Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/18593 
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dc.contributor.authorFrömmel, Michaelen
dc.contributor.authorSchmidt, Torstenen
dc.date.accessioned2009-01-28T15:48:51Z-
dc.date.available2009-01-28T15:48:51Z-
dc.date.issued2006-
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
dc.language.isoengen
dc.publisher|aRheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) |cEssenen
dc.relation.ispartofseries|aRWI Discussion Papers |x42en
dc.subject.jelC32en
dc.subject.jelG21en
dc.subject.ddc330en
dc.subject.keywordCredit demanden
dc.subject.keywordcredit rationingen
dc.subject.keywordasset pricesen
dc.subject.keywordcredit channelen
dc.subject.stwKreditgeschäften
dc.subject.stwCapital Asset Pricing Modelen
dc.subject.stwBörsenkriseen
dc.subject.stwAktienmarkten
dc.subject.stwBanken
dc.subject.stwSchätzungen
dc.subject.stwEU-Staatenen
dc.subject.stwÖsterreichen
dc.subject.stwBelgienen
dc.subject.stwFinnlanden
dc.subject.stwDeutschlanden
dc.subject.stwFrankreichen
dc.titleBank Lending and Asset Prices in the Euro Area-
dc.typeWorking Paperen
dc.identifier.ppn512766223en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:rwidps:42en

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