Fricke, Daniel; Greppmair, Stefan; Paludkiewicz, Karol - 2024
We show that the transmission of the European Central Bank's (ECB) recent monetary policy tightening differs across … when the interest rate paid on reserves increases strongly. Focusing on the ECB's 2022 rate hiking cycle, we show that … reserve-rich banks' credit supply is less sensitive to the monetary policy tightening compared to other banks. The effect …