Narrow search
Showing 1 - 10 of 261
Cover Image
The Credit Channel in the Netherlands: Evidence from Bank Balance Sheets
Haan, L. de - de Nederlandsche Bank - 2001
This study contributes to the empirical evidence on the lending channel in the Netherlands using individual bank data. The main conclusion is that a lending channel is operative in the Netherlands. However, it is only operative for unsecured and not for secured lending, possibly because loans...
Persistent link: https://www.econbiz.de/10005021861
Cover Image
"Leaning Against the Wind" and the Timing of Monetary Pollicy
Agur, Itai; Demertzis, Maria - de Nederlandsche Bank - 2011
If monetary policy is to aim also at financial stability, how would it change? To analyze this question, this paper develops a general-form, axiomatic framework. Financial stability objectives are shown to make a monetary authority more aggressive. By that we mean that in reaction to negative...
Persistent link: https://www.econbiz.de/10009192030
Cover Image
Monetary Policy and Excessive Bank Risk Taking
Agur, Itai; Demertzis, Maria - de Nederlandsche Bank - 2010
burden of the banking sector is modest. We model a regulator whose trade-off between bank risk and credit supply is derived …
Persistent link: https://www.econbiz.de/10008774017
Cover Image
A dynamic network model of the unsecured interbank lending market
Blasques, Francisco; Bräuning, Falk; Lelyveld, Iman van - de Nederlandsche Bank - 2015
bargain about loan conditions. To reduce credit risk uncertainty, banks can engage in costly peer monitoring of counterparties … particular, peer monitoring and credit risk uncertainty are key factors in the formation of stable interbank lending … relationships that are associated with improved credit conditions. Moreover, the estimated degree distribution of the lending …
Persistent link: https://www.econbiz.de/10011185013
Cover Image
Money Rules
Ullersma, Cees; Berk, Jan Marc; Chapple, Bryan - de Nederlandsche Bank - 2006
We assess a New Keynesian macro-economic model that is supplemented with a micro-founded role for money in determining aggregate demand and supply in order to better describe monetary policy transmission. In this model welfare is higher if the monetary authority takes money growth explicitly...
Persistent link: https://www.econbiz.de/10005106641
Cover Image
Liquidity effects and the welfare costs of inflation in an endogenous growth model
Folkertsma, C. K. - de Nederlandsche Bank - 2000
The paper has two subjects. The first subject is the development of a monetary general equilibrium model with endogenous growth. By combining the two-sector endogenous growth model and the limited participation approach, the model is able to explain the empirically observed liquidity effect of...
Persistent link: https://www.econbiz.de/10005021865
Cover Image
Nominal wage contracts, adjustment costs and real persistence of monetary shocks
Folkertsma, C.K. - de Nederlandsche Bank - 1998
This paper describes a model in which monetary shocks have persistent real effects. Starting from the limited participation model of Christiano (1991) with capital adjustment costs as suggested by Dow (1995) it is confirmed that costs of equipment installation and restrictions on consumer...
Persistent link: https://www.econbiz.de/10005021869
Cover Image
Shocking the Eurozone
Vlaar, P.J.G. - de Nederlandsche Bank - 2002
In this paper, the monetary transmission mechanism within the European Monetary Union is investigated. The impulse response functions and forecast error variance decompositions of a structural vector error correction model (SVECM) are compared with those of a New Keynesian theoretical model. The...
Persistent link: https://www.econbiz.de/10005021880
Cover Image
Germany and the euro area: differences in the transmission process of monetary policy
Hubrich, K.S.E.M.; Vlaar, P.J.G. - de Nederlandsche Bank - 2000
This study analyses the transmission of monetary policy in Germany for the EMS period in the framework of a structural vector error correction model (S-VECM) analysis. Three stable cointegration relationships are found: a money demand relation, an interest rate spread and a stationary real...
Persistent link: https://www.econbiz.de/10005101872
Cover Image
On the Cost of Moving from a Quasi Monetary Union to a Full Monetary Union: The Case of the Netherlands
Jansen, W. Jos - de Nederlandsche Bank - 2000
/mark exchange rate. Although monetary policy shocks are quite small, they do have plausible effects: credit, expenditures, output …
Persistent link: https://www.econbiz.de/10005101920