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Money-based interest rate rules : lessons from German data

Gerberding, Christina (contributor); … - 2007

The paper derives the monetary policy reaction function implied by money growth targeting. It consists of an interest rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and to the lagged interest rate. In the second part, it is...

Persistent link: https://www.econbiz.de/10003453449

Macroeconomic fluctuations and bank lending: evidence for Germany and the euro area

Eickmeier, Sandra (contributor); Hofmann, Boris (contributor) - 2006

monetary policy shocks in Germany and the euro area. The results suggest that the dynamic responses in the two areas are …

Persistent link: https://www.econbiz.de/10003384593

Monetary policy effects on bank loans in Germany : a panel-econometric analysis

Worms, Andreas - 2001

A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to change bank loan supply. This paper contributes to the discussion on this issue by presenting empirical evidence from dynamic panel estimations based on a dataset that comprises...

Persistent link: https://www.econbiz.de/10011419446

Estimating bilateral exposures in the German interbank market : is there a danger of contagion?

Upper, Christian; Worms, Andreas - 2002

Credit risk associated with interbank lending may lead to domino effects, where the failure of one bank results in the failure of other banks not directly affected by the initial shock. Recent work in economic theory shows that this risk of contagion depends on the precise pattern of interbank...

Persistent link: https://www.econbiz.de/10011431377

How the Bundesbank really conducted monetary policy : an analysis based on real-time data

Gerberding, Christina (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002235391

Financial systems and the role of banks in monetary policy transmission in the euro area

Ehrmann, Michael; Gambacorta, Leonardo; Martínez … - 2001

This paper offers a comprehensive comparison of the structure of banking and financial markets in the euro area. Based on this, several hypotheses about the role of banks in monetary policy transmission are developed. Many of the predictions that have been proposed for the U.S. are deemed...

Persistent link: https://www.econbiz.de/10011419463

Interbank lending and monetary policy transmission : evidence for Germany

Ehrmann, Michael; Worms, Andreas - 2001

This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse … loan portfolio relatively unaffected. This may explain why the evidence for a bank lending channel in Germany seems to be …Dieses Papier präsentiert empirische Evidenz zum Verhalten der Interbankkredite in Deutschland nach einem …

Persistent link: https://www.econbiz.de/10011419387