The impact of banking behaviour on monetary strategy in Europe
AbstractAt present, Western European banks are increasingly branching out into asset management as well as the consulting business, which cannot be influenced directly by monetary controls. We have therefore conducted a factor analysis of banks' balance-sheet items, and we have also plotted figures from banks' income statements. Our analyses fulfil a triple purpose. First, they shed much light on the positioning strategies deployed by European banks. Secondly, they reveal various tendencies in respect of the refinancing strategies that are adopted when credits are granted to non-banks. Thirdly, they facilitate an assessment of the effectiveness of monetary policy. There is clear evidence that the European Central Bank's money supply policy will prove progressively less efficient as banks resort increasingly to refinancing by assets and continue to expand their banking services by building up their consulting businesses. --
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Bibliographic InfoPaper provided by Center of Applied Economic Research Münster (CAWM), University of Münster in its series Beiträge zur angewandten Wirtschaftsforschung with number 13.
Date of creation: 2005
Date of revision:
Banking structure; Banking market; Banks' business strategies;
Find related papers by JEL classification:
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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- Agnes Belaisch & Joaquim Vieira Ferreira Levy & Laura E. Kodres & Angel J. Ubide, 2001. "Euro-Area Banking at the Crossroads," IMF Working Papers 01/28, International Monetary Fund.
- Bagliano, Fabio C. & Dalmazzo, Alberto & Marini, Giancarlo, 2000. "Bank competition and ECB's monetary policy," Journal of Banking & Finance, Elsevier, vol. 24(6), pages 967-983, June.
- Woojin Kim & Michael Weisbach, 2005. "Do Firms Go Public to Raise Capital?," NBER Working Papers 11197, National Bureau of Economic Research, Inc.
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