Alfred V. Guender, Mathias Moersch
Abstract
This paper analyses the credit channel of monetary policy in Germany. It finds little evidence for the existence fo a credit channel, while confirming the standard channel of monetary transmission which is working through bank liabilities.
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This paper analyses the credit channel of monetary policy in Germany. It finds little evidence for the existence fo a credit channel, while confirming the standard channel of monetary transmission which is working through bank liabilities.
Key concepts: Credit channel, Monetary policy, Channel (broadcasting), Monetary economics, Economics, Transmission channel, Transmission (telecommunications), Inflation targeting