liu, luke (2012): Monetary policy, bank size and bank lending: evidence from Australia(new version).
Download (453Kb) | Preview
This study explores how monetary policy changes flow through the banking sector in Australia. Drawing on data between 2004 and 2010, we divide banks into three groups according to their size, and examine the impact of cash rate change on lending of different types of loans. We found the response of bank lending after a monetary policy change varies with the size of the bank as well as the types of loan.
|Item Type:||MPRA Paper|
|Original Title:||Monetary policy, bank size and bank lending: evidence from Australia(new version)|
|English Title:||Monetary Policy, Bank size and Bank lending: Evidence from Australia(new version)|
|Keywords:||monetary policy; transmission mechanism; bank size|
|Subjects:||E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy
G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
|Depositing User:||Luke Liu|
|Date Deposited:||20. Mar 2012 14:19|
|Last Modified:||12. Feb 2013 15:16|
Altunbas, Y.,Fazylov, O. and Molyneux, P. (2002) 'Evidence on the Bank Lending Channel in Europe', Journal of Banking & Finance, 26, 2093-110.
Amemiya, T. and MaCurdy, T. E. (1986) 'Instrumental-Variable Estimation of an Error-Components Model', Econometrica, 54, 869-80.
Ashcraft, A. B. (2006) 'New Evidence on the Lending Channel', Journal of Money, Credit & Banking, 38, 751-75.
Becketti, S. and Morris, C. (1992) 'Are Bank Loans Still Special?', Economic Review - Federal Reserve Bank of Kansas City, 77, 71-83.
Berger, A. N. and Udell, G. F. (1998) 'The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle', Journal of Banking & Finance, 22, 613-73.
Berger, A. N. (2003) 'The Economic Effects of Technological Progress: Evidence from the Banking Industry', Journal of Money, Credit & Banking, 35, 141-76.
Bernanke, B. S. and Blinder, A. S. (1992) 'The Federal Funds Rate and the Channels of Monetary Transmission', The American Economic Review, 82, 901-21.
Buigut, S. (2010) 'Is There a Bank Lending Channel of Monetary Policy in Kenya?', International Research Journal of Finance and Economics, 182-91.
Chang Jui-Chuan and Dennis W. Jansen.( 2005) " The effect of monetary policy on bank lending and aggregate output: asymmetries from nonlinearities in the lending channel ", Annals of Economics and Finance, 6, 129–153.
Dungey, M. and Fry, R. (2010) "Fiscal and Monetary Policy in Australia: An SVAR Model." 1-30. Unpublished Working Paper.
Ehrmann, M.,Gambacorta, L.,Pagés, J. M.,Sevestre, P. and Worms, A. (2003) 'The Effects of Monetary Policy in the Euro Area', Oxford Review of Economic Policy, 19, 58-72.
Hausman, J. A. and Taylor, W. E. (1981) 'Panel Data and Unobservable Individual Effects', Econometrica, 49, 1377-98.
Kakes, J. and Sturm, J.-E. (2002) 'Monetary Policy and Bank Lending:: Evidence from German Banking Groups', Journal of Banking & Finance, 26, 2077-92.
Kashyap, A. K.,Stein, J. C. and Wilcox, D. W. (1993) 'Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance', The American Economic Review, 83, 78-98.
Kashyap, A. K. and Stein, J. C. (1995) 'The Impact of Monetary Policy on Bank Balance Sheets', Carnegie-Rochester Conference Series on Public Policy, 42, 151-95.
Kashyap, A. K. and Stein, J. C. (1997) 'The Role of Banks in Monetary Policy: A Survey with Implications for the European Monetary Union', Economic Perspectives: Federal Reserve Bank of Chicago, 2–18.
Kashyap, A. K. and Stein, J. C. (2000) 'What Do a Million Observations on Banks Say About the Transmission of Monetary Policy?', The American Economic Review, 90, 4-28.
Kishan, R. P. and Opiela, T. P. (2000) 'Bank Size, Bank Capital, and the Bank Lending Channel', Journal of Money, Credit and Banking, 32, 121-41.
Matousek, R. and Sarantis, N. (2009) 'The Bank Lending Channel and Monetary Transmission in Central and Eastern European Countries', Journal of Comparative Economics, 37, 321-34.
Ramlogan, C. (2004) 'The Transmission Mechanism of Monetary Policy: Evidence from the Caribbean', Journal of Economic Studies, 31, 435-47.
Reserve Bank of Australia (RBA). (2011) " About Monetary Policy," In. Canberra: Reserve Bank of Australia.
Suzuki, T. (2004) 'Is the Lending Channel of Monetary Policy Dominant in Australia?', Economic Record, 80, 145-56.
Wang Kuan-Min.(2010)“Expected and unexpected impulses of monetary policy on the interest pass-through mechanism in Asian countries”, Annals of Economics and Finance, 11, 95-137.