Monetary conditions and banks’ behaviour in the Czech Republic

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• dc.contributor.author Geršl, Adam
• dc.contributor.author Jakubik, Petr
• dc.contributor.author Kowalczyk, Dorota
• dc.contributor.author Ongena, Steven
• dc.contributor.author Peydró, José-Luis
• dc.date.accessioned 2020-03-03T09:28:47Z
• dc.date.available 2020-03-03T09:28:47Z
• dc.date.issued 2015
• dc.description.abstract This paper examines the impact of monetary conditions on the risk-taking behaviour of banks in the Czech Republic by analysing the comprehensive credit register of the Czech National Bank. Our duration analysis indicates that expansionary monetary conditions promote risk-taking among banks. At the same time, a lower interest rate during the life of a loan reduces its riskiness. While seeking to assess the association between banks’ appetite for risk and the short-term interest rate we answer a set of questions related to the difference between higher liquidity versus credit risk and the effect of the policy rate conditioned on bank and borrower characteristics.
• dc.description.sponsorship This work was supported by the Czech national Bank (Research Project No. C4/2009) and the Grant Agency of the Czech Republic projects GA CR No. 14-02108S and No. P402/12/G097).
• dc.format.mimetype application/pdf
• dc.identifier.citation Geršl A, Jakubik P, Kowalczyk D, Ongena S, Peydró JL. Monetary conditions and banks’ behaviour in the Czech Republic. Open Economies Review. 2015 Jul;26(3):407-45. DOI: 10.1007/s11079-015-9355-y
• dc.identifier.doi http://dx.doi.org/10.1007/s11079-015-9355-y
• dc.identifier.issn 0923-7992
• dc.identifier.uri http://hdl.handle.net/10230/43765
• dc.language.iso eng
• dc.publisher Nature Research
• dc.relation.ispartof Open Economies Review. 2015 Jul;26(3):407-45
• dc.rights © Springer Nature Publishing AG Geršl A, Jakubik P, Kowalczyk D, Ongena S, Peydró J-L. Monetary conditions and banks’ behaviour in the Czech Republic. Open Economies Review. 2015 Jul;26(3):407-45 http://dx.doi.org/10.1007/s11079-015-9355-y
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.subject.keyword Business cycle
• dc.subject.keyword Financial stability
• dc.subject.keyword Lending standards
• dc.subject.keyword Monetary policy
• dc.subject.keyword Risk-taking
• dc.subject.keyword Credit risk
• dc.title Monetary conditions and banks’ behaviour in the Czech Republic
• dc.type info:eu-repo/semantics/article
• dc.type.version info:eu-repo/semantics/acceptedVersion