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dc.contributor.authorHristov, Nikolayen_US
dc.contributor.authorHülsewig, Oliveren_US
dc.contributor.authorWollmershäuser, Timoen_US
dc.date.accessioned2012-10-23en_US
dc.date.accessioned2012-10-26T12:13:39Z-
dc.date.available2012-10-26T12:13:39Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/65660-
dc.description.abstractThis paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro-area banks to the global financial crisis. We focus on their interest-rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding is that the pass-through from changes in the money market rate to retail bank rates became significantly less complete during the crisis. Model simulations show that this result can be well explained by a significant increase in the frictions that the banks' business is subject to.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo Working Paper: Monetary Policy and International Finance 3964en_US
dc.subject.jelE40en_US
dc.subject.jelE43en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordEuro Areaen_US
dc.subject.keywordglobal financial crisisen_US
dc.subject.keywordinterest rate pass-throughen_US
dc.subject.keywordpanel vector autoregressive modelen_US
dc.subject.keywordsign restrictionsen_US
dc.subject.keywordstructural breaken_US
dc.subject.keywordDSGE modelen_US
dc.subject.stwInterest Rate Pass-Throughen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwSchätzungen_US
dc.subject.stwEurozoneen_US
dc.titleThe interest rate pass-through in the Euro area during the global financial crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn728268841en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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