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Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?
Acharya, Viral V. - 2019
We investigate the transmission of central bank liquidity to bank deposits and loan spreads in Europe over the January 2006 to June 2010 period. We find evidence consistent with an impaired transmission channel due to bank risk. Central bank liquidity does not translate into lower loan spreads...
Persistent link: https://www.econbiz.de/10012889089
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Heterogeneity in money holdings across euro area countries : the role of housing
Setzer, Ralph; Noord, Paul Joseph van den; Wolff, Guntram B. - 2010
In this paper we examine why monetary aggregates of euro area Member States have developed differently since the … inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution …
Persistent link: https://www.econbiz.de/10010208778