Financial intermediation and bank spreads are important elements in the analysis of business cycle transmission and … relationships in the banking sector can lead to indeterminacy of equilibrium forcing the central bank to react to spread movements. …

Bank of the Republic of Macedonia (NBRM), which is complemented with data from banks' balance sheets. By using pooled OLS …, although the effect is relatively small. The results prove to be robust after controlling for several bank, loan and time …

monetary and macroprudential policy. We show that the regulatory bank's capital requirement has a multiplier effect that … face of both negative demand and bank equity shocks, if such shocks are not highly persistent. As shock persistence …

We investigate the transmission of monetary policy to investment using Norwegian administrative data. We have two main … that firm heterogeneity plays a minor role in monetary transmission. Second, we disentangle the investment channel of … investment channel of monetary policy is due almost exclusively to direct effects. The two results imply that a representative …

The bank lending channel theory posits that during monetary contractions banks restrict some firms' loans, thus … reducing their desired investment independently of interest rates. Previous research finds small firms reduce, while large … demand. It supports the bank lending channel: they do not voluntarily cut bank loans since they increase a less …

the announcement. By measuring monetary policy expectations through surveys conducted by the Central Bank of the Republic …

Impact of changes in policy rate of interest on demand for bank credit is examined for seven emerging market economies … controlled for, change in policy rate of interest is an important determinant of firms' demand for bank credit. The results …

guarantee existence. When investment adjustment costs are introduced, the monetary and fiscal policy dichotomy is in principle …

We model entrepreneurial finance using a combination of fiat money, traditional bank loans, and home equity loans. The … banking sector is over-the-counter, where bargaining determines the pass-through from the nominal interest rate to the bank …

expectations of firm profitability. We use an existing decomposition of a monetary policy shock into a central bank information … (CAPM) beta have a higher investment rate sensitivity to the CBI component; no similar heterogeneity in investment response … is observed for the MP component. We also find (2) the heterogeneity in investment sensitivity is due to innovations to …