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The Response of Euro Area Bank Lending Rates to the ECB Unconventional Monetary Policy

Post, Manon
(2017)

Files

Post_19920900_2017.pdf
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  • Adobe PDF
  • 2.19 MB
Post_19920900_2017_Annexe1.pdf
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  • 17.56 MB

Details

Supervisors
Iania, Leonardo
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion
Abstract
This thesis investigates the interest rate pass-through in Germany, Spain, France and Italy. Our objective is threefold. First, we aim to analyse how the transmission mechanism of monetary policy to bank lending rates has behaved during this period, while highlighting potential differences between core (Germany, France) and peripheral (Spain, Italy) countries. Second, we aim to assess the extent to which the recent unconventional monetary policy measures implemented by the European Central Bank have affected bank lending rates. Third, we investigate further the case of Italy and Spain considering that they were particularly impacted by the financial turmoil.