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Sovereign stress, banking stress, and the monetary transmission mechanism in the Euro area
Holtemöller, Oliver; Scherer, Jan-Christopher - 2018
banking stress, firms’ financing conditions, government bond yields, interest rate channel, monetary policy … transmission, sovereign stress …In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in …
Persistent link: https://www.econbiz.de/10011787375
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Monetary policy under the microscope : intra-bank transmission of asset purchase programs of the ECB
Cycon, Lisa; Koetter, Michael - 2015
loan rate components, we exploit the co-existence of eurozone-wide security purchase programs and regional fiscal policies … targeted for sovereign debt stress relief, but not loan rates themselves. However, asset purchases mitigated those loan price …
Persistent link: https://www.econbiz.de/10011317902
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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Sovereign Stress, Banking Stress, and the Monetary Transmission Mechanism in the Euro Area
Holtemöller, Oliver - 2018
We investigate to what extent sovereign stress and banking stress have contributed to the increase in the level and in …, we are able to identify the effect of government bond yield spreads (sovereign stress) and the share of non …-performing loans (banking stress) on firms' financing costs in a panel model by assuming that idiosyncratic shocks to individual firms …
Persistent link: https://www.econbiz.de/10012916507
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Sovereign stress, banking stress, and the monetary transmission mechanism in the Euro area
Holtemöller, Oliver; Scherer, Jan-Christopher - 2022 - This version: May 2022
In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in … yield spreads (sovereign stress) and the share of non-performing loans (banking stress) on firms’ financing costs using an … instrumental-variable approach. Moreover, we estimate both sources of stress to have significantly impaired the monetary …
Persistent link: https://www.econbiz.de/10013473968
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Sovereign stress, banking stress, and the monetary transmission mechanism in the Euro area
Holtemöller, Oliver; Scherer, Jan-Christopher - 2018
In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in … million observations we are able to identify the effect of government bond yield spreads (sovereign stress) and the share of … non-performing loans (banking stress) on firms' financing costs in a panel model by assuming that idiosyncratic shocks to …
Persistent link: https://www.econbiz.de/10011944195
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Sovereign stress, banking stress, and the monetary transmission mechanism in the Euro area
Holtemöller, Oliver; Scherer, Jan-Christopher - 2022
In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in … yield spreads (sovereign stress) and the share of non-performing loans (banking stress) on firms' financing costs using an … instrumental-variable approach. Moreover, we estimate both sources of stress to have significantly impaired the monetary …
Persistent link: https://www.econbiz.de/10013201875
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Interest rate pass-through in Germany and the euro area
Borstel, Julia von - 2008
This paper analyzes the interest rate pass-through for Germany and the euro area using for the first time a fully harmonized data set on bank retail rates. In a vector error correction model, the speed and completeness of the pass-through from market rates to bank interest rates are estimated...
Persistent link: https://www.econbiz.de/10010206376
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How banks respond to negative interest rates : evidence from the Swiss exemption threshold
Basten, Christoph; Mariathasan, Mike - 2018
We analyze the effect of negative monetary policy rates on banks, using detailed supervisory information from Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank reserves exempt from negative rates. More affected banks...
Persistent link: https://www.econbiz.de/10011795014
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The new normal: bank lending and negative interest rates in Austria
Barmeier, Marcel - 2022
Evidence on the effects of negative interest rates on bank lending is inconclusive so far. By applying a difference-in-difference estimation using granular loan level data with a large coverage from Austria, I show, contrary to some previous findings, that the introduction of a negative deposit...
Persistent link: https://www.econbiz.de/10013332415