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Title:Integration benefits on EU retail credit markets: evidence from interest rate pass-through PDF Logo
Authors:Heinemann, Friedrich
Schüler, Martin
Issue Date:2002
Series/Report no.:ZEW Discussion Papers 02-26
Abstract:Lending and borrowing interest rates are often slow to adjust to changing capital market conditions. This paper argues that national differences of the pass-through speed in the EU can be regarded as a retail-oriented indicator of financial integration. Based on an ECB database the speed of interest rate adjustments for different markets and countries is measured - showing a considerable fragmentation of markets. Simulations show how much consumers in some countries could gain from a convergence of adjustment speed on the fastest levels.
Subjects:interest rate pass-through
financial market integration
Document Type:Working Paper
Appears in Collections:ZEW Discussion Papers, Zentrum für Europäische Wirtschaftsforschung (ZEW)
Publikationen von Forscherinnen und Forschern des Zentrums für Europäische Wirtschaftsforschung (ZEW)

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