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Banks' regulatory buffers, liquidity networks and monetary policy transmission

1st Person: Merkl, Christian
Additional Persons: Stolz, Stéphanie
Type of Publication: Paper
Language: English
Published: Kiel Institute for the World Economy (IfW) 2006
Series: Discussion Paper Series 2
Keywords: Transmissionsmechanismus
Bank
Eigenkapital
Bankenliquidität
Schätzung
Deutschland
Bank
Equity capital
Germany
Online: https://www.econstor.eu/bitstream/10419/3871/1/200606dkp_b.pdf
Description: 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 favor 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.

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