Industry Effects of Bank Lending in Germany
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Publication date
2011
Authors
Arnold, I.
Kool, Clemens
Raabe, K.
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Document Type
Working paper
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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.
Keywords
Monetary policy transmission, credit channel, industry structure, dynamic panel data
Citation
Arnold, I, Kool, C J M & Raabe, K 2011 'Industry Effects of Bank Lending in Germany' Discussion Paper Series / Tjalling C. Koopmans Research Institute, no. 21, vol. 11, UU USE Tjalling C. Koopmans Research Institute, Utrecht.