Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy write by Mr.Carlo Cottarelli. This book was released on 1994-03-01. Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy available in PDF, EPUB and Kindle. The stickiness of bank lending rates with respect to money market rates is often regarded as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure of the different degree of lending rate stickiness across countries has been attempted. This paper provides such a measure. It also relates the different degree of lending rate stickiness to structural features of the financial system, such as the existence of barriers to competition, the degree of development of financial markets, and the ownership structure of the banking system. Thus, the paper provides further evidence on the relationship between structural financial policies and monetary policy, as well as on the relevance of credit markets for the monetary policy transmission mechanism. The role of administered discount rates in speeding up the. adjustment of lending rates is also discussed.
Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy
Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy write by Carlo Cottarelli. This book was released on 2006. Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy available in PDF, EPUB and Kindle. The stickiness of bank lending rates with respect to money market rates is often regarded as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure of the different degree of lending rate stickiness across countries has been attempted. This paper provides such a measure. It also relates the different degree of lending rate stickiness to structural features of the financial system, such as the existence of barriers to competition, the degree of development of financial markets, and the ownership structure of the banking system. Thus, the paper provides further evidence on the relationship between structural financial policies and monetary policy, as well as on the relevance of credit markets for the monetary policy transmission mechanism. The role of administered discount rates in speeding up the adjustment of lending rates is also discussed.
Bank Lending Rates and Financial Structure in Italy
Bank Lending Rates and Financial Structure in Italy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Bank Lending Rates and Financial Structure in Italy write by Mr.Carlo Cottarelli. This book was released on 1995-04-01. Bank Lending Rates and Financial Structure in Italy available in PDF, EPUB and Kindle. This paper discusses the relation between the financial structure and the determination of bank lending rates in Italy. It notes that the high degree of stickiness of bank lending rates observed in Italy in the past was related to constraints on competition within the banking and financial markets. In this light, it discusses the effect on the lending rate determination process of the sweeping financial liberalization process that characterized the last few years. The paper discusses also the role of the discount rate in speeding up the adjustment process of bank interest rates, and the pros and cons of its possible indexation. The empirical analysis is characterized by use of microeconomic (individual bank) data for a group of 63 Italian banks operating in locally different financial environments. This approach allows the identification of some aspects of the relation between financial structure and lending rate stickiness that were not highlighted in previous studies.
Financial structure, bank lending rates, and the transmission mechanism of monetary policy
Financial structure, bank lending rates, and the transmission mechanism of monetary policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial structure, bank lending rates, and the transmission mechanism of monetary policy write by Fondo Monetario Internacional. This book was released on 1994. Financial structure, bank lending rates, and the transmission mechanism of monetary policy available in PDF, EPUB and Kindle.
Financial Structure and Monetary Transmission in Europe
Financial Structure and Monetary Transmission in Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Structure and Monetary Transmission in Europe write by Gabe J. De Bondt. This book was released on 2000-01-01. Financial Structure and Monetary Transmission in Europe available in PDF, EPUB and Kindle. 'I can fully recommend this book to those interested in the transmission process of monetary policy.' - Harry Garretsen, De Economist Due to financial market imperfections it is imperative to analyse the relationship between financial structure and the monetary policy transmission process in Europe to effectively design and implement European monetary policy. Focusing on the years 1980-1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country differences in the monetary transmission process. The analysis of this is invaluable as differences in financial structures across EMU countries may hamper the implementation of a common European monetary policy in the future. The conclusion is that some elements of the financial structure are clearly relevant and applicable for European monetary policy and the monetary transmission process in particular.
