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dc.contributor.authorHuelsewig, Oliveren_US
dc.contributor.authorMayer, Ericen_US
dc.contributor.authorWollmershäuser, Timoen_US
dc.date.accessioned2009-01-28T15:52:34Z-
dc.date.available2009-01-28T15:52:34Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/18744-
dc.description.abstractThis paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking firm in which banks decide on their loan supply in light of uncertainty about the future course of monetary policy. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking into account the reaction of the output level and the loan rate. We estimate our model to characterize the response of bank loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock. Evidence in support of the credit channel can be reported.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesCESifo working papers 1380en_US
dc.subject.jelE44en_US
dc.subject.jelE51en_US
dc.subject.ddc330en_US
dc.subject.keywordmonetary policy transmissionen_US
dc.subject.keywordcredit channelen_US
dc.subject.keywordloan supplyen_US
dc.subject.keywordloan demanden_US
dc.subject.keywordminimum distance estimationen_US
dc.subject.stwKreditkanalen_US
dc.subject.stwKrediten_US
dc.subject.stwTransmissionsmechanismusen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwSchocken_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleBank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responsesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn479118345en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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