Loupias, Claire
[Verfasser:in]
;
Savignac, Frederique
[Sonstige Person, Familie und Körperschaft];
Sevestre, Patrick
[Sonstige Person, Familie und Körperschaft]
Is There a Bank Lending Channel in France? Evidence from Bank Panel Data
Erschienen in:Banque de France Working Paper ; No. 92
Umfang:
1 Online-Ressource (22 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.1728744
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 1, 2002 erstellt
Beschreibung:
The aim of this paper is to check the possible existence of a bank lending channel in France. For that purpose, we have estimated a dynamic reduced form model allowing for asymmetries in loan supply across banks, depending on their size, liquidity and capitalization. We have used a panel of 312 French banks observed quarterly over the period 1993-2000. We find some asymmetry between liquid and illiquid banks, the latter being more sensitive to a monetary policy tightening. This result is in accordance with that obtained for several other countries of the Euro area. It constitutes an indication that, as far as they can, French banks sell part of their liquid assets in order to shield their loan portfolio from the effects of increases in the interest rate. Contrary to what has been found for the US (e.g., see Kashyap and Stein (1995, 2000) and Kishan and Opiela (2000)), we do not find the two other banks' characteristics we consider (size and capitalization) to have any significant impact on bank lending