2013-2021 年欧元区银行的资产负债依赖性与非常规货币政策：规模是否重要？

IF 2.1 3区经济学 Q2 BUSINESS, FINANCE

European Financial Management Pub Date : 2024-05-04 DOI:10.1111/eufm.12493

Domenico Curcio, Stefano Dell'Atti, Igor Gianfrancesco, Stefania Sylos Labini

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引用次数: 0

摘要

我们以欧元区商业银行为样本，研究了 2013-2021 年间资产负债依存度的演变，这一时期的特点是货币、监管和制度政策措施的出台塑造了前所未有的商业环境。我们发现，与小型银行相比，大型银行表现出更强的资产负债依赖性，而且随着时间的推移，两类中介机构资产负债表两侧之间的联系普遍呈上升趋势。我们报告了非常规货币政策存在两种传导渠道的证据，即直接传递和投资组合再平衡。

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Euro area banks' asset-liability dependency and unconventional monetary policy over the years 2013–2021: Does size matter?

Focusing on a sample of euro area commercial banks, we investigate the evolution of the asset-liability dependency over the years 2013–2021, characterized by the introduction of monetary, supervisory and institutional policy measures that shaped a business environment never experienced before. We find that large banks show a stronger asset-liability dependency than small banks, and that the linkages between the two sides of the balance sheet experience a general upward trend over time for both groups of intermediaries. We report evidence of the presence of two transmission channels of the unconventional monetary policy, namely, the direct pass-through and the portfolio rebalancing.

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来源期刊

European Financial Management BUSINESS, FINANCE-

CiteScore

4.30

自引率

18.20%

发文量

期刊介绍： European Financial Management publishes the best research from around the world, providing a forum for both academics and practitioners concerned with the financial management of modern corporation and financial institutions. The journal publishes signficant new finance research on timely issues and highlights key trends in Europe in a clear and accessible way, with articles covering international research and practice that have direct or indirect bearing on Europe.