Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Bonner, Clemens 

Working Paper
Financial Institutions’ Business Models and the Global Transmission of Monetary Policy
Global financial institutions play an important role in channeling funds across countries and, therefore, transmitting monetary policy from one country to another. In this paper, we study whether such international transmission depends on financial institutions' business models. In particular, we use Dutch, Spanish, and U.S. confidential supervisory data to test whether the transmission operates differently through banks, insurance companies, and pension funds. We find marked heterogeneity in the transmission of monetary policy across the three types of institutions, across the three banking systems, and across banks within each banking system. While insurance companies and pension funds do not transmit home-country monetary policy internationally, banks do, with the direction and strength of the transmission determined by their business models and balance sheet characteristics.
AUTHORS: Duijm, Patty; Frost, Jon; Haan, Jakob de; Haan, Leo de; Argimon, Isabel; Stebunovs, Viktors; Bonner, Clemens; Correa, Ricardo
DATE: 2018-05-29

FILTER BY Content Type

FILTER BY Author

Argimon, Isabel 1 items

Correa, Ricardo 1 items

Duijm, Patty 1 items

Frost, Jon 1 items

Haan, Jakob de 1 items

show more (3)

FILTER BY Jel Classification

E5 1 items

F3 1 items

F4 1 items

G2 1 items

PREVIOUS / NEXT