Bichsel, Robert; Perrez, Josef - In: Swiss Journal of Economics and Statistics (SJES) 141 (2005) II, pp. 165-190
We study the role of bank capital and liquidity in the transmission of monetary policy in Switzerland. Using a large set of data, we test the assumptions that the effect of a change in the monetary policy stance on a bank's lending activity depends (i) on its capital (the bank capital channel)...