This paper examines how banks respond to the monetary policy of the European Central Bank (ECB) according to their … characteristics and, in particular, to their market power, using banking micro-data from Eurozone countries over the period from 1999 … have a similar effect. Therefore, increased competition enhances the effectiveness of monetary policy transmission through …

hampered the smooth transmission of accommodative monetary policy. Using bank level data from 2007 to 2015, we directly measure … bank in the same month for loans to small and large firms (the "Small Firm Financing Premium", SFFP). We assess the role … played by both bank and macroeconomic factors in explaining the variation in the SFFP across countries and through time. We …