المستودع الأكاديمي جامعة المدينة

Bank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responses

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dc.creator Huelsewig, Oliver
dc.creator Mayer, Eric
dc.creator Wollmershäuser, Timo
dc.date 2005
dc.date.accessioned 2013-10-16T07:01:05Z
dc.date.available 2013-10-16T07:01:05Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18744
dc.identifier ppn:479118345
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18744
dc.description This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking firm in which banks decide on their loan supply in light of uncertainty about the future course of monetary policy. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking into account the reaction of the output level and the loan rate. We estimate our model to characterize the response of bank loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock. Evidence in support of the credit channel can be reported.
dc.language eng
dc.relation CESifo working papers 1380
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E44
dc.subject E51
dc.subject ddc:330
dc.subject monetary policy transmission
dc.subject credit channel
dc.subject loan supply
dc.subject loan demand
dc.subject minimum distance estimation
dc.subject Kreditkanal
dc.subject Kredit
dc.subject Transmissionsmechanismus
dc.subject Geldpolitik
dc.subject Schock
dc.subject Schätzung
dc.subject Deutschland
dc.title Bank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responses
dc.type doc-type:workingPaper


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