Banks' regulatory buffers, liquidity networks and monetary policy transmission

Journal article


Publication Details

Author(s): Merkl C, Stolz S
Journal: Applied economics
Publisher: Taylor & Francis (Routledge)
Publication year: 2009
Volume: 41
Journal issue: 16
Pages range: 2013-2024
ISSN: 0003-6846
eISSN: 1466-4283
Language: English


Abstract


Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this article analyses 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 favour 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.



FAU Authors / FAU Editors

Merkl, Christian Prof. Dr.
Lehrstuhl für Volkswirtschaftslehre, insbesondere Makroökonomik


How to cite

APA:
Merkl, C., & Stolz, S. (2009). Banks' regulatory buffers, liquidity networks and monetary policy transmission. Applied economics, 41(16), 2013-2024. https://dx.doi.org/10.1080/00036840802360245

MLA:
Merkl, Christian, and Stéphanie Stolz. "Banks' regulatory buffers, liquidity networks and monetary policy transmission." Applied economics 41.16 (2009): 2013-2024.

BibTeX: 

Last updated on 2018-07-06 at 09:23