Naslov
The bank lending channel in the European Economic and Monetary Union (EMU) and Croatia

Autori
Benazić, Manuel ; Učkar, Dean ; Tomić, Daniel

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
94th International Scientific Conference on Economic and Social Development and 11th OFEL Conference / Tipurić, Darko ; Marić, Matija - Varaždin : VADEA ; Sveučilište Sjever ; Centar za istraživanje i razvoj upravljanja (CIRU) ; Sveučilište u Dubrovniku, 2023, 73-84

Skup
The Dark Side of Management and Governance: power, ideology, tensions, and destructive traits

Mjesto i datum
Dubrovnik, Hrvatska, 31.03.2023. - 01.04.2023

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Bank lending channel ; Croatia ; EMU ; Monetary transmission ; Subset VAR model

Sažetak
The bank lending channel mechanism represents the monetary policy transmission channel used by central banks in implementing monetary policy along the interest rate channel, asset price channels and credit view-based channels. The purpose of the bank lending channel arises from the changes in the central bank's policy, i.e. when the bank increases reserves and deposits it raises the amount of bank loans granted for investment and spending purposes, thus affecting investments and consumption as a part of the real economy alignments. Therefore, the aim of this study is to explore the impact of the bank lending channel on the behavior of main economic variables such as real GDP and prices, as well as to identify possible differences in monetary transmission mechanisms between the EMU and Croatia. For that manner, the subset vector autoregressive (VAR) model is applied. The results indicate that the impact of loans/domestic credit on money M1, prices and real GDP is quite similar in the EMU and Croatia, which is not surprising considering that Croatia has been a member of the EU for many years, therein actively preparing for the introduction of the euro and membership in the EMU.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA