dc.contributor.author | Altavilla, Carlo | |
dc.contributor.author | Canova, Fabio | |
dc.contributor.author | Ciccarelli, Matteo | |
dc.date.accessioned | 2017-02-02T12:08:20Z | |
dc.date.available | 2017-02-02T12:08:20Z | |
dc.date.issued | 2016 | |
dc.identifier.issn | 1892-2198 | |
dc.identifier.uri | http://hdl.handle.net/11250/2429272 | |
dc.description.abstract | We analyze the pass-through of monetary policy measures to lending rates to fi rms and households in the euro area using a novel bank-level dataset. Banks characteristics such as the capital ratio, the exposure to sovereign debt, and the percentage of non-performing loans are responsible for the heterogeneity in pass-through of conventional monetary policy changes. The location of a bank is irrelevant. Non-standard measures normalized the capacity of banks to grant loans. Banks with high level of non-performing loans and low capital ratio were most affected. Bank's lending margins fell considerably. Macroeconomic implications are discussed. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | BI Norwegian Business School | nb_NO |
dc.relation.ispartofseries | CAMP Working Paper Series;9/2016 | |
dc.subject | Monetary policy pass-through, | nb_NO |
dc.subject | european banks | nb_NO |
dc.subject | heterogeneity | nb_NO |
dc.subject | VARs | nb_NO |
dc.title | Mending the broken link: heterogeneous bank lending and monetary policy pass-through | nb_NO |
dc.type | Working paper | nb_NO |
dc.source.pagenumber | 49 | nb_NO |