Arbeitspapier
International monetary policy spillovers through the bank funding channel
In this paper, we examine the international transmission of monetary policies of major advanced economies (US, UK, euro area) through banks in Austria and Germany. In particular, we compare the role of banks' funding structure, broken down by country of origin as well as by currency denomination, in the international transmission of monetary policy changes to bank lending. We find weak evidence for inward spillovers. The more a bank is funded in US dollars, the more its domestic real sector lending is affected by monetary policy changes in the US. This effect is more pronounced in Germany than in Austria. We do not find evidence for outward spillovers of euro area monetary policy through a bank funding channel.
- ISBN
-
978-3-95729-451-7
- Sprache
-
Englisch
- Erschienen in
-
Series: Bundesbank Discussion Paper ; No. 13/2018
- Klassifikation
-
Wirtschaft
Monetary Policy
International Monetary Arrangements and Institutions
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
- Thema
-
monetary policy spillover
global banks
bank funding channel
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lindner, Peter
Loeffler, Axel
Segalla, Esther
Valitova, Guzel
Vogel, Ursula
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Lindner, Peter
- Loeffler, Axel
- Segalla, Esther
- Valitova, Guzel
- Vogel, Ursula
- Deutsche Bundesbank
Entstanden
- 2018
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