Similar Search Results

Portfolio rebalancing and the transmission of large-scale asset programmes: Evidence from the euro area

Albertazzi, Ugo; Boucinha, Miguel; Becker, Bo - 2018

Large-scale asset programmes aim to impact the real economy through the financial system. The ECB has focused much of its policies on safe assets. An intended channel of transmission of this type of programme is the "portfolio rebalancing channel", whereby investors are influenced to shift their...

Persistent link: https://www.econbiz.de/10011853313

Unconventional monetary policy, bank lending, and security holdings: The yield-induced portfolio rebalancing channel

Paludkiewicz, Karol - 2018

), this paper provides evidence for the presence of a yield-induced portfolio rebalancing channel: Banks experiencing a higher … average yield decline of their securities portfolio - induced by unconventional expansionary monetary policy - increase their … decisions. Moreover, I find that banks with a higher average yield decline reduce their overall investments in securities more …

Persistent link: https://www.econbiz.de/10011874693

Unconventional Monetary Policy, Bank Lending, and Security Holdings: The Yield-Induced Portfolio Rebalancing Channel

Paludkiewicz, Karol - 2018

Persistent link: https://www.econbiz.de/10011892579

Financial factors in economic fluctuations

Christiano, Lawrence; Rostagno, Massimo; Motto, Roberto - 2010

We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...

Persistent link: https://www.econbiz.de/10011605238

The effect of targeted monetary policy on bank lending

Laine, Olli-Matti - In: Journal of Banking and Financial Economics (JBFE) (2021) 15, pp. 25-43

This paper studies the effect of central banks' targeted refinancing operations on bank lending. It utilizes data from the European Central Bank's targeted longer-term refinancing operations (TLTROs) together with monthly bank level balance sheet data from multiple countries. The effect of...

Persistent link: https://www.econbiz.de/10015330063

Bank Concentration and Monetary Policy Pass-Through

Gödl-Hanisch, Isabel - 2023

This paper analyzes the implications of the gradual rise in bank concentration since the 1990s for the transmission of monetary policy. I use branch-level data on deposit and loan rates to evaluate the monetary policy pass-through conditional on the level of local bank concentration and bank...

Persistent link: https://www.econbiz.de/10014290288

Size of banks as a factor which impacts the efficiency of the bank lending channel

Świtała, Filip; Kowalska, Iwona; Malajkat, Karolina - In: Financial Internet Quarterly 16 (2020) 1, pp. 36-44

In most economies the banking sector plays the major role in the financial system. Therefore, it is of great importance to analyse and understand the mechanism of transmission of monetary policy and its impact on the banking sector. One of the possible repercussions of changing the level of...

Persistent link: https://www.econbiz.de/10013466238

International Monetary Transmission with Bank Heterogeneity and Default Risk

Tsenova, Tsvetomira - 2013

This paper compares the effectiveness, efficiency and robustness of standard and non-standard monetary policy tools, such as the banks' refinancing interest rate, penalty interest rate on deposit facility holdings and minimum reserve requirements on attracted deposits. The assessment is...

Persistent link: https://www.econbiz.de/10011345518

A Macro-Financial Perspective to Analyse Maturity Mismatch and Default

Wang, Xuan - 2020

The Basel Committee proposed the Net Stable Funding Ratio (NSFR) to curb excessive maturity mismatch of the banking sector. However, it remains to be ascertained as to what are the financial and real effects of the NSFR on banks' credit quality, investment, and the pass-through of monetary...

Persistent link: https://www.econbiz.de/10012427164

Evidence about the transmission of monetary policy

Laine, Olli-Matti - 2022

This doctoral dissertation analyses the transmission of monetary policy. It applies a variety of empirical methods to study how conventional and unconventional monetary policy measures transmit to different macroeconomic and financial variables. The first article analyses the effect of monetary...

Persistent link: https://www.econbiz.de/10013262903