How the credit channel works: differentiating the bank lending channel and the balance sheet channel

The credit channel of monetary policy transmission operates through changes in lending. To examine this channel, we explore how movements in the real federal funds rate affect bank lending. Using data on individual loans from the Survey of Terms of Bank Lending, we are able to differentiate two ways the credit channel can work: by affecting overall bank lending (the bank lending channel) and by affecting the allocation of loans (the balance sheet channel). We find evidence consistent with the operation of both internal credit channels. During periods of tight monetary policy, banks adjust their stock of loans by reducing the maturity of loan originations and they reallocate their short-term loan supply from small firms to large firms. These results are stronger for large banks than for small banks.Monetary policy ; Bank loans

How the credit channel works: Differentiating the bank lending channel and the balance sheet channel

The credit channel of monetary policy transmission operates through changes in lending. To examine this channel, we explore how movements in the real federal funds rate affect bank lending. Using data on individual loans from the Survey of Terms of Bank Lending, we are able to differentiate two ways the credit channel can work: by affecting overall bank lending (the bank lending channel) and by affecting the allocation of loans (the balance sheet channel). We find evidence consistent with the operation of both internal credit channels. During periods of tight monetary policy, banks adjust their stock of loans by reducing the maturity of loan originations and they reallocate their short-term loan supply from small firms to large firms. These results are stronger for large banks than for small banks

Transitional Justice in Tunisia: Negotiating Justice during Transition

On 14 January 2011 the overthrow of President Zine al-Abidine Ben Ali left Tunisia confronted with the task of addressing the dual legacy of Ben Ali’s violent crackdown on protesters in the weeks preceding his ouster and decades of widespread human rights abuses. In the immediate aftermath of 14 January, interim governments launched a number of improvised efforts to deal with the past. These efforts included investigative commissions, compensation, vetting of former regime officials, and criminal trials. However, it was only after the election of the National Constituent Assembly in October 2011 that there was a concerted effort to draft a comprehensive law on transitional justice. Tunisia’s Ministry of Human Rights and Transitional Justice launched a national consultation to define and shape transitional justice mechanisms for post-Ben Ali Tunisia. This article argues that although Tunisia’s national consultation on transitional justice can be heralded as a novel consultative initiative to transmit transitional justice demands into transitional justice legislation, it has also served to highlight contested visions of the post-Ben Ali state and contested memories of Tunisia’s secularist and Islamist political traditions

Transitional Justice in Tunisia: Negotiating Justice during Transition

On 14 January 2011 the overthrow of President Zine al-Abidine Ben Ali left Tunisia confronted with the task of addressing the dual legacy of Ben Ali’s violent crackdown on protesters in the weeks preceding his ouster and decades of widespread human rights abuses. In the immediate aftermath of 14 January, interim governments launched a number of improvised efforts to deal with the past. These efforts included investigative commissions, compensation, vetting of former regime officials, and criminal trials. However, it was only after the election of the National Constituent Assembly in October 2011 that there was a concerted effort to draft a comprehensive law on transitional justice. Tunisia’s Ministry of Human Rights and Transitional Justice launched a national consultation to define and shape transitional justice mechanisms for post-Ben Ali Tunisia. This article argues that although Tunisia’s national consultation on transitional justice can be heralded as a novel consultative initiative to transmit transitional justice demands into transitional justice legislation, it has also served to highlight contested visions of the post-Ben Ali state and contested memories of Tunisia’s secularist and Islamist political traditions

The data we have : Pregnancy and birth related data collection in Australia, Canada, Europe and the USA – A web-based survey of practice

Acknowledgements The authors would like to thank all of the databank custodians who participated in the survey in order to help us determine the pregnancy and birth data that is collected across Europe, Canada and the USA.Peer reviewedPublisher PD