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The euro area Bank Lending Survey matters : empirical evidence for credit and output growth

Bondt, Gabe J. de; Maddaloni, Angela; Peydró, José-Luis - 2010

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...

Persistent link: https://www.econbiz.de/10003971193

Heterogeneous transmission mechanism : monetary policy and financial fragility in the euro area

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2013

Persistent link: https://www.econbiz.de/10009765457

Monetary policy, macroprudential policy and banking stability : evidence from the euro area

Maddaloni, Angela; Peydró, José-Luis - 2013

Persistent link: https://www.econbiz.de/10009766352

Dismantling the boundaries of the ECB's monetary policy mandate : the CJEU's OMT judgement and its consequences

Feld, Lars P. (contributor); Fuest, Clemens (contributor); … - Stiftung Marktwirtschaft / Kronberger Kreis - 2016

The German Federal Constitutional Court (Bundesverfassungsgericht) submitted an order for referral to the European Court of Justice (CJEU) in 2014, asking it to clarify the compatibility of the "Outright Monetary Transactions" (OMT)-Programme with European Union law. The OMT-Programme prepares...

Persistent link: https://www.econbiz.de/10011445584

Cross-border liquidity, relationships and monetary policy : evidence from the Euro area interbank crisis

Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2014 - This version: November 2014

October 2008 and announces the 3-year LTRO in December 2011, with economically stronger effects for borrowers in weaker …

Persistent link: https://www.econbiz.de/10010471858

Trusting the Bankers : A New Look at the Credit Channel of Monetary Policy

Ciccarelli, Matteo - 2010

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...

Persistent link: https://www.econbiz.de/10013141032

Heterogeneous Transmission Mechanism : Monetary Policy and Financial Fragility in the Euro Area

Ciccarelli, Matteo - 2013

affected the transmission mechanism of the single Euro area monetary policy during the crisis until the end of 2011. The …. At the same time, when looking at the transmission through banks of different sizes, it seems that, until the end of 2011 … small banks tend to lend primarily to SME, we infer that the policies adopted until the end of 2011 might have fall short of …

Persistent link: https://www.econbiz.de/10013085173

Trusting the Bankers : A New Look at the Credit Channel of Monetary Policy

Maddaloni, Angela - 2013

Credit supply and demand changes are mostly unobserved, thus identifying completely the transmission of monetary policy through the credit channel is unfeasible. Bank lending surveys by central banks, however, contain reliable quarterly information on changes in loan conditions due to bank, firm...

Persistent link: https://www.econbiz.de/10013093820

Negative Monetary Policy Rates and Systemic Banks’ Risk-Taking : Evidence from the Euro Area Securities Register

Bubeck, Johannes - 2020

We show that negative monetary policy rates induce systemic banks to reach-for-yield. For identification, we exploit the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for the 26 largest euro area banking groups. Banks with more...

Persistent link: https://www.econbiz.de/10012836176

Monetary Policy and Bank Profitability in a Low Interest Rate Environment

Altavilla, Carlo - 2017

We analyse the impact of standard and non-standard monetary policy measures on bank profitability. For empirical identification, the analysis focuses on the euro area, thereby exploiting substantial bank and country heterogeneity within a monetary union where the central bank has implemented a...

Persistent link: https://www.econbiz.de/10012945753