The Effect of Financial Depth on Monetary Transmission
Several papers have looked at the relationship between country-specific factors and the strength of monetary transmission. For example, Cecchetti (1999) concentrated on legal aspects, while De Grauwe and Storti (2004) focused more on the financial structure of the economy. The objective of this paper is to measure how financial development variables influence the strength of monetary transmission in the European countries. This paper employs a meta-analysis technique that has gained much popularity in recent years. According to the results, monetary transmission in Europe is strongly influenced by financial depth and structure.
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Volume (Year): V (2007)
Issue (Month): 2 (May)
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- Michael Ehrmann, 2000. "Comparing monetary policy transmission across European countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 136(1), pages 58-83, March.
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- Mojon, Benoît & Kashyap, Anil K. & Angeloni, Ignazio & Terlizzese, Daniele, 2002. "Monetary Transmission in the Euro Area : Where Do We Stand?," Working Paper Series 0114, European Central Bank.
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- Lenno Uusküla & Peeter Luikmel & Jana Kask, 2005. "Critical Levels of Debt?," Bank of Estonia Working Papers 2005-3, Bank of Estonia, revised 10 Oct 2005.
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- Elbourne, Adam & de Haan, Jakob, 2006. "Financial structure and monetary policy transmission in transition countries," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 1-23, March. Full references (including those not matched with items on IDEAS)
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