Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212433 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
Bank of Finland Research Discussion Papers No. 25/2018
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
We examine bank capital shocks using a recent new approach based on non-normal errors in vector autoregressive models. Using a sample of 14 European economies over January 2004 through March 2018 we identify two distinct classes of bank capital shocks, capital tightening shocks, and bank profitability shocks. We find that both bank capital shocks frequently lead to changes in lending volume and interest rates for new loans. In contrast to some recent similar studies, we find less evidence for impact on production. Bank capital shocks have further effects on the substitution between the bank and market-based financing and on credit allocation across different borrower sectors. Policymakers may find these results useful when considering counter-cyclical adjustments to the bank capital requirements.
JEL: 
C11
C32
C54
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-323-253-2
Dokumentart: 
Working Paper

Datei(en):
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