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Do Bank Loans and Credit Standards Have an Effect on Output? A Panel Approach for the Euro Area

Cappiello, Lorenzo - 2010

Applying the identification strategy employed by Driscoll (2004) for the United States, this paper provides empirical evidence for the existence of a bank lending channel of monetary policy transmission in the euro area. In addition, and in contrast to recent findings for the US, we find that in...

Persistent link: https://www.econbiz.de/10013149067

Macroeconomic Propagation Under Different Regulatory Regimes : Evidence From an Estimated DSGE Model For the Euro Area

Darracq Paries, Matthieu - 2010

smooth flow of credit to the real economy. However, most existing structural macroeconomic models fail to take into account … the crucial role of banks' balance sheet adjustment in the propagation of shocks to the economy. This paper contributes to … monetary policy. We estimate a closed-economy dynamic stochastic general equilibrium (DSGE) model for the euro area with …

Persistent link: https://www.econbiz.de/10013137813

Macroprudential Policy in a Monetary Union with Cross-Border Banking

Darracq Paries, Matthieu - 2019

We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area countries (i.e. Germany, France, Italy, and Spain),...

Persistent link: https://www.econbiz.de/10012889411

Leaning Against the Wind : Macroprudential Policy and the Financial Cycle

Kok, Christoffer - 2019

Should monetary policy lean against financial stability risks? This has been a subject of fierce debate over the last decades. We contribute to the debate about “leaning against the wind” (LAW) along three lines. First, we evaluate the cost and benefits of LAW using the Svensson (2017)...

Persistent link: https://www.econbiz.de/10012894739

Bank Interest Rate Pass-Through in the Euro Area : A Cross Country Comparison

Kok, Christoffer; Werner, Thomas - 2021

The present paper investigates the pass-through between market interest rates and bank interest rates in the euro area. Compared to the large interest rate pass-through literature the paper mainly improves upon two points. First, a novel data set, partially based on new harmonised ECB bank...

Persistent link: https://www.econbiz.de/10013318106

Do bank loans and credit standards have an effect on output? A panel approach for the euro area

Cappiello, Lorenzo; Kadareja, Arjan; Kok, Christoffer; … - 2010

Persistent link: https://www.econbiz.de/10011605196