To whom do banks channel central bank funds?
DC Element | Wert | Sprache |
---|---|---|
dc.contributor.author | Bednarek, Peter | |
dc.contributor.author | Dinger, Valeriya | |
dc.contributor.author | te Kaat, Daniel Marcel | |
dc.contributor.author | von Westernhagen, Natalja | |
dc.date.accessioned | 2021-12-23T16:18:30Z | - |
dc.date.available | 2021-12-23T16:18:30Z | - |
dc.date.issued | 2021 | |
dc.identifier.issn | 03784266 | |
dc.identifier.uri | https://osnascholar.ub.uni-osnabrueck.de/handle/unios/12718 | - |
dc.description.abstract | This paper examines the relationship between central bank funding and credit risk-taking. Employing bank-firm-level data from the German credit registry during 2009:Q1-2014:Q4, we find that banks borrowing from the central bank rebalance their portfolios towards ex-ante riskier firms. We further establish that this effect is driven by the ECB's maturity extensions and that the risk-taking sensitivity of banks borrowing from the ECB is independent of idiosyncratic bank characteristics. Finally, we show that these shifts in bank lending are associated with an increase in firm-level investment and employment, but also with a deterioration of bank balance sheet quality in the following year. (c) 2021 Elsevier B.V. All rights reserved. | |
dc.language.iso | en | |
dc.publisher | ELSEVIER | |
dc.relation.ispartof | JOURNAL OF BANKING & FINANCE | |
dc.subject | Bank lending | |
dc.subject | Business & Economics | |
dc.subject | Business, Finance | |
dc.subject | COSTS | |
dc.subject | Credit risk-taking | |
dc.subject | CRISIS | |
dc.subject | DEBT | |
dc.subject | Economics | |
dc.subject | FIRM | |
dc.subject | IMPACT | |
dc.subject | LIQUIDITY | |
dc.subject | LTRO | |
dc.subject | Monetary policy | |
dc.subject | MONETARY-POLICY | |
dc.subject | Real effects | |
dc.subject | RISK-TAKING | |
dc.subject | TFP growth | |
dc.title | To whom do banks channel central bank funds? | |
dc.type | journal article | |
dc.identifier.doi | 10.1016/j.jbankfin.2021.106082 | |
dc.identifier.isi | ISI:000651871900007 | |
dc.description.volume | 128 | |
dc.contributor.orcid | 0000-0001-9879-554X | |
dc.identifier.eissn | 18726372 | |
dc.publisher.place | RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS | |
dcterms.isPartOf.abbreviation | J. Bank Financ. | |
crisitem.author.dept | FB 09 - Wirtschaftswissenschaften | - |
crisitem.author.deptid | fb09 | - |
crisitem.author.orcid | 0000-0001-8481-6047 | - |
crisitem.author.parentorg | Universität Osnabrück | - |
crisitem.author.netid | DiVa267 | - |
Seitenaufrufe
2
Letzte Woche
0
0
Letzter Monat
0
0
geprüft am 29.05.2024