The Bank Lending Channel of Monetary Policy Transmission
Title | The Bank Lending Channel of Monetary Policy Transmission PDF eBook |
Author | Michael S. Gibson |
Publisher | |
Pages | 56 |
Release | 1997 |
Genre | Bank loans |
ISBN |
International Bank Lending Channel of Monetary Policy
Title | International Bank Lending Channel of Monetary Policy PDF eBook |
Author | Silvia Albrizio |
Publisher | International Monetary Fund |
Pages | 61 |
Release | 2019-11-01 |
Genre | Business & Economics |
ISBN | 1513519638 |
How does domestic monetary policy in systemic countries spillover to the rest of the world? This paper examines the transmission channel of domestic monetary policy in the cross-border context. We use exogenous shocks to monetary policy in systemically important economies, including the U.S., and local projections to estimate the dynamic effect of monetary policy shocks on bilateral cross-border bank lending. We find robust evidence that an increase in funding costs following an exogenous monetary tightening leads to a statistically and economically significant decline in cross-border bank lending. The effect is weakened during periods of high uncertainty. In contrast, the effect is found to not vary according to the degree of borrower country riskiness, further weakening support for the international portfolio rebalancing channel.
Does the Bank Lending Channel of Monetary Transmission Work in Turkey?
Title | Does the Bank Lending Channel of Monetary Transmission Work in Turkey? PDF eBook |
Author | Ms.Petya Koeva Brooks |
Publisher | International Monetary Fund |
Pages | 13 |
Release | 2007-12-01 |
Genre | Business & Economics |
ISBN | 1451868359 |
Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as an exogenous shock that prompted a significant tightening of monetary policy, this paper examines the loan supply response of Turkey's banks, depending on their balance sheet characteristics. The empirical results indicate that banks can play a role in Turkey's monetary transmission mechanism. Specifically, bank liquidity is found to have a significant effect on loan supply in Turkey. This suggests that the effect of monetary policy in Turkey can be propagated by the banking sector, depending on its liquidity position.
Does the Bank Lending Channel of Monetary Transmission Work in Turkey?
Title | Does the Bank Lending Channel of Monetary Transmission Work in Turkey? PDF eBook |
Author | Petya Koeva |
Publisher | |
Pages | 18 |
Release | 2007 |
Genre | Bank liquidity |
ISBN |
Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as an exogenous shock that prompted a significant tightening of monetary policy, this paper examines the loan supply response of Turkey's banks, depending on their balance sheet characteristics. The empirical results indicate that banks can play a role in Turkey's monetary transmission mechanism. Specifically, bank liquidity is found to have a significant effect on loan supply in Turkey. This suggests that the effect of monetary policy in Turkey can be propagated by the banking sector, depending on its liquidity position.
The Bank Lending Channel of Monetary Policy Transmission
Title | The Bank Lending Channel of Monetary Policy Transmission PDF eBook |
Author | Paisan Ruphanitkit |
Publisher | |
Pages | 426 |
Release | 1998 |
Genre | Banks and banking |
ISBN |
Monetary Policy Transmission in the Euro Area
Title | Monetary Policy Transmission in the Euro Area PDF eBook |
Author | Ignazio Angeloni |
Publisher | Cambridge University Press |
Pages | 515 |
Release | 2003-12-04 |
Genre | Business & Economics |
ISBN | 1139438816 |
This 2003 book offers the most systematic analysis available of the impact of European Central Bank monetary policy on the national economies of the Eurozone. Analysing macro and micro-economic evidence, with chapters by central bank economists, including a discussion chapter by eminent macroeconomists, it is an essential contribution to research on the subject.
Bank Leverage and Monetary Policy's Risk-Taking Channel
Title | Bank Leverage and Monetary Policy's Risk-Taking Channel PDF eBook |
Author | Mr.Giovanni Dell'Ariccia |
Publisher | International Monetary Fund |
Pages | 41 |
Release | 2013-06-06 |
Genre | Business & Economics |
ISBN | 1484381130 |
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.