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Bank lending channel effectiveness : potential lessons for monetary policy
Świtała, Filip; Kowalska, Iwona; Malajkat, Karolina - In: Journal of banking and financial economics 19 (2023) 1, pp. 160-117
The article supplements the research on the effectiveness of monetary policy transmission - especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan...
Persistent link: https://www.econbiz.de/10014515074
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Unconventional monetary policy effects on bank lending in the euro area
Behrendt, Stefan - 2017
This paper employs a structural VAR framework with sign restrictions to estimate the effects of unconventional monetary policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending. Using a variable for newly issued credit instead of...
Persistent link: https://www.econbiz.de/10011602464
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Monetary and macroprudential policies in an estimated model with financial intermediation
Gelain, Paolo; Ilbas, Pelin - 2014
financial stability. For this purpose, monetary policy is described by a flexible inflation targeting regime using the interest …
Persistent link: https://www.econbiz.de/10011506778
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Monetary Policy and Bank Lending in Developing Countries : Loan Applications, Rates, and Real Effects
Abuka, Charles Augustine - 2019
leverage and sovereign debt exposure. There are associated spillovers on inflation and economic activity …
Persistent link: https://www.econbiz.de/10012901740
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Nonlinear Credit Dynamics, Regime Switches in the Output Gap and Supervisory Shocks
Lucidi, Francesco Simone - 2019
Over the last two decades the intensity of credit standards' tightening during economic contractions has exceeded their easing during expansions among euro area banks. This mechanism is fed by the boom-bust cycle of credit that, as much research has shown, is linked to financial instability with...
Persistent link: https://www.econbiz.de/10012865060
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Monetary and Macroprudential Policies in an Estimated Model with Financial Intermediation
Gelain, Paolo - 2014
financial stability. For this purpose, monetary policy is described by a flexible inflation targeting regime using the interest …
Persistent link: https://www.econbiz.de/10013054256
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Monetary and macroprudential policies in an estimated model with financial intermediation
Gelain, Paolo; Ilbas, Pelin - 2014
financial stability. For this purpose, monetary policy is described by a flexible inflation targeting regime using the interest …
Persistent link: https://www.econbiz.de/10011589082
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Does low inflation pose a risk to economic growth and central banks reputation?
Dąbrowski, Marek - 2020
Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …
Persistent link: https://www.econbiz.de/10012230450
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Does money matter in Africa? : new empirics on long- and short-run effects of monetary policy on output and prices
Asongu, Simplice A. - 2013
financial dynamics in inflation-chaotic African countries for the period 1987-2010. Design/methodology/approach - VARs within … significantly adjust inflation to the cointegration relations. With respect to the second-half (short-run view) of the hypothesis … business cycles, credit expansions and inflationary tendencies, inflation targeting and monetary policy independence …
Persistent link: https://www.econbiz.de/10011410030
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Mind the output gap : the disconnect of growth and inflation during recessions and convex Phillips curves in the euro area
Groß, Marco; Semmler, Willi - Task Force on Low Inflation (LIFT) - 2017
We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … pronounced convex relationship between inflation and the output gap, meaning that the coefficient in the Phillips curve on the …
Persistent link: https://www.econbiz.de/10011636803