Is there a bank lending channel of monetary policy in Greece? Evidence from bank level data
Sophocles Brissimis,
Nicos C. Kamberoglou and
George T. Simigiannis
No 104, Working Paper Series from European Central Bank
Abstract:
This paper analyses empirically the role of bank lending in monetary policy transmission on the basis of Greek bank level data. Two approaches have been taken. One employing a reduced form equation linking monetary policy and distributional variables to bank loans in the spirit of Kashyap and Stein's work. The other, which in general yields more satisfactory results, brings together some of the features of the Bernanke-Blinder model with a method for assessing the impact of differential balance-sheet characteristics on banks' ability to supply loans and investigates directly the behaviour of bank loan supply. A loan supply function was estimated with the use of the bank data, and bank-specific characteristics were found to systematically shift this function JEL Classification: C23, E44, E51, E52, G21
Keywords: bank lending; differential bank characteristics; models with panel data; monetary policy transmission (search for similar items in EconPapers)
Date: 2001-12
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Citations: View citations in EconPapers (24)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:2001104
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