Relationship lending and monetary policy pass-through
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Gauti B Eggertsson & Ragnar E Juelsrud & Lawrence H Summers & Ella Getz, 2024.
"Negative Nominal Interest Rates and the Bank Lending Channel,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(4), pages 2201-2275.
- Gauti B. Eggertsson & Ragnar E. Juelsrud & Lawrence H. Summers & Ella Getz Wold, 2019. "Negative Nominal Interest Rates and the Bank Lending Channel," NBER Working Papers 25416, National Bureau of Economic Research, Inc.
- Gauti B. Eggertsson & Ragnar E. Juelsrud & Lawrence H. Summers & Ella Getz Wold, 2019. "Negative nominal interest rates and the bank lending channel," Working Paper 2019/4, Norges Bank.
- Mauricio Ulate, 2021.
"Going Negative at the Zero Lower Bound: The Effects of Negative Nominal Interest Rates,"
American Economic Review, American Economic Association, vol. 111(1), pages 1-40, January.
- Mauricio Ulate, 2019. "Going Negative at the Zero Lower Bound: The Effects of Negative Nominal Interest Rates," Working Paper Series 2019-21, Federal Reserve Bank of San Francisco.
- Sharpe, Steven A, 1990.
"Asymmetric Information, Bank Lending, and Implicit Contracts: A Stylized Model of Customer Relationships,"
Journal of Finance, American Finance Association, vol. 45(4), pages 1069-1087, September.
- Steven A. Sharpe, 1989. "Asymmetric information, bank lending, and implicit contracts: a stylized model of customer relationships," Finance and Economics Discussion Series 70, Board of Governors of the Federal Reserve System (U.S.).
- Daniel Greenwald, 2019. "Firm Debt Covenants and the Macroeconomy: The Interest Coverage Channel," 2019 Meeting Papers 520, Society for Economic Dynamics.
- Altavilla, Carlo & Burlon, Lorenzo & Giannetti, Mariassunta & Holton, Sarah, 2022.
"Is there a zero lower bound? The effects of negative policy rates on banks and firms,"
Journal of Financial Economics, Elsevier, vol. 144(3), pages 885-907.
- Altavilla, Carlo & Burlon, Lorenzo & Giannetti, Mariassunta & Holton, Sarah, 2019. "Is there a zero lower bound? The effects of negative policy rates on banks and firms," Working Paper Series 2289, European Central Bank.
- Giannetti, Mariassunta & Altavilla, Carlo & Burlon, Lorenzo & Holton, Sarah, 2019. "Is There a Zero Lower Bound? The Effects of Negative Policy Rates on Banks and Firms," CEPR Discussion Papers 14050, C.E.P.R. Discussion Papers.
- Jin Cao & Torje Hegna & Martin B. Holm & Ragnar Juelsrud & Tobias König & Mikkel Riiser, 2023. "The Investment Channel of Monetary Policy : Evidence from Norway," Working Paper 2023/5, Norges Bank.
- Carola Schenone, 2010. "Lending Relationships and Information Rents: Do Banks Exploit Their Information Advantages?," The Review of Financial Studies, Society for Financial Studies, vol. 23(3), pages 1149-1199, March.
- von Thadden, Ernst-Ludwig, 2004.
"Asymmetric information, bank lending and implicit contracts: the winner's curse,"
Finance Research Letters, Elsevier, vol. 1(1), pages 11-23, March.
- Ernst-Ludwig VON THADDEN, 1998. "Asymmetric Information, Bank Lending and Implicit Contracts : The Winner's Curse," Cahiers de Recherches Economiques du Département d'économie 9809, Université de Lausanne, Faculté des HEC, Département d’économie.
- Beck, Thorsten & Degryse, Hans & De Haas, Ralph & van Horen, Neeltje, 2018.
"When arm's length is too far: Relationship banking over the credit cycle,"
Journal of Financial Economics, Elsevier, vol. 127(1), pages 174-196.
- Beck, Thorsten & Degryse, Hans & Haas, Ralph & Horen, Neeltje, 2015. "When arm's length Is too far. Relationship banking over the credit cycle," LSE Research Online Documents on Economics 62005, London School of Economics and Political Science, LSE Library.
- Dell'Ariccia, Giovanni & Marquez, Robert, 2004. "Information and bank credit allocation," Journal of Financial Economics, Elsevier, vol. 72(1), pages 185-214, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Christa Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert van der Klaauw & Jialan Wang, 2025.
"Consumer Credit Reporting Data,"
Journal of Economic Literature, American Economic Association, vol. 63(2), pages 598-636, June.
- Christa N. Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert Van der Klaauw & Jialan Wang, 2024. "Consumer Credit Reporting Data," Staff Reports 1114, Federal Reserve Bank of New York.
- Christa N. Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott T. Nelson & Wilbert H. van der Klaauw & Jialan Wang, 2024. "Consumer Credit Reporting Data," NBER Working Papers 32791, National Bureau of Economic Research, Inc.
- Karolis Liaudinskas & Kristina Grigaitė, 2021. "Estimating firms’ bank-switching costs," Working Paper 2021/4, Norges Bank.
- Nemoto, Tadanobu & Ogura, Yoshiaki & Watanabe, Wako, 2016. "Inside bank premiums as liquidity insurance," Journal of the Japanese and International Economies, Elsevier, vol. 42(C), pages 61-76.
- J.-P. Niinimäki, 2022. "Relationship Lending and Switching Costs under Asymmetric Information about Bank Types," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(1), pages 111-149, February.
- Onofri, Marco & Peersman, Gert & Smets, Frank, 2023.
"The effectiveness of a negative interest rate policy,"
Journal of Monetary Economics, Elsevier, vol. 140(C), pages 16-33.
- Smets, Frank & Onofri, Marco & Peersman, Gert, 2021. "The Effectiveness of a Negative Interest Rate Policy," CEPR Discussion Papers 16236, C.E.P.R. Discussion Papers.
- Marco Onofri & Gert Peersman & Frank R. Smets, 2021. "The Effectiveness Of A Negative Interest Rate Policy," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 21/1015, Ghent University, Faculty of Economics and Business Administration.
- Anthony Brassil, 2022.
"The Consequences of Low Interest Rates for the Australian Banking Sector,"
RBA Annual Conference Papers
acp2022-04, Reserve Bank of Australia, revised Dec 2022.
- Anthony Brassil, 2022. "The Consequences of Low Interest Rates for the Australian Banking Sector," RBA Research Discussion Papers rdp2022-08, Reserve Bank of Australia.
- Wenlian Gao & Feifei Zhu & Kai Chen, 2023. "The role of bank lenders in firm leverage adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(1), pages 63-97, February.
- Bersch, Johannes & Degryse, Hans & Kick, Thomas & Stein, Ingrid, 2020.
"The real effects of bank distress: Evidence from bank bailouts in Germany,"
Journal of Corporate Finance, Elsevier, vol. 60(C).
- Bersch, Johannes & Degryse, Hans & Kick, Thomas & Stein, Ingrid, 2019. "The real effects of bank distress: Evidence from bank bailouts in Germany," Discussion Papers 38/2019, Deutsche Bundesbank.
- Bersch, Johannes & Degryse, Hans & Kick, Thomas & Stein, Ingrid, 2019. "The real effects of bank distress: Evidence from bank bailouts in Germany," ZEW Discussion Papers 19-041, ZEW - Leibniz Centre for European Economic Research.
- Jeffrey R. Campbell & Thomas B. King & Anna Orlik & Rebecca Zarutskie, 2020. "Issues Regarding the Use of the Policy Rate Tool," Finance and Economics Discussion Series 2020-070, Board of Governors of the Federal Reserve System (U.S.).
- Gareth Anderson & Saleem Bahaj & Matthieu Chavaz & Angus Foulis & Gabor Pinter, 2023.
"Lending Relationships and the Collateral Channel,"
Review of Finance, European Finance Association, vol. 27(3), pages 851-887.
- Anderson, Gareth & Bahaj, Saleem & Chavaz, Matthieu & Foulis, Angus & Pinter, Gabor, 2018. "Lending relationships and the collateral channel," Bank of England working papers 768, Bank of England.
- Anderson, Gareth & Bahaj, Saleem & Chavaz, Matthieu & Foulis, Angus & Pinter, Gabor, 2018. "Lending relationships and the collateral channel," LSE Research Online Documents on Economics 90371, London School of Economics and Political Science, LSE Library.
- Gareth Anderson & Saleem Bahaj & Matthieu Chavaz & Angus Foulis & Gabor Pinter, 2018. "Lending Relationships and the Collateral Channel," Discussion Papers 1813, Centre for Macroeconomics (CFM).
- Darracq Pariès, Matthieu & Kok, Christoffer & Rottner, Matthias, 2023.
"Reversal interest rate and macroprudential policy,"
European Economic Review, Elsevier, vol. 159(C).
- Darracq Pariès, Matthieu & Kok, Christoffer & Rottner, Matthias, 2020. "Reversal interest rate and macroprudential policy," Working Paper Series 2487, European Central Bank.
- Darracq Pariès, Matthieu & Kok Sørensen, Christoffer & Rottner, Matthias, 2021. "Reversal interest rate and macroprudential policy," Discussion Papers 24/2021, Deutsche Bundesbank.
- Tassel, Eric Van, 2006. "Relationship lending under asymmetric information: A case of blocked entry," International Journal of Industrial Organization, Elsevier, vol. 24(5), pages 915-929, September.
- Vesala, Timo, 2007. "Switching costs and relationship profits in bank lending," Journal of Banking & Finance, Elsevier, vol. 31(2), pages 477-493, February.
- de Groot, Oliver & Haas, Alexander, 2023.
"The signalling channel of negative interest rates,"
Journal of Monetary Economics, Elsevier, vol. 138(C), pages 87-103.
- Oliver de Groot & Alexander Haas, 2019. "The Signalling Channel of Negative Interest Rates," Working Papers 201905, University of Liverpool, Department of Economics.
- de Groot, Oliver & Haas, Alexander, 2019. "The Signalling Channel of Negative Interest Rates," MPRA Paper 95479, University Library of Munich, Germany.
- de Groot, Oliver & Haas, Alexander, 2020. "The Signalling Channel of Negative Interest Rates," CEPR Discussion Papers 14268, C.E.P.R. Discussion Papers.
- Oliver de Groot & Alexander Haas, 2021. "The signalling channel of negative interest rates," Economics Series Working Papers 956 JEL classification: E, University of Oxford, Department of Economics.
- Oliver de Groot & Alexander Haas, 2022. "The Signalling Channel of Negative Interest Rates," Discussion Papers of DIW Berlin 1990, DIW Berlin, German Institute for Economic Research.
- Reto Wernli & Andreas Dietrich, 2022. "Only the brave: improving self-rationing efficiency among discouraged Swiss SMEs," Small Business Economics, Springer, vol. 59(3), pages 977-1003, October.
- Bertrand, Jérémie & Klein, Paul-Olivier, 2021. "Creditor information registries and relationship lending," International Review of Law and Economics, Elsevier, vol. 65(C).
- Claeys, Sophie & Hainz, Christa, 2006.
"Acquisition versus greenfield: the impact of the mode of foreign bank entry on information and bank lending rates,"
Working Paper Series
653, European Central Bank.
- Claeys, Sophie & Hainz, Christa, 2006. "Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 182, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Claeys, Sophie & Hainz, Christa, 2007. "Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates," Working Paper Series 210, Sveriges Riksbank (Central Bank of Sweden).
- Nicolas Reigl & Karsten Staehr, 2020. "Negative Interest Rates in the Five Eurozone Countries from Central and Eastern Europe," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 21(01), pages 24-30, April.
- Andreas Stephan & Oleksandr Talavera & Andriy Tsapin, 2011. "Main bank power, Switching Costs, and Firm Performance. Evidence from Ukraine," University of East Anglia Applied and Financial Economics Working Paper Series 026, School of Economics, University of East Anglia, Norwich, UK..
- Allen N. Berger & Christa H. S. Bouwman & Lars Norden & Raluca A. Roman & Gregory F. Udell & Teng Wang, 2024.
"Piercing through Opacity: Relationships and Credit Card Lending to Consumers and Small Businesses during Normal Times and the COVID-19 Crisis,"
Journal of Political Economy, University of Chicago Press, vol. 132(2), pages 484-551.
- Allen N. Berger & Christa H. S. Bouwman & Lars Norden & Raluca A. Roman & Gregory F. Udell & Teng Wang, 2021. "Piercing Through Opacity: Relationships and Credit Card Lending to Consumers and Small Businesses During Normal Times and the COVID-19 Crisis," Working Papers 21-19, Federal Reserve Bank of Philadelphia.
More about this item
Keywords
Relationship lending; monetary policy pass-through; low interest rates; policy rate; switching costs;All these keywords.
JEL classification:
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- 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
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBA-2025-05-12 (Central Banking)
- NEP-MON-2025-05-12 (Monetary Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:boe:boeewp:1123. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Digital Media Team (email available below). General contact details of provider: https://edirc.repec.org/data/boegvuk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.