Publication: Unconventional monetary policy, competition and financial stability. Evidence from the Eurozone banks
Date
2020
Authors
Bakaikoa Pedrosa, Ane
Director
Publisher
Asociación Internacional de Economía Aplicada (ASEPELT)
Acceso abierto / Sarbide irekia
Artículo / Artikulua
Versión aceptada / Onetsi den bertsioa
Project identifier
ES/1PE/ECO2016-77631-R
Abstract
This article analyses the effects of the ECB’s negative interest rates (or unconventional) policy on the degree of banking competition, lending and deposit supply, and financial stability. Using a dataset comprising 191 Eurozone banks for the 2002Q1-2016Q4 period, our results suggest that negative interest rates (i) increase banks’ lending and deposit supply, (ii) reduce banking competition, and (iii) weaken financial stability. This phenomenon is economically more significant for periphery country banks than for core country banks.
Description
Keywords
Bank competition, Financial stability, Lending and deposit supply, Negative interest rates, Quantitative easing
Department
Gestión de Empresas / Enpresen Kudeaketa
Faculty/School
Degree
Doctorate program
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