Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152536
Authors: 
Farinha, Luísa
Robalo Marques, Carlos
Year of Publication: 
2001
Series/Report no.: 
ECB Working Paper 102
Abstract: 
This paper investigates the existence of the bank-lending channel in the transmission of monetary policy using Portuguese micro bank data. In contrast to the conventional approach, which addresses the identification issue by resorting to reduced form equations for bank credit with variables in differences, we directly estimate loan-supply schedules with variables in levels, thereby exploiting recent results on cointegration for panel data. We conclude that there is evidence of the existence of a bank-lending channel, and that the importance of the bank lending-channel is larger for less capitalised banks
Subjects: 
bank lending channel
Identification
Monetary policy transmission mechanism
JEL: 
C33
E44
E52
G21
Document Type: 
Working Paper

Files in This Item:
File
Size
564.24 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.