Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/152538 
Year of Publication: 
2001
Series/Report no.: 
ECB Working Paper No. 104
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
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
Subjects: 
bank lending
Differential bank characteristics
models with panel data
Monetary policy transmission
JEL: 
C23
E44
E51
E52
G21
Document Type: 
Working Paper

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