This paper tests for the presence of a credit channel (particularly a bank-lending sub-channel) for monetary policy in … with the existence of a broad credit channel, whereas the bank-lending channel seems to be operational only under certain … suggests the existence of a clear relationship between the presence of a credit (bank lending) channel, the efficiency level of …

It has been widely accepted that constraints on the wholesale funding of bank balance sheets amplify the transmission … of monetary policy through what is called the ‘bank lending channel’. We show that the effect of such bank balance sheet … models of household and corporate portfolios, that the bank lending channel attenuates monetary policy transmission. We …

financial systems. The main interest is in examining whether the bank lending channel of monetary policy results in asymmetric … responses to the common monetary policy. In particular, a larger size and a lower degree of capitalisation of a banking sector … are found to strengthen the bank lending channel on the aggregate level. …

Building on Cecchetti and Li (2005), we show that the bank lending channel affects monetary policy trade-offs only when … monetary policy model. In our calibrated model the resulting impact of the bank lending channel on output-inflation trade …-offs is quantitatively small and of ambiguous sign. When bank capital varies counter cyclically and bank loan rates have a …

This article investigates the nexus of competition and stability in European banking. It analyzes the European legal … framework for competition policy in banking and several cases that pertain to anti-cartel policy, merger policy, and state …-aid control. It discusses whether and how competition policy should be amended in order to preserve the stability of the banking …