Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24780
Authors: 
Heinemann, Friedrich
Schüler, Martin
Year of Publication: 
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

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