Abstract
We investigate the industry dimension of bank lending and its role in the
monetary transmission mechanism in Germany. We use dynamic panel methods to
estimate bank lending functions for eight industries for the period 1992-2002. Our
evidence shows that bank lending growth predominantly depends on the industry
composition of bank loan portfolios, both through the underlying cyclical fluctuations
in industry-specific bank credit demand and through industry-specific credit supply
effects.
monetary transmission mechanism in Germany. We use dynamic panel methods to
estimate bank lending functions for eight industries for the period 1992-2002. Our
evidence shows that bank lending growth predominantly depends on the industry
composition of bank loan portfolios, both through the underlying cyclical fluctuations
in industry-specific bank credit demand and through industry-specific credit supply
effects.
| Original language | English |
|---|---|
| Place of Publication | Utrecht |
| Publisher | UU USE Tjalling C. Koopmans Research Institute |
| Number of pages | 25 |
| Publication status | Published - 2011 |
Publication series
| Name | Discussion Paper Series / Tjalling C. Koopmans Research Institute |
|---|---|
| No. | 21 |
| Volume | 11 |
| ISSN (Electronic) | 2666-8238 |
Keywords
- Monetary policy transmission
- credit channel
- industry structure
- dynamic panel data