The bank lending channel and monetary policy rules for Eurozone banks: further extensions
Journal article
Authors | Apergis, Nicholas, Miller, Stephen and Alevizopoulou, Effrosyni |
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Abstract | The monetary authorities affect macroeconomic activity through various channels of influence. This paper examines the bank lending channel, which considers how central bank actions affect the loan supply through its main indicator of policy, the real short-term interest rate. This paper employs the endogenously determined target interest rate, emanating from the European Central Bank’s monetary policy rule, to examine the operation of the bank lending channel. Furthermore, it examines whether different bank-specific characteristics affect how Eurozone banks react to monetary shocks. That is, do sounder banks react more to the monetary policy rule than less-sound banks? The paper finds evidence of an active and statistically and economically significant bank lending channel for the Eurozone between 2000 and 2009. |
Keywords | Bank lending channel; Monetary policy rules; GMM methodology; Eurozone banks |
Year | 2014 |
Journal | The B.E. Journal of Macroeconomics |
Publisher | De Gruyter |
Web address (URL) | http://hdl.handle.net/10545/623413 |
http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
hdl:10545/623413 | |
Publication dates | 12 Jun 2014 |
Publication process dates | |
Deposited | 28 Jan 2019, 18:31 |
Contributors | Curtin University, University of Nevada Las Vegas and University of Piraeus |
File | File Access Level Open |
File | File Access Level Open |
https://repository.derby.ac.uk/item/930vw/the-bank-lending-channel-and-monetary-policy-rules-for-eurozone-banks-further-extensions
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