International monetary policy spillovers through the bank funding channel

B-Tier
Journal: Journal of International Money and Finance
Year: 2019
Volume: 90
Issue: C
Pages: 161-174

Score contribution per author:

0.402 = (α=2.01 / 5 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In this paper, we examine the international transmission of monetary policies of major advanced economies (US, UK, euro area) through banks in Austria and Germany. In particular, we compare the role of banks’ funding structure, broken down by country of origin as well as by currency denomination, in the international transmission of monetary policy changes to bank lending. We find weak evidence for inward spillovers through a bank funding channel. The more a bank is funded in US dollars, the more its domestic real sector lending is affected by monetary policy changes in the US. This effect is more pronounced in Germany than in Austria. We do not find evidence for outward spillovers of euro area monetary policy.

Technical Details

RePEc Handle
repec:eee:jimfin:v:90:y:2019:i:c:p:161-174
Journal Field
International
Author Count
5
Added to Database
2026-01-25