Credit channels in Europe: a cross-country investigation

Gabe de Bondt

BNL Quarterly Review, 1999, vol. 52, issue 210, 295-326

Abstract: The work provides an economic analysis of the monetary transmission mechanism in Europe. The author reviews the literature on the money and credit view before describing cross-country differences in credit channel indicators and examining the existence of credit channels by distinguishing between households and firms. The relative importance of a bank lending and balance sheet channel is discussed by assessing impulse response functions from a vector error correction model.

Keywords: Economic research; credit channels; monetary transmission mechanism (search for similar items in EconPapers)
JEL-codes: E51 (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (14)

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