|
|||||
|
|
The effect of capital requirement regulation on the transmission of monetary policy: evidence from Austria |
|||
| Authors: | Philipp Engler Terhi Jokipii Christian Merkl Pablo Rovira Kaltwasser Lúcio Vinhas de Souza | ||
| Affiliation: | 1.Department of Economics,Free University of Berlin,Berlin,Germany;2.Department of Finance,Swedish Institute for Financial Research and Stockholm School of Economics,Stockholm,Sweden;3.Kiel Institute for the World Economy,Christian-Albrechts University,Kiel,Germany;4.Department of Economics,Catholic University of Leuven,Leuven,Belgium;5.European Commission,Brussels,Belgium | ||
| Abstract: | This paper analyzes the role of banks’ regulatory capitalization in the transmission of monetary policy. We use a confidential dataset for Austrian banks spanning from the first quarter of 1997 to the fourth quarter of 2003. We find evidence that Austrian banks react in an asymmetric way to monetary policy depending on their regulatory excess capitalization, i.e. low capitalized banks react more restrictively to a monetary tightening than their highly capitalized peers.
|
||
| Keywords: | Monetary Policy Transmission Bank Lending Channel Bank Capital Channel Austria | ||
| 本文献已被 SpringerLink 等数据库收录！ | |||
