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| Author: | Ehrmann, M. Worms, A. |
| Title: | Bank networks and monetary policy transmission |
| Journal: | Journal of the European Economic Association
2004 : DEC, VOL. 2:6, p. 1148-1171 |
| Index terms: | banking banks monetary policy networks |
| Language: | eng |
| Abstract: | It is argued here that the existence of bank networks is important for banks' reactions to monetary policy. For the example of Germany, it is found that small banks access the interbank market indirectly through the large head institutions of their respective network organizations. The interbank flows within these networks allow smaller banks to manage their funds in a fashion that helps them in keeping their loan portfolio with nonbanks relatively unaffected after a monetary contraction. |
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