The Effect of Capital Requirement Regulation on the Transmission of Monetary Policy: Evidence from Austria

Philipp Engler,Terhi Jokipii,Christian Merkl and Lúcio Vinhas de Souza Pablo Rovira Kaltwasser
Authors registered in the RePEc Author Service: Philipp Engler, Lucio Vinhas de Souza (), Pablo Rovira Kaltwasser and Christian P. Merkl

The Institute for International Integration Studies Discussion Paper Series from IIIS

Abstract: This paper investigates the existence of a bank lending and a bank capital channel in Austria by applying the dynamic Arellano-Bond GMM-estimator to a quarterly bank level dataset spanning from 1997 to 2003. While we do find evidence that the bank lending channel is in existence, with an important role active for capitalization, we are unable to confirm that the bank capital channel is in force in Austria. Our results indicate some counter-cyclicality in lending activity, a finding that is in line with the existing Austrian literature. Classification-

New Economics Papers: this item is included in nep-eec, nep-mac and nep-reg
Date: 2005-04-20
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Related works:
Working Paper: The Effect of Capital Requirement Regulation on the Transmission of Monetary Policy: Evidence from Austria (2005)
Journal Article: The effect of capital requirement regulation on the transmission of monetary policy: evidence from Austria (2007)
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