Arbeitspapier
Did interest rates at the zero lower bound affect lending of commercial banks? Evidence for the euro area
The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based on the Bankscope database, bank balance sheet data is utilized. Control variables are included, such as for the system of banking regulation. The panel estimation includes 706 banks from 15 Euro area member states and is conducted for the period 2000 to 2015. All models show a significant positive impact of lower interest rates on net lending. In particular, the results do not indicate that credit is restricted if interest rates move towards the zero-lower bound.
- Sprache
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Englisch
- Erschienen in
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Series: ROME Discussion Paper Series ; No. 2019-07
- Klassifikation
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Wirtschaft
Financial Markets and the Macroeconomy
Money Supply; Credit; Money Multipliers
Monetary Policy
- Thema
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bank lending
banking regulation
monetary transmission mechanisms
low interest rate environment
- Ereignis
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Geistige Schöpfung
- (wer)
-
Belke, Ansgar
Dreger, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
Research On Money in the Economy (ROME)
- (wo)
-
s.l.
- (wann)
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2019
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 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
- Belke, Ansgar
- Dreger, Christian
- Research On Money in the Economy (ROME)
Entstanden
- 2019
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