Titelaufnahme

Titel
Financial technologies and the effectiveness of monetary policy transmission / Iftekhar Hasan, Boreum Kwak, Xiang Li ; editor: Halle Institute for Economic Research (IWH) - Member of the Leibniz Association
VerfasserHasan, Iftekhar ; Kwak, Boreum ; Li, Xiang
KörperschaftLeibniz-Institut für Wirtschaftsforschung Halle
ErschienenHalle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [2023?]
Ausgabe
This version: August 25, 2023
Umfang1 Online-Ressource (III, 51, A18 Seiten, 2,28 MB) : Diagramme
SpracheEnglisch
SerieIWH-Diskussionspapiere ; 2020, no. 26 (December 2020) [rev.]
URNurn:nbn:de:gbv:3:2-982219 
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This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change concerning regional-level FinTech adoption. Results indicate that FinTech adoption generally mitigates the transmission of monetary policy to real GDP consumer prices bank loans and housing prices with the most significant impact observed in the weakened transmission to bank loan growth. The relaxed financial constraints regulatory arbitrage and intensified competition are the possible mechanisms underlying the mitigated transmission.