Showing 1 - 10 of 258
We analyse the effects of supranational versus national banking supervision on credit supply, and its interactions with … monetary policy. For identification, we exploit: (i) a new, proprietary dataset based on 15 European credit registers; (ii) the … supervision reduces credit supply to firms with very high ex-ante and ex-post credit risk, while stimulating credit supply to …
Persistent link: https://www.econbiz.de/10012844932
We analyse the effects of supranational versus national banking supervision on credit supply, and its interactions with … monetary policy. For identification, we exploit: (i) a new, proprietary dataset based on 15 European credit registers; (ii) the … supervision reduces credit supply to firms with very high ex-ante and ex-post credit risk, while stimulating credit supply to …
Persistent link: https://www.econbiz.de/10012137670
We analyse the effects of supranational versus national banking supervision on credit supply, and its interactions with … monetary policy. For identification, we exploit: (i) a new, proprietary dataset based on 15 European credit registers; (ii) the … supervision reduces credit supply to firms with very high ex-ante and ex-post credit risk, while stimulating credit supply to …
Persistent link: https://www.econbiz.de/10012389552
with monetary policy. For identification, we exploit: (i) a new, proprietary dataset based on 15 European credit registers …-country difference within and outside the euro area. First, supranational supervision reduces credit supply to firms with high credit … risk, but strengthens credit supply to firms without loan delinquencies, especially for banks operating in stressed …
Persistent link: https://www.econbiz.de/10012390738
This paper applies the identified VAR methodology to synthetic euro area data from 1980 till 1998 to study the macro-economic effects of an unexpected change in monetary policy in the euro area. The focus is on the area-wide monetary transmission. It is shown that the overall macro-economic...
Persistent link: https://www.econbiz.de/10013320267
We use a version of the New Area-Wide Model (NAWM) developed at the ECB in order to quantify the gains from monetary policy cooperation. The model is calibrated in order to match a set of empirical moments. We then derive the cooperative and (open-loop) Nash monetary policies, assuming that the...
Persistent link: https://www.econbiz.de/10003636288
We use the Factor-Augmented Vector Autoregression (FAVAR) approach of Bernanke, Boivin and Eliasz (2005) to estimate the effects of monetary policy shocks on wages and employment in the euro area. The use of a large data set comprising country, sectoral and euro area-wide data allows us to...
Persistent link: https://www.econbiz.de/10003486502
Persistent link: https://www.econbiz.de/10003951248
Persistent link: https://www.econbiz.de/10002742479
Persistent link: https://www.econbiz.de/10001702814