Financial Institutions’ Business Models and the Global Transmission of Monetary Policy

@inproceedings{Argimn2019FinancialIB,
  title={Financial Institutions’ Business Models and the Global Transmission of Monetary Policy},
  author={Isabel Argim{\'o}n and Clemens Bonner and Ricardo Cordeiro Correa and Patty Duijm and Jon Frost and Jakob de Haan and Leo J. de Haan and Viktors Stebunovs},
  year={2019}
}
Global financial institutions play an important role in channeling funds across countries and, therefore, transmitting monetary policy from one country to another. In this paper, we study whether such international transmission depends on financial institutions’ business models. In particular, we use Dutch, Spanish, and U.S. confidential supervisory data to test whether the transmission operates differently through banks, insurance companies, and pension funds. We find marked heterogeneity in… CONTINUE READING
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