Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/154244 
Autor:innen: 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
ECB Working Paper No. 1811
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
In this study, we approximate the financial cycle in Europe by combining potential common and relevant financial indicators. We consider different credit aggregates and asset prices but also incorporate banking sector indicators for 11 European countries. We develop seven different synthetic financial cycle measures in order to best capture the characteristics of the financial cycle. We assess the various financial cycle measures using both graphical and statistical investigation techniques. The best fitted financial cycle measure includes the following financial ingredients: credit to GDP ratio, credit growth and house prices to income ratio. This study also highlights potential applications for the financial cycle measure in the macro-prudential policy context.
Schlagwörter: 
financial crises
financial cycle
financial regulation
medium-term
JEL: 
E30
E44
E61
G18
G28
ISBN: 
978-92-899-1624-0
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.29 MB





Publikationen in EconStor sind urheberrechtlich geschützt.