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Kezdőlap Média Kisokos Kutatás és publikációk Statisztika Monetáris politika Az €uro Fizetésforgalom és piacok Karrier
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Nicos C. Kamberoglou

1 December 2001
WORKING PAPER SERIES - No. 104
Details
Abstract
This paper analyses empirically the role of bank lending in monetary policy transmission on the basis of Greek bank level data. Two approaches have been taken. One employing a reduced form equation linking monetary policy and distributional variables to bank loans in the spirit of Kashyap and Stein's work. The other, which in general yields more satisfactory results, brings together some of the features of the Bernanke-Blinder model with a method for assessing the impact of differential balance-sheet characteristics on banks' ability to supply loans and investigates directly the behaviour of bank loan supply. A loan supply function was estimated with the use of the bank data, and bank-specific characteristics were found to systematically shift this function
JEL Code
C23 : Mathematical and Quantitative Methods→Single Equation Models, Single Variables→Panel Data Models, Spatio-temporal Models
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E51 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Money Supply, Credit, Money Multipliers
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
Network
Eurosystem Monetary Transmission Network