainty on bank lending in Norway. We show that an increase in general macroeconomic uncertainty reduces bank lending. Importantly, however, we show that this effect is largely driven by monetary policy uncertainty, suggesting that uncertainty about the monetary policy stance is key for understanding why macro-related uncertainty impacts bank lending.