Presentation of Ibolya SCHINDELE, BI Norwegian Business School. 25 June 2015  (14h00-15h00) at Toulouse Business School – (Room 002 – Bât. Bosco)

“In Lands of Foreign Currency Credit, Bank Lending Channels Run Through?” with S. Ongena and D. Vonnak

Abstract: We analyze the differential impact of domestic and foreign monetary policy on the local supply of bank credit in domestic and foreign currencies. We analyze a novel, supervisory dataset from Hungary that records all bank lending to firms including its currency denomination. Accounting for time-varying firm-specific heterogeneity in loan demand, we find that a lower domestic interest rate expands the supply of credit in the domestic but not in the foreign currency. A lower foreign interest rate on the other hand expands lending by lowly versus highly capitalized banks relatively more in the foreign than in the domestic currency.

Biographie: Ibolya Schindele has been employed as Associate Professor at the Department of Economics since 2011. In addition to BI, she is affiliated with the Central Bank of Hungary where she worked as senior researcher during 2012-2014 (while on leave from BI), and Toulouse Business School, where she taught as visiting associate professor in 2010 and has been a visiting scholar on a regular basis. Dr. Schindele obtained her Ph.D. in Financial Economics at the University of Amsterdam. Before joining the Department of Economics, she worked as Associate Professor at the Department of Financial Economics (BI) and also held a position as visiting scholar at the Swedish Institute for Financial Research (SIFR). Her research has been published in The Review of Financial Studies, Economics Letters, and the Journal of Banking and Finance.

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