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dc.contributor.authorHristov, Nikolayen
dc.contributor.authorHülsewig, Oliveren
dc.contributor.authorWollmershäuser, Timoen
dc.date.accessioned2012-10-23-
dc.date.accessioned2012-10-26T12:13:39Z-
dc.date.available2012-10-26T12:13:39Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3964en
dc.subject.jelE40en
dc.subject.jelE43en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordEuro Areaen
dc.subject.keywordglobal financial crisisen
dc.subject.keywordinterest rate pass-throughen
dc.subject.keywordpanel vector autoregressive modelen
dc.subject.keywordsign restrictionsen
dc.subject.keywordstructural breaken
dc.subject.keywordDSGE modelen
dc.subject.stwInterest Rate Pass-Throughen
dc.subject.stwFinanzmarktkriseen
dc.subject.stwSchätzungen
dc.subject.stwEurozoneen
dc.titleThe interest rate pass-through in the Euro area during the global financial crisis-
dc.typeWorking Paperen
dc.identifier.ppn728268841en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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