Industry Effects of Bank Lending in Germany

Ivo Arnold (), Clemens J.M. Kool () and Katharina Raabe ()

No 11-21, Working Papers from Utrecht School of Economics

Abstract: We investigate the industry dimension of bank lending and its role in the monetary transmission mechanism in Germany. We use dynamic panel methods to estimate bank lending functions for eight industries for the period 1992-2002. Our evidence shows that bank lending growth predominantly depends on the industry composition of bank loan portfolios, both through the underlying cyclical fluctuations in industry-specific bank credit demand and through industry-specific credit supply effects.

Keywords: Monetary policy transmission; credit channel; industry structure; dynamic panel data (search for similar items in EconPapers)
JEL-codes: C23 E52 G21 L16 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-cba and nep-mon
Date: 2011-11
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