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Monetary Policy, Labor Income Redistribution and the Credit Channel : Evidence from Matched Employer-Employee and Credit Registers
Jasova, Martina; Mendicino, Caterina; Panetti, Ettore; … - 2021
We document the redistributive effects of monetary policy on labor market outcomes via the credit channel. For … identification, we exploit matched administrative datasets in Portugal — employee-employer and credit registers — and monetary policy … do not find any redistributive effects for firms without bank credit …
Persistent link: https://www.econbiz.de/10013212001
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The Bond Lending Channel of Monetary Policy
Darmouni, Olivier - 2020
Corporate bond markets are a growing source of funding for companies throughout the world. How does a firm's debt structure affect the transmission of monetary policy? This paper sheds light on a new corporate finance mechanism in which monetary policy disproportionately impacts bond-financed...
Persistent link: https://www.econbiz.de/10012848624
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Financial systems and the role of banks in monetary policy transmission in the euro area
Ehrmann, Michael (contributor) - 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/10001643064
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The determinants of pass-through of market conditions to bank retail interest rates in Belgium
De Graeve, Ferre; De Jonghe, Olivier; Vander Vennet, Rudi - 2004
Persistent link: https://www.econbiz.de/10002093396
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Monetary policy effects on bank loans in Germany : a panel-econometric analysis
Worms, Andreas - 2001
A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to … small banks are excluded. Overall, the evidence is compatible with the existence of a credit channel, although it is …
Persistent link: https://www.econbiz.de/10001641256
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The determinants of pass-through of market conditions to bank retail interest rates in Belgium
De Graeve, Ferre; De Jonghe, Olivier; Vander Vennet, Rudi - 2004
We analyse the pass-through of money market rates to retail interest rates at the disaggregate level in the Belgian banking market. First, we measure the extent of pass-through for a total of fourteen products. We find that the response varies over loans and deposits and depends positively on...
Persistent link: https://www.econbiz.de/10011626254
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Monetary policy effects on bank loans in Germany : a panel-econometric analysis
Worms, Andreas - 2001
A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to … small banks are excluded. Overall, the evidence is compatible with the existence of a credit channel, although it is …
Persistent link: https://www.econbiz.de/10011419446
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Shocks to bank lending, risk-taking, securitization, and their role for US business cycle fluctuations
Peersman, Gert; Wagner, Wolf - 2014
Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary policy innovations account for more than 30 percent of U.S. output variation. The dynamic effects, however, depend on the type of shock. Expansionary securitization shocks lead to a...
Persistent link: https://www.econbiz.de/10010257361
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The euro area Bank Lending Survey matters : empirical evidence for credit and output growth
Bondt, Gabe J. de; Maddaloni, Angela; Peydró, José-Luis - 2010
This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and … leading indicator for euro area bank credit and real GDP growth. Notwithstanding the short history of the survey, the findings … also suggest that price as well as non-price conditions and terms of credit standards do matter for credit and business …
Persistent link: https://www.econbiz.de/10003971193
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The bank lending channel and lunar phases : Evidence from a panel of European banks
Apergēs, Nikolaos; Gabrielsen, Alexander - In: Journal of finance and investment analysis 1 (2012) 3, pp. 1-19
While many studies have demonstrated the impact of weather conditions along with lunar phases on stock markets, this paper explores the impact of lunar phases on the bank lending channel for a sample of European banks, using the GMM estimator methodology, suggested in Arellano and Bond (1991),...
Persistent link: https://www.econbiz.de/10009671273