EconPapers    
Economics at your fingertips  
 

The Bank Lending Channel of Conventional and Unconventional Monetary Policy

Ugo Albertazzi, Andrea Nobili () and Federico Signoretti ()

Journal of Money, Credit and Banking, 2021, vol. 53, issue 2-3, 261-299

Abstract: Using bank‐level information on lending rates, we study the transmission of conventional and unconventional monetary policy measures in the euro area via shifts in the supply of credit. For conventional operations, we find that the transmission is stronger for weaker banks, in line with the standard predictions of the bank‐lending channel literature. For nonstandard measures, instead, the monetary accommodation was transmitted more by banks with stronger capital and funding positions and characterized by a higher exposure to government bonds.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
https://doi.org/10.1111/jmcb.12766

Related works:
Working Paper: The bank lending channel of conventional and unconventional monetary policy (2016) Downloads
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:wly:jmoncb:v:53:y:2021:i:2-3:p:261-299

Access Statistics for this article

Journal of Money, Credit and Banking is currently edited by Robert deYoung, Paul Evans, Pok-Sang Lam and Kenneth D. West

More articles in Journal of Money, Credit and Banking from Blackwell Publishing
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2022-09-01
Handle: RePEc:wly:jmoncb:v:53:y:2021:i:2-3:p:261-299