The transmission of interest rate changes and the role of bank balance sheets: A VAR-analysis for the Netherlands

Journal of Macroeconomics

Volumn 20, Issue 2, 1998, Pages 325-339

  Garretsen, Harry ^a   Swank, Job ^b  

^a RADBOUD UNIVERSITY NIJMEGEN   (Netherlands)

^b The Netherlands Bank   (Netherlands)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0040083014     PISSN: 01640704     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0164-0704(98)00060-3     Document Type: Article

References (27)

1. Berk, Jan Marc, and Carlo C. A. Winder. "Price Movements in the Netherlands and the Guilder-Dmark Peg." De Economist 142 (1994): 63-74.
2. Bernanke, Ben S. "How Important is the Credit Channel in the Transmission of Monetary Policy?: A Comment." Carnegie-Rochester Conference Series on Public Policy 39 (1993): 47-52.
3. Bernanke, Ben S., and Alan S. Blinder. "The Federal Funds Rate and the Channels of Monetary Transmission." The American Economic Review 82 (1992): 901-21.
4. Bernanke, Ben S., and Mark Gertler. "Inside the Black Box: The Credit Channel of Monetary Policy Transmission." NBER Working Paper Series, no. 5146, Cambridge Mass., 1995.
5. Bikker, Jaap A. "Interdependence between the Netherlands and Germany: Forecasting with VAR Models." De Economist 141 (1993): 43-69.
6. Boeschoten, Willem C., and Peter J. A. van Els. "The Importance of Monetary Transmission." The Netherlands Bank Quarterly Bulletin March (1995): 87-102.
7. Buttiglione, Luigi, and Giovanni Ferri. "Monetary Policy Transmission via Lending Rates in Italy. Any Lessons from Recent Experience?" Banca d'Italia, Temi di Discussione del Servizio Studi, no. 224, Rome, 1994.
8. Dale, Spencer, and Andrew G. Haldane. "Interest Rates and the Channels of Monetary Transmission: Some Sectoral Estimates." European Economic Review 39 (1995): 1611-26.
9. Dickey, David A., and Sastry G. Pantula. "Determining the Order of Differencing in Autoregressive Processes" Journal of Business & Economic Statistics 5 (1987): 455-61.
10. Ees, Hans van, and Harry Garretsen. "Liquidity and Business Investment: Some Evidence from Dutch Panel Data." Journal of Macroeconomics 16 (1994): 613-28.
11. Escrivá, José-Luis, and Andrew G. Haldane. "The Interest Rate Transmission Mechanism: Sectoral Estimates for Spain." Banco de España, Servicio de Estudios, Documento de Trabajo, no. 9414, Madrid, 1994.
12. Friedman, Benjamin M., and Kenneth N. Kuttner. "Economic Activity and the Short-Term Credit Markets: An Analysis of Prices and Quantities." Brookings Papers on Economic Activity no. 2 (1993): 193-283.
13. Gerlach, Stephen, and Frank Smets. "The Monetary Transmission Mechanism: Evidence from the G7-Countries." Centre for Economic Policy Research, Discussion Paper, no. 1219, London, 1995.
14. Gertler, Mark, and Simon G. Gilchrist. "The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence." Scandinavian Journal of Economics 95 (1993): 43-64.
15. _. "Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms." The Quarterly Journal of Economics 109 (1994): 309-40.
16. Gilchrist, Simon G., and Egon Zakrajšek. "The Importance of Credit for Macroeconomic Activity." In Is Bank Lending Important for the Transmission of Monetary Policy?, edited by Joe Peek and Eric S. Rosengren. Federal Reserve Bank of Boston: Conference Series, no. 39, 1995.
17. Hubbard, R. Glenn. "Is there a 'Credit Channel' for Monetary Policy?" NBER Working Paper Series, no. 4977, Cambridge Mass., 1994.
18. Johansen, Søren. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models." Econometrica 59 (1991): 1551-80.
19. _. "Cointegration in Partial Systems and the Efficiency of Single-Equation Analysis." Journal of Econometrics 52 (1992): 389-402.
20. Kashyap, Anil K., and Jeremy C. Stein. "Monetary Policy and Bank Lending." NBER Working Paper Series, no. 4317, Cambridge Mass., 1993.
21. Kasman, Bruce. "A Comparison of Monetary Policy Operating Procedures in Six Industrial Countries." Federal Reserve Board of New York Quarterly Review 17 (1992): 5-24.
22. MacKinnon, James G. "Critical Values for Cointegration Tests." In Long-Run Economic Relationships: Readings in Cointegration, edited by Robert F. Engle and Clive W. J. Granger. New York: Oxford University Press, 1991.
23. Monplaisir, M. C., M. Kasumovich, P. Thurlow and R. Gupta. "Credit as a Transmission Mechanism for Monetary Policy in Canada." In Credit, Interest Rate Spreads and the Monetary Policy Transmission Mechanism. Proceedings of a Conference held in November 1994 at the Bank of Canada, 1995.
24. Ramey, Valerie. "How Important is the Credit Channel in the Transmission of Monetary Policy?" Carnegie-Rochester Conference Series on Public Policy 39 (1993): 1-45.
25. Robertson, D., and M. Wickens. "Var Modeling." In Applied Economic Forecasting Techniques, edited by S. G. Hall. New York: Harvester Wheatsheaf, 1994.
26. Sims, Christopher A. "Macroeconomics and Reality." Econometrica 48 (1980): 1-48.
27. Wellink, Arnout H. E. M. "The Relationship between the Netherlands and Germany: Lessons for the Future?" The Netherlands Bank Quarterly Bulletin 1993/I (1993): 10-15.