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whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the …
Persistent link: https://www.econbiz.de/10011398432
Monetary policy transmission may be impaired if banks rebalance their portfolios towards securities. We identify the bank lending and risk-taking channels of monetary policy by exploiting – Italian's unique – credit and security registers. In crisis times, with higher ECB liquidity, less...
Persistent link: https://www.econbiz.de/10012854350
in Germany and Italy, which are characterized by a large number of banks; but it is very weak in Spain and more … savings banks with smaller size in Italy. Third, heterogeneity across groups of banks belonging to the same category in any …
Persistent link: https://www.econbiz.de/10013078975
Persistent link: https://www.econbiz.de/10010189361
whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the …
Persistent link: https://www.econbiz.de/10013320959
Monetary policy has implicit redistribution effects for households when households are different. This changes the aggregate consumption response to interest rate changes. This paper is the first to estimate the magnitude of redistributionary channels of monetary policy in the euro area. When...
Persistent link: https://www.econbiz.de/10014545241
, Denmark, and Italy based on the cointegrated VAR model. It provides empirical results on the macroeconomic effects of joining …
Persistent link: https://www.econbiz.de/10014215606
This paper provides updated empirical evidence about the real and nominal effects of monetary policy in Italy, by using … exogenous shocks. We argue that the data support the view that the Bank of Italy, at least in the recent past, has been …
Persistent link: https://www.econbiz.de/10014159121
Italy is an ideal candidate for testing the credit view of the transmission mechanism because of a bank …
Persistent link: https://www.econbiz.de/10014070899
simultaneously estimated for France, Germany, and Italy. Extensive cross equation tests show that relatively large differences in … major EMU countries. However, monetary policy impulses show a relatively stronger effect on the output gap in Italy and …
Persistent link: https://www.econbiz.de/10014119287