Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/101097
Authors: 
Kaufmann, Sylvia
Scharler, Johann
Year of Publication: 
2013
Series/Report no.: 
Working Papers in Economics and Statistics 2013-34
Abstract: 
We study the relationship between bank lending standards, loan growth and the business cycle in the euro area and the US within a vector error correciton model using Bayesian estimation methods. To deal with the short data series available for the euro area, we exploit information from the estimated US system to improve the estimation of the euro area system. We find that tighter bank lending standards are associated with lower loan growth as well as lower output growth in both areas. Differences in reactions appear in the strength and the persistence of responses.
Subjects: 
Bank Lending Standards
Bayesian Cointegration Analysis
JEL: 
E40
E50
Document Type: 
Working Paper

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