RT Journal Article
T1 “Banking systems in the euro zone and transmission of monetary policy”
A1 Fernández Fernández, José Alejandro
AB This study examines the transmission of monetary policy in the eurozone from 2005 to 2021. The novelty of this research lies in defining the European Central Bank's monetary policy through three dimensions extracted via principal component analysis. These components, examined across various neural network models, enable the exploration of the heterogeneity of monetary policy within the Eurozone. Specifically, dimension 2, which represents the yield curve structure and the ECB's interventions in debt markets, serves to categorize the transmission of monetary policy into two groups of countries. The study concludes that variations in banking system characteristics such as margins and leverage, among others, lead to diverse outcomes in the transmission of monetary policy within the credit channel.
PB Sciencedirect
SN 1303-0701
YR 2024
FD 2024-03
LK https://hdl.handle.net/20.500.14352/114209
UL https://hdl.handle.net/20.500.14352/114209
LA eng
DS Docta Complutense
RD 9 abr 2025