More documents from Merkl, Christian; Stolz, Stéphanie
More documents from Applied Economics

Export to your Reference Manger

Please Copy & Paste



Bookmark and Share

Banks’ Regulatory Buffers, Liquidity Networks and Monetary Policy Transmission

[journal article]

Merkl, Christian; Stolz, Stéphanie

fulltextDownloadDownload full text

(569 KByte)

Citation Suggestion

Please use the following Persistent Identifier (PID) to cite this document:

Further Details
Abstract Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this paper analyzes 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.
Classification National Economy
Document language English
Publication Year 2009
Page/Pages p. 2013-2024
Journal Applied Economics, 41 (2009) 16
ISSN 1466-4283
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)