Skip Navigation

This Article
Right arrow Full Text (PDF)
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Similar articles in ISI Web of Science
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrow Search for citing articles in:
ISI Web of Science (6)
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Chatelain, J.-B.
Right arrow Articles by Vermeulen, P.
Right arrow Search for Related Content
Related Collections
Right arrow E44 - Financial Markets and the Macroeconomy
Right arrow E52 - Monetary Policy (Targets, Instruments, and Effects)
Right arrow G31 - Capital Budgeting; Fixed Investment and Inventory Studies
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

Oxf Rev Econ Policy 2003; 19:73-83
© 2003 Oxford University Press and Oxford Review of Economic Policy Ltd

Article

New Findings on Firm Investment and Monetary Transmission in the Euro Area

Jean-Bernard Chatelain
Andrea Generale
Ignacio Hernando
Ulf von Kalckreuth
Philip Vermeulen
Banque de France, Université d'Orléans, and CEPREMAP
Banca d'Italia
Banco de España
Deutsche Bundesbank
European Central Bank

Abstract

In this paper we present comparative results on the determinants of firms' investment and their link to monetary policy. The results have been obtained by the Eurosystem Monetary Transmission Network. This network has produced a series of papers in which the use of micro data permits estimating and quantifying the relevance of two channels of monetary policy transmission: the interest-rate and the broad-credit channels. The research findings provide evidence of an operative interest-rate channel in all countries examined. Moreover, the results indicate that variables which proxy firms' financial conditions play a role. Firms characterized by weaker balance sheets show higher liquidity sensitivity.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?


This article has been cited by other articles:


Home page
 CESifo Economic StudiesHome page
P. Mizen and C. Yalcin
Monetary Policy, Corporate Financial Composition and Real Activity
CESifo Economic Studies, March 1, 2006; 52(1): 177 - 213.
[Abstract] [Full Text] [PDF]


Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.