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Monetary policy, bank size and bank lending: Evidence from Australia

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  • Liu, Luke
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Abstract

The transmission of monetary policy may hold the key to explaining the effects of policy on the economy. The objective of the study is to assess the importance of the bank lending channel in the transmission of monetary policy in Australia. In this paper, we found that the effectiveness of monetary policy varies with the size of the bank as well as the type of the loan. For different asset size and different kinds of loans, the effect of monetary policy is different. Thus, policy has distributional effects on bank loans that depend on asset size and industry in the economy.

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File URL: http://mpra.ub.uni-muenchen.de/35033/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 35033.

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Date of creation: 26 Jun 2011
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Handle: RePEc:pra:mprapa:35033

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Keywords: Monetary policy; Bank lending; Bank size;

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  1. Altunbas, Yener & Fazylov, Otabek & Molyneux, Philip, 2002. "Evidence on the bank lending channel in Europe," Journal of Banking & Finance, Elsevier, Elsevier, vol. 26(11), pages 2093-2110, November.
  2. Ben Bernanke, 1990. "The Federal Funds Rate and the Channels of Monetary Transnission," NBER Working Papers 3487, National Bureau of Economic Research, Inc.
  3. Jui-Chuan (Della) Chang & Dennis W. Jansen, 2005. "The Effect of Monetary Policy on Bank Lending and Aggregate Output: Asymmetries from Nonlinearities in the Lending Channel," Annals of Economics and Finance, Society for AEF, vol. 6(1), pages 129-153, May.
  4. Kashyap, Anil K & Stein, Jeremy C & Wilcox, David W, 1993. "Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance," American Economic Review, American Economic Association, American Economic Association, vol. 83(1), pages 78-98, March.
  5. Kuan-Min Wang, 2010. "Expected and Unexpected Impulses of Monetary Policy on the Interest Pass-Through Mechanism in Asian Countries," Annals of Economics and Finance, Society for AEF, vol. 11(1), pages 95-137, May.
  6. Amemiya, Takeshi & MaCurdy, Thomas E, 1986. "Instrumental-Variable Estimation of an Error-Components Model," Econometrica, Econometric Society, Econometric Society, vol. 54(4), pages 869-80, July.
  7. Jan Kakes & Jan-Egbert Sturm, 2001. "Monetary policy and bank lending. Evidence from German banking groups," MEB Series (discontinued), Netherlands Central Bank, Monetary and Economic Policy Department 2001-1, Netherlands Central Bank, Monetary and Economic Policy Department.
  8. Adam B. Ashcraft, 2001. "New evidence on the lending channel," Staff Reports, Federal Reserve Bank of New York 136, Federal Reserve Bank of New York.
  9. 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.
  10. Carlyn Ramlogan, 2004. "The transmission mechanism of monetary policy: Evidence from the Caribbean," Journal of Economic Studies, Emerald Group Publishing, Emerald Group Publishing, vol. 31(5), pages 435-447, October.
  11. Tomoya Suzuki, 2004. "Is the Lending Channel of Monetary Policy Dominant in Australia?," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 80(249), pages 145-156, 06.
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