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Credit channels in Europe: a cross-country investigation

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  • G.J. DE BONDT

    (De Nederlandsche Bank)

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    Abstract

    The work provides an economic analysis of the monetary transmission mechanism in Europe. The author reviews the literature on the money and credit view before describing cross-country differences in credit channel indicators and examining the existence of credit channels by distinguishing between households and firms. The relative importance of a bank lending and balance sheet channel is discussed by assessing impulse response functions from a vector error correction model.

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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10926/10805
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    Bibliographic Info

    Article provided by Banca Nazionale del Lavoro in its journal BNL Quarterly Review.

    Volume (Year): 52 (1999)
    Issue (Month): 210 ()
    Pages: 295-326

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    Handle: RePEc:psl:bnlaqr:1999:34

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    Related research

    Keywords: Economic research; credit channels; monetary transmission mechanism;

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    References

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    Cited by:
    1. Johann Burgstaller & Johann Scharler, 2009. "How Do Bank Lending Rates and the Supply of Loans React to Shifts in Loan Demand in the U.K.?," Economics working papers 2009-02, Department of Economics, Johannes Kepler University Linz, Austria.
    2. Goddard, John & Molyneux, Philip & Wilson, John O.S. & Tavakoli, Manouche, 2007. "European banking: An overview," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 1911-1935, July.
    3. Matousek, Roman & Sarantis, Nicholas, 2009. "The bank lending channel and monetary transmission in Central and Eastern European countries," Journal of Comparative Economics, Elsevier, vol. 37(2), pages 321-334, June.
    4. Akinci, Dervis Ahmet & Matousek, Roman & Radić, Nemanja & Stewart, Chris, 2013. "Monetary policy and the banking sector in Turkey," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 27(C), pages 269-285.
    5. Hanna Putkuri, 2004. "Cross-country asymmetries in euro area monetary transmission: the role of national financial systems," Macroeconomics, EconWPA 0404037, EconWPA.
    6. L. de Haan, 2001. "The Credit Channel in the Netherlands: Evidence from Bank Balance Sheets," WO Research Memoranda (discontinued) 674, Netherlands Central Bank, Research Department.
    7. Oliver Hülsewig & Peter Winker & Andreas Worms, 2004. "Bank Lending and Monetary Policy Transmission: A VECM Analysis for Germany," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 224(5), pages 511-529, September.
    8. Altunbas, Yener & Fazylov, Otabek & Molyneux, Philip, 2002. "Evidence on the bank lending channel in Europe," Journal of Banking & Finance, Elsevier, vol. 26(11), pages 2093-2110, November.

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