The DOI matches its Crossref record; 32 of the 32 references it cites were found in a registry or an index.
The influence of monetary policy on bank profitability
Open accessAbstract
This paper investigates how monetary policy affects bank profitability. We use data for 109 large international banks headquartered in 14 major advanced economies for the period 1995–2012. Overall, we find a positive relationship between the level of short‐term rates and the slope of the yield curve (the ‘interest rate structure’, for short), on the one hand, and bank profitability – return on assets – on the other. This suggests that the positive impact of the interest rate structure on net interest income dominates the negative one on loan loss provisions and on non‐interest income. We also find that the effect is stronger when the interest rate level is lower and the slope less steep, that is, when non‐linearities are present. All this suggests that, over time, unusually low interest rates and an unusually flat term structure erode bank profitability.
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Cites
Arellano, M., & Bond, S. (1991) · The Review of Economic Studies · doi:10.2307/2297968 · Cited by 33,272
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1998) · Journal of Econometrics · doi:10.1016/s0304-4076(98)00009-8 · Cited by 22,571
Another look at the instrumental variable estimation of error-components models
Arellano, M., & Bover, O. (1995) · Journal of Econometrics · doi:10.1016/0304-4076(94)01642-d · Cited by 19,880
Biases in dynamic models with fixed effects
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What Do a Million Observations on Banks Say About the Transmission of Monetary Policy?
Kashyap, A. K., & Stein, J. C. (2000) · American Economic Review · doi:10.1257/aer.90.3.407 · Cited by 2,495
Capital regulation, risk-taking and monetary policy: A missing link in the transmission mechanism?
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Self-citationMicroeconomics of BankingPreprint
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Zombie Lending and Depressed Restructuring in Japan
Caballero, R. J., Hoshi, T., & Kashyap, A. K. (2008) · American Economic Review · doi:10.1257/aer.98.5.1943 · Cited by 1,543
Determinants of Bank Profitability Before and During the Crisis: Evidence from Switzerland
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Metadata
- Authors
- Borio, C., Gambacorta, L., & Hofmann, B.
- Venue
- International Finance
- Publisher
- Wiley
- Published
- 2017-03
- Volume
- 20
- Issue
- 1
- Pages
- 48-63
- ISSN
- 1367-0271 (ISSN-L)
- 1468-2362
- OpenAlex
- W2192993715
- Cited by
- 444
- References
- 32
- FWCI
- 54.44
- Type
- journal article
- Language
- en
- Open access
- green
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- Borio, C., Gambacorta, L., & Hofmann, B. (2017). The influence of monetary policy on bank profitability. International Finance. https://doi.org/10.1111/infi.12104
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