Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322863 
Year of Publication: 
2011
Series/Report no.: 
Discussion Papers Series No. 11-21
Publisher: 
Utrecht University, Utrecht School of Economics, Tjalling C. Koopmans Research Institute, Utrecht
Abstract: 
We investigate the industry dimension of bank lending and its role in the monetary transmission mechanism in Germany. We use dynamic panel methods to estimate bank lending functions for eight industries for the period 1992-2002. Our evidence shows that bank lending growth predominantly depends on the industry composition of bank loan portfolios, both through the underlying cyclical fluctuations in industry-specific bank credit demand and through industry-specific credit supply effects.
Subjects: 
Monetary policy transmission
credit channel
industry structure
dynamic panel data
Document Type: 
Working Paper

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