Does monetary policy affect lending? Evidence from some panel data

Guillermo Peña

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the impact of monetary policy on bank lending. There is also a contribution to the empirical evidence of the fact that lending expansion was one of the causes of the Great Recession. We develop a dynamic model following the GMM method in two steps using a no-balanced panel of 36 countries of the OECD and the European Union of the period between 1961 and 2012. The study focuses on some aggregated bank sector characteristics in different countries. We show the existence of a bank sector lending channel. We also conclude that the years 2003-2004 provoked a significant loan increase that led to the financial crisis started in 2007.

Keywords: Monetary policy; financial crisis; bank lending channel (search for similar items in EconPapers)
JEL-codes: E52 E58 G21 (search for similar items in EconPapers)
Date: 2015-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/103882/1/078.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:103882

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().