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http://hdl.handle.net/10419/24780
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| Title: | | Integration benefits on EU retail credit markets: evidence from interest rate pass-through  |
| 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 EU |
| JEL: | | F23 E43 G15 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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