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Persistent link: https://www.econbiz.de/10009741907
that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …
Persistent link: https://www.econbiz.de/10011493763
We examine the effect of quantitative easing on the supply of bank loans. During the 2008 quantitative easing, lending banks reduce relatively more loan spreads, offer longer loan maturities, provide larger loans, and loosen covenants for firms whose long-term bond ratings are lower than BBB....
Persistent link: https://www.econbiz.de/10013238857
Persistent link: https://www.econbiz.de/10012318373
The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...
Persistent link: https://www.econbiz.de/10012663107
last decade's credit and housing boom and bust cycles. We collect detailed information on these policy measures in a … funding, marginal reserve requirements linked to credit growth) …
Persistent link: https://www.econbiz.de/10013089784
As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks’ balance sheets can have very sizeable implications for the transmission of monetary policy. This paper provides an overview of developments in banks’ balance sheets,...
Persistent link: https://www.econbiz.de/10012009071
In this paper, we empirically analyze the transmission of realized interest rate risk - the gain or loss in bank economic capital due to movements in interest rates - to bank lending. We exploit a unique panel data set that contains supervisory information on the repricing maturity profiles of...
Persistent link: https://www.econbiz.de/10011396762
provides natural instrumental variables and a proxy for credit demand. Unlike previous papers, this paper studies the effects …
Persistent link: https://www.econbiz.de/10012887834
We analyse the bank lending activity after the financial crisis and focus on bank-specific supply factors. Using a rich microeconomic dataset from Bankscope and macroeconomic shocks data, we employ OLS and 2SLS fixed effects models with banking controls, macroeconomic shocks and institutional...
Persistent link: https://www.econbiz.de/10011598900