Journal article


The effect of capital requirement regulation on the transmission of monetary policy: Evidence from Austria


Publication Details
Author(s): Merkl C, Engler P, Jokipii T, Vinhas de Souza L, Rovira Kaltwasser P
Journal: Empirica
Publisher: Kluwer Academic Publishers
Publication year: 2007
Volume: 34
Journal issue: 5
Pages range: 411-425
ISSN: 0340-8744
eISSN: 1573-6911
Language: English

Abstract

This paper analyzes the role of banks' regulatory capitalization in the transmission of monetary policy. We use a confidential dataset for Austrian banks spanning from the first quarter of 1997 to the fourth quarter of 2003. We find evidence that Austrian banks react in an asymmetric way to monetary policy depending on their regulatory excess capitalization, i.e. low capitalized banks react more restrictively to a monetary tightening than their highly capitalized peers.



How to cite
APA: Merkl, C., Engler, P., Jokipii, T., Vinhas de Souza, L., & Rovira Kaltwasser, P. (2007). The effect of capital requirement regulation on the transmission of monetary policy: Evidence from Austria. Empirica, 34(5), 411-425. https://dx.doi.org/10.1007/s10663-007-9041-4

MLA: Merkl, Christian, et al. "The effect of capital requirement regulation on the transmission of monetary policy: Evidence from Austria." Empirica 34.5 (2007): 411-425.

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