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dc.contributor.authorApergis, Nicholas
dc.contributor.authorHayat, Tasawar
dc.contributor.authorSaeed, Tareq
dc.date.accessioned2020-05-22T15:56:41Z
dc.date.available2020-05-22T15:56:41Z
dc.date.issued2020-05-06
dc.identifier.citationApergis, N., Hayat, T. and Saeed, T. (2020). 'The monetary policy transmission mechanism and the role of money market funds in the Eurozone'. Economics Bulletin, 40(2), pp. 1249-1260.en_US
dc.identifier.issn1545-2921
dc.identifier.urihttp://hdl.handle.net/10545/624810
dc.description.abstractThis paper investigates the pass-through mechanism of monetary policy through money market funds and bank loan rates under conventional and unconventional monetary policy. Using the Autoregressive Distributed Lag method, spanning the period 2003-2018, the findings document that the pass-through of bank loan rates is weaker than that of MMF rates (0.642 vs 1.044, respectively), especially during the unconventional monetary policy period (0.637 vs 1.568, respectively). They highlight that in this period, banks earned less from traditional lending business, due to low or even negative rates, while taking increasingly large risks.en_US
dc.description.sponsorshipN/Aen_US
dc.language.isoenen_US
dc.publisherScimago Journalen_US
dc.relation.urlhttp://www.accessecon.com/pubs/eb/en_US
dc.relation.urlhttp://www.accessecon.com/Pubs/EB/2020/Volume40/EB-20-V40-I2-P106.pdfen_US
dc.rightsCC0 1.0 Universal*
dc.rights.urihttp://creativecommons.org/publicdomain/zero/1.0/*
dc.subjectResearch Subject Categories::SOCIAL SCIENCESen_US
dc.subjectmonetary policy, market funds, bank loans, autoagressive distributed lag methoden_US
dc.titleThe monetary policy transmission mechanism and the role of money market funds in the Eurozoneen_US
dc.typeArticleen_US
dc.contributor.departmentUniversity of Derbyen_US
dc.contributor.departmentKing Abdulaziz Universityen_US
dc.identifier.journalEconomics Bulletinen_US
dcterms.dateAccepted2020-05-05
dc.author.detail786373en_US


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CC0 1.0 Universal
Except where otherwise noted, this item's license is described as CC0 1.0 Universal