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The Role of Banks in the Transmission of Monetary Policy in the Baltics Author info | Abstract | Publisher info | Download info | Related research | Statistics Köhler, Matthias
Hommel, Judith
Grote, Matthias
The paper empirically investigates the monetary transmission mechanism in the Baltic States. The analysis of the transmission channels through which monetary policy shocks are transmitted is particularly important for the European Central Bank that makes monetary policy in an enlarged European Monetary Union. The paper focuses on the bank lending channel of monetary transmission due to the importance of banks in the financial system of the Baltic countries. The existence of this transmission channel is tested by using a panel structural approach that distinguishes banks according to size, capitalization, liquidity and ownership structure. The results indicate that a bank lending channel is present in the Baltic States and mainly caused by differences in liquidity. --
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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number
06-05.
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Date of creation: 2006Date of revision:
Handle: RePEc:zbw:zewdip:4584Contact details of provider: Postal: L 7,1; D - 68161 Mannheim Phone: +49/621/1235-01 Fax: +49/621/1235-224 Email: Web page: http://www.zew.de/ More information through EDIRC
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Keywords: Monetary Transmission ; Bank Lending Channel ; Transition Countries ; Other versions of this item:
Find related papers by JEL classification: E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Determination of Interest Rates; Term Structure of Interest Rates G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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