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dc.contributor.authorFrömmel, Michaelen_US
dc.contributor.authorSchmidt, Torstenen_US
dc.date.accessioned2009-01-28T15:48:51Z-
dc.date.available2009-01-28T15:48:51Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/18593-
dc.description.abstractWe examine the dynamics of bank lending to the private sector for countries of the Euro area by applying a Markov switching error correction model.We identify for Belgium, Germany, Ireland and Portugal stable, mean reverting regimes and unstable regimes with no tendency to return to the long term credit demand equation, whereas for some other countries there is only weak evidence. Furthermore, for these as well as for other countries we detect in the less stable regimes a strong co-movement with the development of the stock market. We interpret this as evidence for constraints in bank lending. In contrast, the banks? capital seems to have only marginal impact on the lending behaviour.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesRWI Discussion Papers 42en_US
dc.subject.jelC32en_US
dc.subject.jelG21en_US
dc.subject.ddc330en_US
dc.subject.keywordCredit demanden_US
dc.subject.keywordcredit rationingen_US
dc.subject.keywordasset pricesen_US
dc.subject.keywordcredit channelen_US
dc.subject.stwKreditgeschäften_US
dc.subject.stwCapital Asset Pricing Modelen_US
dc.subject.stwBörsenkriseen_US
dc.subject.stwAktienmarkten_US
dc.subject.stwBanken_US
dc.subject.stwSchätzungen_US
dc.subject.stwEU-Staatenen_US
dc.subject.stwÖsterreichen_US
dc.subject.stwBelgienen_US
dc.subject.stwFinnlanden_US
dc.subject.stwDeutschlanden_US
dc.subject.stwFrankreichen_US
dc.titleBank lending and asset prices in the Euro area.en_US
dc.typeWorking Paperen_US
dc.identifier.ppn512766223en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:RWI Discussion Papers
Publikationen von Forscherinnen und Forschern des RWI

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