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2023 | 1(19) | 160-177

Article title

Bank Lending Channel Effectiveness – Potential Lessons For Monetary Policy

Content

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Abstracts

EN
The article supplements the research on the effectiveness of monetary policy transmission – especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan portfolios, while distinguishing between the fact that they were granted by commercial and cooperative banks. How a change in the central bank’s interest rates may determine a change in the volume of loans in the economy remains the core question of the research.

Year

Issue

Pages

160-177

Physical description

Dates

published
2023

Contributors

  • Faculty of Management, University of Warsaw, Poland
  • Faculty of Management, University of Warsaw, Poland
  • Collegium of Socio-Economics, Warsaw School of Economics, Poland

References

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  • Black, L. K., Rosen, R. K. (2007). How the credit channel works: Differentiating the bank lending channel and the balance sheet channel. Working Paper, No. 2007-13, Federal Reserve Bank of Chicago, Chicago, IL.
  • Black, L., Hancock, D., Passmore, W. (2010). The Bank Lending Channel of Monetary Policy and Its Effect on Mortgage Lending, Finance and Economics Discussion Series. https://doi.org/10.2139/ssrn.1895500
  • Chmielewski, T., Kapuściński, M., Kocięcki, A., Łyziak, T., Przystupa, J., Stanisławska, E., Wróbel E. (2018). Mechanizm transmisji polityki pieniężnej w Polsce. Stan wiedzy w 2017 roku. Materiały i Studia NBP, nr 330.
  • Dajcman, S., Tica J. (2017). The broad credit and bank capital channels of monetary policy transmission in the core and peripheral Euro Area. Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu – Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, Vol. 35, No. 2, 249–275. https://doi.org/10.18045/zbefri.2017.2.249
  • De Haan, L. (2001). The credit channel in the Netherlands: evidence from bank balance sheets, European Central Bank Working Paper Series no 98/ December 2001.
  • De Santis, R. A., Surico P. (2013). Bank lending and monetary transmission in the euro area, European Central Bank Working Paper Series no 1568 / July 2013. https://doi.org/10.2139/ssrn.2294854
  • Ehrmann, M., Gambacorta, L., Martines-Page, J., Sevestre, P., Worms, A. (2001). Financial Systems and the Role of Banks in Monetary Transmission in the Euro Area, ECB Working Paper, No. 105. https://doi.org/10.2139/ssrn.356660
  • Gambacorta , L., Mistrulli, P. E. (2004). Does bank capital affect lending behavior?. Journal of Financial Intermediation, Volume 13, Issue 4, 436-457. https://doi.org/10.1016/j.jfi.2004.06.001
  • Garretsen, H., Swank, J. (2003). The Bank Lending Channel in the Netherlands: The Impact of Monetary Policy on Households and Firms. De Economist volume 151. https://doi.org/10.1023/A:1022984614506
  • Gilchrist, S.G., Zakrajsek E. (1995). The importance of credit for macroeconomic activity: identification through heterogenity, Federal Reserve Bank of Boston Conference Series, No. 39.
  • Golodniuk, I. (2006). Evidence on the bank-lending channel in Ukraine, Research in International Business and Finance 20. https://doi.org/10.1016/j.ribaf.2005.09.007
  • Gyöngyös, G., Ongena, S., Schindele, I. (2019). The Impact of Monetary Conditions on Bank Lending to Households. https://www.researchgate.net/publication/336374849_The_Impact_of_Monetary_Conditions_on_Bank_ Lending_to_Households
  • Havrylchyk, O., Jurzyk, E. (2005). Does the Bank Lending Channel Work in a Transition Economy? A Case of Poland. European University Viadrina, http://www.ceistorvergata.it/conferenze&convegni/banking&finance/ XII_conference/9DICEMBRE/HavrylchykJurzyk.pdf
  • Kashyap, A. K., Stein, J. C. (1995). The impact of monetary policy on bank balance sheets. Carnegie-Rochester Conference Series on Public Policy, 42,151–195. https://doi.org/10.1016/0167-2231(95)00032-U
  • Kashyap, A.K., Stein, J.C. (2000). What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?, The American Economic Review, Vol. 90, No. 3. https://doi.org/10.1257/aer.90.3.407
  • Markovic, B. (2006). Bank capital channels in the monetary transmission mechanism. Bank of England, Working Paper no. 313, 1–52. https://doi.org/10.2139/ssrn.965470
  • Matousek, R., Sarantis N. (2009). The bank lending channel and monetary transmission in Central and Eastern European countries, Journal of Comparative Economics, 2009, vol. 37, issue 2, 321–334. https://doi.org/10.1016/j.jce.2008.09.008
  • Meltzer, A.H. (1995). Monetary, Credit (and Other) Transmission Processes: A Monetarist Perspective, Journal of Economic Perspectives, No. 9. https://doi.org/10.1257/jep.9.4.49
  • Meral, G. (2015). The Effect of Bank Size and Bank Capital on the Bank Lending Channel for Turkish Banks, American Scientific Research Journal for Engineering, Technology, and Sciences (ASRJETS) (2015) Volume 12, No 1, pp 1–28.
  • Milcheva, S. (2013). A bank lending channel or a credit supply shock? Journal of Macroeconomics, Volume 37. https://doi.org/10.1016/j.jmacro.2013.03.004
  • Niedźwiedzińska, J. (2020). Initial Monetary Policy Response to the COVID-19 Pandemic in Inflation Targeting Economies, NBP Working Paper No. 335, https://www.nbp.pl/publikacje/materialy_i_studia/335_en.pdf
  • Ramey, V. (1993). How Important is the Credit Channel for the Transmission of Monetary Policy?, NBER Working Paper, No. 4285. https://doi.org/10.3386/w4285
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Document Type

Publication order reference

Identifiers

Biblioteka Nauki
19322658

YADDA identifier

bwmeta1.element.ojs-doi-10_7172_2353-6845_jbfe_2023_1_8
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