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Money and inflation : lessons from the US for ECB monetary policy
Belke, Ansgar; Polleit, Thorsten - 2007
We turn our attention to the role of money for determining nominal magnitudes. Using US data, we find that the … aggregate “nominal output plus and stock market capitalisation” is closely related to the money stock, lending support to one of … keep a very close eye on money supply if it wants to prevent consumer and/or asset price inflation. …
Persistent link: https://www.econbiz.de/10010206409
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Did interest rates at the zero lower bound affect lending of commercial banks? : evidence for the euro area
Belke, Ansgar; Dreger, Christian - 2019
The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small …- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based … on the Bankscope database, bank balance sheet data is utilized. Control variables are included, such as for the system of …
Persistent link: https://www.econbiz.de/10012063954
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Did interest rates at the zero lower bound affect lending of commercial banks? : evidence for the Euro area
Belke, Ansgar; Dreger, Christian - In: Jahrbücher für Nationalökonomie und Statistik 239 (2019) 5/6, pp. 841-861
Persistent link: https://www.econbiz.de/10012122225
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Financial factors in economic fluctuations
Christiano, Lawrence J.; Motto, Roberto; Rostagno, Massimo - 2010
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10003973320
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Does bank efficiency affect the bank lending channel in China?
Fungáčová, Zuzana; Kerola, Eeva; Weill, Laurent - 2021
This work examines the impact of bank efficiency on the bank lending channel in China. Using a sample of 175 Chinese … bank's efficiency. While bank efficiency does not exert an impact on the effectiveness of monetary policy transmission … expansion of shadow banking activities has been associated with a positive impact of bank efficiency on monetary policy …
Persistent link: https://www.econbiz.de/10012431914
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Does bank efficiency affect the bank lending channel in China?
Fungáčová, Zuzana; Kerola, Eeva; Weill, Laurent - In: Emerging markets review 55 (2023), pp. 1-22
Persistent link: https://www.econbiz.de/10014481147
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Does Bank Efficiency Affect the Bank Lending Channel in China?
Fungáčová, Zuzana; Kerola, Eeva; Weill, Laurent - 2021
This work examines the impact of bank efficiency on the bank lending channel in China. Using a sample of 175 Chinese … bank’s efficiency. While bank efficiency does not exert an impact on the effectiveness of monetary policy transmission … expansion of shadow banking activities has been associated with a positive impact of bank efficiency on monetary policy …
Persistent link: https://www.econbiz.de/10013247758
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Financial Factors in Economic Fluctuations
Christiano, Lawrence J.; Motto, Roberto; Rostagno, Massimo - 2021
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10013316211
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Money and inflation: Lessons from the US for ECB monetary policy
Belke, Ansgar; Polleit, Thorsten - 2007
We turn our attention to the role of money for determining nominal magnitudes. Using US data, we find that the … aggregate 'nominal output plus and stock market capitalisation' is closely related to the money stock, lending support to one of … keep a very close eye on money supply if it wants to prevent consumer and/or asset price inflation. …
Persistent link: https://www.econbiz.de/10010327296
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Political cycles and bank lending in Russia
Fungáčová, Zuzana; Schoors, Koen; Solanko, Laura; … - 2020
State-owned banks tend to increase lending before elections for the purpose of boosting the re-election odds of incumbent politicians. We employ monthly data on individual banks to study whether Russian banks increased their lending before presidential elections during 2004-2019, a period...
Persistent link: https://www.econbiz.de/10012182004