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Monetary Policy Transmission on the Banking Sector in the Euro Area – Abstract

Author

Listed:
  • Giorgio Di Giorgio

    (gdg@luiss.it)

  • Guido Traficante

    (European University of Rome)

Abstract

In this paper we assess the monetary policy transmission on the banking sector in the euro area, distinguishing between the dynamics within cooperative banks and in the whole banking sector. Our analysis is carried out through a VAR for France, Germany and Italy. We show that the interest rate channel is stronger in France and Germany and relatively less intense in Italy. We believe that this difference is due to the Italian productive structure, mainly characterized by small and medium companies that cannot easily find a substitute for banks’ loans. Also within cooperative banks, we find that the monetary policy transmission is heterogeneous. A monetary policy tightening determines a significant reduction only in the loans given by cooperative banks in France.

Suggested Citation

  • Giorgio Di Giorgio & Guido Traficante, 2014. "Monetary Policy Transmission on the Banking Sector in the Euro Area – Abstract," Rivista Bancaria - Minerva Bancaria, Istituto di Cultura Bancaria Francesco Parrillo, issue 1, January -.
    • Handle: RePEc:rvs:bancar:14_1_3
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    More about this item

    Keywords

    Monetary Policy; VAR; Banking Sector; Cooperative Banks;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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