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dc.contributor.authorFrömmel, Michaelen_US
dc.contributor.authorSchmidt, Torstenen_US
dc.date.accessioned2009-01-29T14:59:47Z-
dc.date.available2009-01-29T14:59:47Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/22454-
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 comovement 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.ispartofseriesDiskussionspapiere des Fachbereichs Wirtschaftswissenschaften, Universität Hannover 342en_US
dc.subject.jelG21en_US
dc.subject.jelC32en_US
dc.subject.ddc330en_US
dc.subject.keywordBank lendingen_US
dc.subject.keywordcredit demanden_US
dc.subject.keywordEuro areaen_US
dc.subject.keywordMarkov switching error correctionen_US
dc.subject.keywordcredit channelen_US
dc.subject.keywordasset pricesen_US
dc.subject.keywordcredit rationingen_US
dc.titleBank Lending and Asset Prices in the Euro Areaen_US
dc.typeWorking Paperen_US
dc.identifier.ppn514841109en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover

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