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Titel
Financial technologies and the effectiveness of monetary policy transmission / Iftekhar Hasan, Boreum Kwak, Xiang Li
VerfasserHasan, Iftekhar ; Kwak, Boreum ; Li, Xiang
ErschienenHalle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [08. Dezember 2020]
Umfang1 Online-Ressource (III, 57, A14 Seiten, 5,21 MB) : Diagramme
SpracheEnglisch
SerieIWH-Diskussionspapiere ; 2020, no. 26 (December 2020)
URNurn:nbn:de:gbv:3:2-129071 
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This study investigates whether and how financial technologies (FinTech) influencethe effectiveness of monetary policy transmission. We examine regional-level FinTech adoption and use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with FinTech adoption. The re-sults indicate that FinTech adoption generally enhances monetary policy transmis-sion to real GDP bank loans and housing prices while the evidence of transmission to consumer prices is mixed. A subcategorical analysis shows that the enhanced effectiveness is the most pronounced in the adoption of FinTech payment compared to that of insurance and credit.