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Foreign Banks and the Bank Lending Channel

Denderski, Piotr - 2018

We provide new evidence on the effects of monetary policy on loans using bank-level data on 429 banks in CEE economies between 1998 and 2012. Only domestic banks adjust their loans to changes in monetary policy. This is driven by the supply side as deposits in foreign banks do not react to...

Persistent link: https://www.econbiz.de/10012924423

Can Countries Manage Their Financial Conditions Amid Globalization?

Arregui, Nicolas - 2018

This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, 'global...

Persistent link: https://www.econbiz.de/10012927458

Nonbank lenders as global shock absorbers : evidence from US monetary policy spillovers

Elliott, David; Meisenzahl, Ralf; Peydró, José-Luis - 2023

effects, as firms with existing relationships with nonbank lenders increase total debt, investment, and employment relative to …

Persistent link: https://www.econbiz.de/10014355993

U.S. Monetary Policy Shock Spillovers : Evidence from Firm-Level Data

Arbatli, Elif C.; Firat, Melih; Furceri, Davide; … - 2022

We examine three main channels through which U.S. monetary policy shocks affect firm investment in foreign countries … shocks have larger effects on investment for firms that are more leveraged (balance sheet channel), for firms that have a … most important channel of transmission of U.S. monetary policy shocks on aggregate firm investment …

Persistent link: https://www.econbiz.de/10014239400

How monetary policy affects industrial activity in Malawi : evidence from ARDL and VAR models

Matola, Joseph Upile - In: Cogent economics & finance 11 (2023) 1, pp. 1-21

In this paper, the impact of monetary policy on industrial production is investigated for Malawi. Using the ARDL bounds testing approach, and VAR models, it is shown that tight monetary conditions negatively affect industrial production both in the short run and in the long run. This is the case...

Persistent link: https://www.econbiz.de/10014500750

Spillovers and spillbacks

Acharya, Sushant; Pesenti, Paolo A. - 2024

We study international monetary policy spillovers and spillbacks in a tractable two-country Heterogeneous Agent New Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as households in both countries face uninsurable income...

Persistent link: https://www.econbiz.de/10014501129

Interest Rate Pass-Through and the Efficiency of Monetary Policy in Nigeria : 2002-2010

Sanusi, Aliyu Rafindadi - 2011

This paper estimates magnitude and speed of the interest rate pass-through for Nigeria using a monthly data for the period 2002:M1-2010:M04. It uses the Impulse Response Functions from a Structural Vector Auto-Regression (SVAR) model of the interest rate transmission to derive the dynamic...

Persistent link: https://www.econbiz.de/10013128207

Monetary transmission in the new economy : service life of capital, transmission channels and the speed of adjustment

Kalckreuth, Ulf von; Schröder, Jürgen - 2002

closely the money market rate. We make the investment decision explicitly dependent on a long-term rate for a credit contract …

Persistent link: https://www.econbiz.de/10001684383

Financial stress, monetary policy, and economic activity

Li, Fuchun; St-Amant, Pierre - 2010

This paper examines empirically the impact of financial stress on the transmission of monetary policy shocks in Canada. The model used is a threshold vector autoregression in which a regime change occurs if financial stress conditions cross a critical threshold. Using the financial stress index...

Persistent link: https://www.econbiz.de/10003981316

Time-varying business volatility, price setting, and the real effects of monetary policy

Bachmann, Ruediger; Born, Benjamin; Elstner, Steffen; … - 2013

Does time-varying business volatility affect the price setting of firms and thus the transmission of monetary policy into the real economy? To address this question, we estimate from the firm-level micro data of the German IFO Business Climate Survey the impact of idiosyncratic volatility on the...

Persistent link: https://www.econbiz.de/10009767295