The transmission mechanism of monetary policy in Europe: evidence from banks' balance sheets
Available studies on asymmetries in the monetary transmission mechanism within Europe
are invariably based on macro-economic evidence: such evidence is abundant but often
contradictory. This paper takes a different route by using micro-economic data. We use the
information contained in the balance sheets of individual banks (available from the
BankScope database) to implement a case-study on the response of banks in France,
Germany, Italy and Spain to a monetary tightening. The episode we study occurred during …
are invariably based on macro-economic evidence: such evidence is abundant but often
contradictory. This paper takes a different route by using micro-economic data. We use the
information contained in the balance sheets of individual banks (available from the
BankScope database) to implement a case-study on the response of banks in France,
Germany, Italy and Spain to a monetary tightening. The episode we study occurred during …
[PDF][PDF] The transmission mechanism of monetary policy in Europe: evidence from banks' balance sheets
F Giavazzi, CA Falvero, L Flabbi - 1999 - dspace.mit.edu
Available studies on asymmetries in the monetary transmission mechanism within Europe
are invariably based on macro-economic evidence: such evidence is abundant but often
contradictory. This paper takes a different route by using micro-economic data. We use the
informationcontained in the balance sheets of individual banks (available from the
BankScope database) to implement a case study on the response of banks in France,
Germany, Italy, and Spain to a monetary tightening. The episode we study occurred during …
are invariably based on macro-economic evidence: such evidence is abundant but often
contradictory. This paper takes a different route by using micro-economic data. We use the
informationcontained in the balance sheets of individual banks (available from the
BankScope database) to implement a case study on the response of banks in France,
Germany, Italy, and Spain to a monetary tightening. The episode we study occurred during …
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