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The terms and conditions on which bank loans are made to non-financial firms and households play a key role in the transmission of monetary policy. This paper analyses the relationship between German bank lending rates and both money market and capital market rates in the 1990s. This study...
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This paper investigates the credit channel in Germany and the United Kingdom. The financial systems of these two … competition among credit intermediaries, resulting in a declining dependence on banks in Germany. …
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