Does competition influence the bank lending channel in the euro area?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F14%3A10281062" target="_blank" >RIV/00216208:11230/14:10281062 - isvavai.cz</a>

Výsledek na webu

<a href="http://www.sciencedirect.com/science/article/pii/S0378426614002337" target="_blank" >http://www.sciencedirect.com/science/article/pii/S0378426614002337</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.jbankfin.2014.06.018" target="_blank" >10.1016/j.jbankfin.2014.06.018</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Does competition influence the bank lending channel in the euro area?

Popis výsledku v původním jazyce

This paper examines how competition influences the bank lending channel in the euro area countries. Using a large panel of banks from 12 euro area countries for the period 2002-2010 we analyze the reaction of loan supply to monetary policy actions depending on the degree of bank competition. We find that the effect of monetary policy on bank lending is dependent on bank competition: the transmission of monetary policy via the bank lending channel is less pronounced for banks with extensive market power.Further investigation shows that banks with less market power were more sensitive to monetary policy only before the financial crisis. These results suggest that bank market power has a significant impact on the effectiveness of monetary policy. Therefore, wide variations in the level of bank market power may lead to asymmetric effects of the single monetary policy.

Název v anglickém jazyce

Does competition influence the bank lending channel in the euro area?

Popis výsledku anglicky

This paper examines how competition influences the bank lending channel in the euro area countries. Using a large panel of banks from 12 euro area countries for the period 2002-2010 we analyze the reaction of loan supply to monetary policy actions depending on the degree of bank competition. We find that the effect of monetary policy on bank lending is dependent on bank competition: the transmission of monetary policy via the bank lending channel is less pronounced for banks with extensive market power.Further investigation shows that banks with less market power were more sensitive to monetary policy only before the financial crisis. These results suggest that bank market power has a significant impact on the effectiveness of monetary policy. Therefore, wide variations in the level of bank market power may lead to asymmetric effects of the single monetary policy.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2014

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Banking and Finance

ISSN

0378-4266

e-ISSN

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Svazek periodika

49

Číslo periodika v rámci svazku

December

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

11

Strana od-do

356-366

Kód UT WoS článku

000347576400026

EID výsledku v databázi Scopus

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