Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153860
Authors: 
Altunbas, Yener
Gambacorta, Leonardo
Marqués-Ibáñez, David
Year of Publication: 
2012
Series/Report no.: 
ECB Working Paper 1427
Abstract: 
We analyze whether the impact of monetary policy on bank risk depends upon bank characteristics. We relate the materialization of bank risk during the financial crisis to differences in the monetary policy stance and bank characteristics in the pre-crisis period for a large sample of listed banks operating in the European Union and the United States. We find that the insulation effect produced by capital and liquidity buffers on bank risk was lower for banks operating in countries that, prior to the crisis, experienced a particularly prolonged period of low interest rates.
Subjects: 
bank characteristics
credit crisis
monetary policy
Risk-taking channel
JEL: 
E44
E52
G21
Document Type: 
Working Paper

Files in This Item:
File
Size
232.24 kB





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