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After the global financial crisis and during the European sovereign debt crisis, bank lending to companies in the euro area slowed down dramatically, bringing the economy close to a credit crunch. It was only after the start of the European Central Bank (ECB) quantitative easing programme in...
Persistent link: https://www.econbiz.de/10011970956
We study how differences in the aggregate structure of corporate debt financing affect the transmission of monetary policy. Using high-frequency financial market data to identify monetary policy shocks in a panel of euro area countries, we find that: bond finance dampens the overall response of...
Persistent link: https://www.econbiz.de/10012212853
After the global financial crisis and during the European sovereign debt crisis, bank lending to companies in the euro area slowed down dramatically bringing the economy close to a credit crunch. It was only after the start of the ECB’s quantitative easing programme in early 2015 that bank...
Persistent link: https://www.econbiz.de/10011977350
Persistent link: https://www.econbiz.de/10010511974
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in Mexico, matched with firm and bank balance-sheet data, and by exploiting foreign monetary policy shocks, given the … large presence of European and U.S. banks in Mexico. The paper finds that a softening of foreign monetary policy increases … banks (for example, U.K. monetary policy affects credit supply in Mexico via U.K. banks), in turn implying strong real …
Persistent link: https://www.econbiz.de/10012971990
Persistent link: https://www.econbiz.de/10012484480
in Mexico, matched with firm and bank balance-sheet data, and by exploiting foreign monetary policy shocks, given the … large presence of European and U.S. banks in Mexico. The paper finds that a softening of foreign monetary policy increases … banks (for example, U.K. monetary policy affects credit supply in Mexico via U.K. banks), in turn implying strong real …
Persistent link: https://www.econbiz.de/10012246313