Open Access

Deposit Channel of Monetary Policy in European Countries

 and   
Sep 19, 2024

Cite
Download Cover

Acharya, V. & Mora, N. (2015). A crisis of banks as liquidity providers. The Journal of Finance 2015, vol. 70, issue 1, pp.1-43. Search in Google Scholar

Awdeh, A. Jomaa, Z. & Kassem, M. (2020), The Effect of Bank Heterogeneity on the Interest Rate Channel in Lebanon. Journal of Central Banking Theory and Practice. VOLUME 9 (2020): ISSUE 1 (JANUARY 2020). DOI: https://doi.org/10.2478/jcbtp-2020-0005 Search in Google Scholar

Bain K. & Howells P. (2003), Monetary Economics: Policy and Its Theory Basis, Palgrave MacMillan, New York . Search in Google Scholar

Bank of England (2022), Official Bank Rate history. https://www.bankofengland.co.uk/statistics/details/further-details-about-wholesale-baserate-data Search in Google Scholar

Bean, C., Larsen, J. & Nikolov, K. (2003). Financial Frictions and Monetary Transmission Mechanism: Theory, Evidence and Policy Implications in Monetary Transmission in the Euro Area, Ed. Ignazio Angeloni and Benoit Mojon, Chapter 6, Cambridge University Press, pp. 107-130. Search in Google Scholar

Bernanke, B. & Blinder, A. (1988). Credit, Money, and Aggregate Demand, The American Economic Review, Vol. 78, No. 2, Papers and Proceedings of One Hundredth Annual Meeting of the American Economic Association, May 1988, pp. 435-439. Search in Google Scholar

Bernanke, B. & Gertler M. (1995). Inside the Black Box: The Credit Channel of Monetary Policy Transmission, NBER Working Paper Series, Working Paper No: 5146, June 1995, pp. 1-46. Search in Google Scholar

Bolton, P. & Freixas, X. (2006). Corporate Finance and the Monetary Transmission Mechanism, The Review of Financial Studies, Vol. 19, No. 3, pp. 829-870. Search in Google Scholar

Brunner K. & Meltzer A. (1972). Money, Debt and Economic Activity, Journal of Political Economy, Vol. 80, No. 5, pp.951-977. http://repository.cmu.edu/cgi/viewcontent.cgi?article=1659&context=tepper Search in Google Scholar

Çavuşoğlu, T. (2002). Credit Transmission Mechanism in Turkey: An Empirical Investigation, ERC Working Papers in Economics, 02/03, November 2002, pp. 1-31 Search in Google Scholar

Cecchetti, S. (1994). Distinguishing Theories of the Monetary Transmission Mechanism, Economic Policy Conference Federal Reserve Bank of St. Louis, October 20-21, 1994, pp.1-30. Search in Google Scholar

Central Bank of Montenegro (CBCG) (2023). Interest rates statistic. https://www.cbcg.me/en/statistics/statistical-data/interest-rates Search in Google Scholar

Chow, H. K. (2004). A Var Analysis of Singapore’s Monetary Transmission Mechanism, Singapore Management University Economics and Statistics, Working Paper Series, Paper No. 19-2004, September 2004, pp. 1-25. Search in Google Scholar

Drechsler, I., Savov, A. & Schnabl, F. (2016), The Deposits Channel of Monetary Search in Google Scholar

Policy. NBER Working Paper, No. 22152 April 2016. http://www.nber.org/system/files/working_papers/w22152/revisions/w22152.rev0.pdf Search in Google Scholar

ECB (2023). Key interest rates. https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html Search in Google Scholar

Egan, M., Hortacsu, A. & Matvos, G. (2015). Deposit competition and financial fragility: Evidence from the US banking sector. Chicago Booth Working Paper Search in Google Scholar

Fountas S. & Papagapitos A. (2001). The Monetary Transmission Mechanism: Evidence and Implications for European Monetary Union, Economics Letters, No. 70, pp. 397-404. Search in Google Scholar

Ghatak, S. & Spanjers, W. (2007). Monetary policy rules in transition economies: the impact of ambiguity, International Journal of Development Issues, Vol. 6 No. 1, pp. 26-37. https://doi.org/10.1108/14468950710830536 Search in Google Scholar

Górajski, M. & Kuchta, Z. (2022). Which hallmarks of optimal monetary policy rules matter in Poland? A stochastic dominance approach. Bank i Kredyt 53(2), 2022, рр. 149-182 https://bankikredyt.nbp.pl/content/2022/02/BIK_02_2022_01.pdf Search in Google Scholar

Hannan, T. & Berger, A. (1991). The rigidity of prices: Evidence from the banking industry, The American Economic Review 81, рр. 938–945. Search in Google Scholar

Hicks, J. (1936), Mr. Keynes and the ‘Classics’; A Suggested Interpretation. Econometric. https://www.jstor.org/stable/1907242?origin=crossref&seq=1 Search in Google Scholar

Ireland, P. (2005). The Monetary Transmission Mechanism, Federal Reserve Bank of Boston, Working Papers, No. 06-1, pp. 1-13. Search in Google Scholar

Kang-Landsberg, A. & Plosser, M. (2022). How Do Deposit Rates Respond to Monetary Policy? Federal Reserve Bank of New York Liberty Street Economics, November 21, 2022, https://libertystreeteconomics.newyorkfed.org/2022/11/howdo-deposit-rates-respond-to-monetary-policy/. Search in Google Scholar

Kashyap, A., Raghuram, R. & Stein, J. (2002). Banks as liquidity providers: An explanation for the coexistence of lending and deposit-taking, The Journal of Finance 57, рр. 33–73. Search in Google Scholar

Keynes, J. (1936). The General Theory of Employment, Interest, and Money, February 1936. https://www.files.ethz.ch/isn/125515/1366_keynestheoryofemployment.pdf Search in Google Scholar

Kimberly, A. (2022). Fed Funds Rate History: Its Highs, Lows, and Charts. Updated on December 14, 2022, https://www.thebalancemoney.com/fedfundsrate-history-highs-lows-3306135#toc-fed-funds-rate-history Search in Google Scholar

Loayza, N. & Schmidt-Hebbel, K. (2002). Monetary Policy Functions and Transmission Mechanisms: An Overview, Central Bank of Chile, Santiago, pp.1-20. https://econpapers.repec.org/bookchap/chbbcchsb/v04c01pp001-020.htm. Search in Google Scholar

Maliszewski, W. (2005). Monetary Policy in Transition Economies. PHD dissertation in economics, http://etheses.lse.ac.uk/2918/1/U615869.pdf Search in Google Scholar

Mishkin, F. (1995). Symposium on the Monetary Transmission Mechanism. Journal of economic perspectives, vol. 9, no. 4, Fall 1995, pp. 3-10. Search in Google Scholar

Nain, Z. and Kamaiah, B. (2020). Uncertainty and Effectiveness of Monetary Policy: A Bayesian Markov Switching-VAR Analysis. Journal of Central Banking Theory and Practice, Volume 9 (2020). Issue S1 (JULY 2020), page range: 237 – 265. DOI: https://doi.org/10.2478/jcbtp-2020-0030 Search in Google Scholar

Narodovi Bank Poland (2023), Monetary statistic. https://nbp.pl/statystykai-sprawozdawczosc/statystyka-monetarna-i-finansowa/statystyka-stop-procentowych/ Search in Google Scholar

National Bank of Ukraine (2022), Statistics of the financial sector, discount rate of the National Bank of Ukraine, https://bank.gov.ua/ua/monetary/stages/archiverish Search in Google Scholar

National Bank of Ukraine (2022), Statistics of the financial sector, cost of time deposits according to the statistical reporting of banks of Ukraine, file Percentlastb_DEP, https://bank.gov.ua/statistic/sector-financial#1ms Search in Google Scholar

National Bank of Ukraine (2022), Statistics of the financial sector, interest rates on new deposits of non-financial corporations by types of currencies and maturity dates, file 4- Financial markets, https://bank.gov.ua/ua/statistic/sector-financial#1ms Search in Google Scholar

National Bank of Ukraine (2022), Supervisory statistics, data of economic normatives, file Ratios_Banks, https://bank.gov.ua/ua/statistic/supervision-statist#2 Search in Google Scholar

Neumark, D. & Sharpe, S. (1992). Market structure and the nature of price rigidity: Evidence from the market for consumer deposits, Quarterly Journal of Economics 107, рр. 657–680. Search in Google Scholar

Przystupa, J. & Wróbel, E. (2016). Modelling monetary transmission in less developed emerging markets: the case of Tunisia, Bank i Kredyt, Vol. 47 No. 5 (2016), рр.391-434. https://bankikredyt.nbp.pl/ Search in Google Scholar

Repullo, R. (2020), The Deposits Channel of Monetary Policy: A Critical Review, CEPR Discussion Paper No. 15553. https://cepr.org/voxeu/columns/deposits-channel-monetary-policy-critical-review Search in Google Scholar

Stein, J. (2012). Monetary policy as financial stability regulation. The Quarterly Journal of Economics Vol. 127, рр. 57–95. Search in Google Scholar

Taylor, J. (1993). Discretion versus policy rules in practice, Carnegie-Rochester Conference Series on Public Policy, Vol. 39, pp. 195–214. Search in Google Scholar

Taylor, J. (1995). The Monetary Transmission Mechanism: An Empirical Framework, Journal of Economic Perspective, Vol. 9, Fall 1995, pp.11-26. Search in Google Scholar

Trading economics (2023), NBP reference rate. https://tradingeconomics.com/poland/interest-rate Search in Google Scholar

Westaway, P. (2004). Modelling the Transmission Mechanism of Monetary Policy in Monetary Transmission in Diverse Economies, Ed. Lavan Mahadeva and Peter Sinclair, Cambridge University Press, Cambridge, pp.156-166. Search in Google Scholar

Yildirim, D. C. and Turan, T. (2023), Revisiting of Interest Rate Channel: Nonlinear transmission of Monetary Policy Shocks to the Turkish Economy. Journal of Central Banking Theory and Practice. VOLUME 12 (2023): ISSUE 1 (JANUARY 2023) DOI: https://doi.org/10.2478/jcbtp-2023-0009 Search in Google Scholar

Language:
English
Publication timeframe:
3 times per year
Journal Subjects:
Business and Economics, Business Management, Business Management, other