Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/3916
Authors: 
Merkl, Christian
Stolz, Stéphanie
Year of Publication: 
2006
Series/Report no.: 
Kiel Working Paper 1303
Abstract: 
Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this paper analyzes the effects of banks' regulatory capital on the transmission of monetary policy in a system of liquidity networks. The dynamic panel regression results provide evidence in favor of the bank capital channel theory. Banks holding less regulatory capital and less interbank liquidity react more restrictively to a monetary tightening than their peers.
Subjects: 
Bank lending channel
Bank capital channel
Liquidity networks
Monetary policy transmission
JEL: 
E52
G21
G28
C23
Document Type: 
Working Paper

Files in This Item:
File
Size
817.98 kB





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