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We examine the transmission of monetary policy shocks to the long-duration liabilities of households and firms using high-frequency variation in 10-year swap rates around FOMC announcements. We find that four weeks after the announcement mortgage rates move one-for-one with 10-year swap rates,...
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This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse … loan portfolio relatively unaffected. This may explain why the evidence for a bank lending channel in Germany seems to be …Dieses Papier präsentiert empirische Evidenz zum Verhalten der Interbankkredite in Deutschland nach einem …
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This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking …
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