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The balance sheet channel of monetary policy: first empirical evidence for the euro area corporate bond market

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  • Gabe de Bondt

    (European Central Bank, Frankfurt am Main, Germany)

Abstract

The balance sheet channel of monetary policy working through the euro area corporate bond market is important, as shown by empirical results based on different methods for the first two and a half years since the introduction of the euro. The external finance premium on corporate bonds reflects, among other factors, monetary policy and leads real economic activity in the euro area. Copyright © 2004 John Wiley & Sons, Ltd.

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  • Gabe de Bondt, 2004. "The balance sheet channel of monetary policy: first empirical evidence for the euro area corporate bond market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 9(3), pages 219-228.
    • Handle: RePEc:ijf:ijfiec:v:9:y:2004:i:3:p:219-228
    DOI: 10.1002/ijfe.246
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