Artikel
A Differential View on the Credit Channel of Monetary Policy Transmission
Ein alternativer Ansatz zur Identifikation des Kreditkanals der monetären Transmission In diesem Aufsatz wird der Kreditkanal der monetären Transmission auf der Basis eines Markov-Switching-Modells anhand von Risikoprämien von US-amerikanischen Unternehmensanleihen analysiert. Es zeigt sich, dass die Wirksamkeit des Kreditkanals nicht nur durch die Ausrichtung der Geldpolitik sowie die jeweilige Konjunkturlage, sondern zusätzlich durch einen latenten Faktor bestimmt wird, der die Situation auf den amerikanischen Finanzmärkten widerspiegelt. Der Kreditkanal tritt dabei in Phasen turbulenter Finanzmärkte wie der lateinamerikanischen Verschuldungskrise der frühen 1980er-Jahre, der amerikanischen Sparkassenkrise(Savings & Loan) sowie in letzter Zeit im Gefolge der Terrorattacken sowie der Bilanzskandale verstärkt in den Vordergrund.
- Sprache
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Englisch
- Erschienen in
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Journal: Kredit und Kapital ; ISSN: 1865-5734 ; Volume: 39 ; Year: 2006 ; Issue: 4 ; Pages: 537-549
- Klassifikation
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Wirtschaft
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Money Supply; Credit; Money Multipliers
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kempa, Bernd
Holtrup, Hans-Jürgen
Hendricks, Torben
- Ereignis
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Veröffentlichung
- (wer)
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Duncker & Humblot
- (wo)
-
Berlin
- (wann)
-
2006
- DOI
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doi:10.3790/ccm.39.4.537
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Kempa, Bernd
- Holtrup, Hans-Jürgen
- Hendricks, Torben
- Duncker & Humblot
Entstanden
- 2006
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