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dc.contributor.authorAltavilla, Carlo
dc.contributor.authorCanova, Fabio
dc.contributor.authorCiccarelli, Matteo
dc.date.accessioned2017-02-02T12:08:20Z
dc.date.available2017-02-02T12:08:20Z
dc.date.issued2016
dc.identifier.issn1892-2198
dc.identifier.urihttp://hdl.handle.net/11250/2429272
dc.description.abstractWe 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.isoengnb_NO
dc.publisherBI Norwegian Business Schoolnb_NO
dc.relation.ispartofseriesCAMP Working Paper Series;9/2016
dc.subjectMonetary policy pass-through,nb_NO
dc.subjecteuropean banksnb_NO
dc.subjectheterogeneitynb_NO
dc.subjectVARsnb_NO
dc.titleMending the broken link: heterogeneous bank lending and monetary policy pass-throughnb_NO
dc.typeWorking papernb_NO
dc.source.pagenumber49nb_NO


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