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The euro and international capital markets

Detken, Carsten; Hartmann, Philipp - 2000

This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both from the viewpoint of international financing as well as from...

Persistent link: https://www.econbiz.de/10011604065

Asymmetries in bank lending behaviour. Austria during the 1990s

Kaufmann, Sylvia - 2001

This paper investigates both cross-sectional asymmetry (related to bank-specific characteristics like size and liquidity) and asymmetries over time (potentially related to the overall state of the economy) in Austrian bank lending reaction to monetary policy. The first type of asymmetry is...

Persistent link: https://www.econbiz.de/10011604143

The credit channel in the Netherlands: evidence from bank balance sheets

de Haan, Leo - 2001

This study contributes to the empirical evidence on the lending channel in the Netherlands using individual bank data. The main conclusion is that a lending channel is operative in the Netherlands. However, it is only operative for unsecured and not for secured lending, possibly because loans...

Persistent link: https://www.econbiz.de/10011604144

Is there a bank lending channel of monetary policy in Spain?

Hernando, Ignacio; Martinéz Pagés, Jorge - 2001

This paper uses panel data on banks, for the period 1991-98, to test the existence of a bank-lending channel in the Spanish economy. In order to distinguish between loan demand and supply movements, several exercises are performed. First, we analyse the differential responses, to monetary policy...

Persistent link: https://www.econbiz.de/10011604145

Is there a bank lending channel of monetary policy in Greece? Evidence from bank level data

Brissimis, Sophocles N.; Kamberoglou, Nicos C.; … - 2001

This paper analyses empirically the role of bank lending in monetary policy transmission on the basis of Greek bank level data. Two approaches have been taken. One employing a reduced form equation linking monetary policy and distributional variables to bank loans in the spirit of Kashyap and...

Persistent link: https://www.econbiz.de/10011604150

Financial systems and the role of banks in monetary policy transmission in the euro area

Ehrmann, Michael; Gambacorta, Leonardo; Martinéz … - 2001

This paper offers a comprehensive comparison of the structure of banking and financial markets in the euro area. Based on this, several hypotheses about the role of banks in monetary policy transmission are developed. Many of the predictions that have been proposed for the U.S. are deemed...

Persistent link: https://www.econbiz.de/10011604151

Monetary Transmission in the Euro Area : Where Do We Stand?

Mojon, Benoît; Kashyap, Anil K.; Angeloni, Ignazio; … - 2002

Drawing on recent Eurosystem research that uses a range of econometric techniques and a number of new data sets, we propose a comprehensive description of how monetary policy affects the euro area economy. We focus mainly on three questions: (1) what are the stylised facts concerning the...

Persistent link: https://www.econbiz.de/10011604160

The effectiveness of the non-standard policy measures during the financial crises: the experiences of the federal reserve and the European Central Bank

Carpenter, Seth; Demiralp, Selva; Eisenschmidt, Jens - 2013

A growing number of studies have sought to measure the effects of non-standard policy on bank funding markets. The purpose of this paper is to carry those estimates a step further by looking at the effects of bank funding market stress on the volume of bank lending, using a simultaneous equation...

Persistent link: https://www.econbiz.de/10011605607

Lending conditions in EU: The role of credit demand and supply

Kapounek, Svatopluk; Kučerová, Zuzana; Fidrmuc, Jarko - 2017

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/10011641099

The recent slowdown in bank lending in Spain: Are supply-side factors relevant?

Hernando, Ignacio; Villanueva, Ernesto - In: SERIEs - Journal of the Spanish Economic Association 5 (2014) 2/3, pp. 245-285

Using information from the balance sheets of Spanish banks between 1995 and 2009 matched to credit information at the … lending to firms. We isolate the role of credit supply factors using the variation in capital growth associated with the bank … literature. The relatively small magnitude of credit supply factors may be explained by the weakness of loan demand in a context …

Persistent link: https://www.econbiz.de/10011650288