Unconventional monetary policy effects on bank lending in the euro area

This paper employs a structural VAR framework with sign restrictions to estimate the effects of unconventional monetary policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending. Using a variable for newly issued credit instead of the outstanding stock of credit, the effects on bank lending are smaller than found in previous similar studies for the Euro area.

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Year of publication:	2017
Authors:	Behrendt, Stefan
Publisher:	Jena : Friedrich Schiller University Jena
Subject:	unconventional monetary policy \| zero lower bound \| bank lending \| SVAR

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Series:	Jena Economic Research Papers ; 2017-002
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	880547103 [GVK] hdl:10419/162487 [Handle]
Classification:	C32 - Time-Series Models ; E30 - Prices, Business Fluctuations, and Cycles. General ; E44 - Financial Markets and the Macroeconomy ; E51 - Money Supply; Credit; Money Multipliers ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	EconStor

Persistent link: https://www.econbiz.de/10011663361