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Monetary conditions and banks' behaviour in the Czech Republic

Adam Gersl, Petr Jakubík (), Dorota Kowalczyk, Steven Ongena and Jose-Luis Peydro ()

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: This paper examines the impact of monetary conditions on the risk-taking behaviour of banks in the Czech Republic by analysing the comprehensive credit register of the Czech National Bank. Our duration ana- lysis indicates that expansionary monetary conditions promote risk-taking among banks. At the same time, a lower interest rate during the life of a loan reduces its riskiness. While seeking to assess the association between banks' appetite for risk and the short-term interest rate we answer a set of questions related to the di erence between higher liquidity versus credit risk and the e ect of the policy rate conditioned on bank and borrower characteristics.

Date: 2015-02
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Related works:
Journal Article: Monetary Conditions and Banks’ Behaviour in the Czech Republic (2015) Downloads
Journal Article: Monetary conditions and banks’ behaviour in the Czech Republic (2015) Downloads
Working Paper: Monetary Conditions and Banks' Behaviour in the Czech Republic (2012) Downloads
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