Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/22454
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
Diskussionsbeitrag No. 342
Verlag: 
Universität Hannover, Wirtschaftswissenschaftliche Fakultät, Hannover
Zusammenfassung: 
We examine the dynamics of bank lending to the private sector for countries of the Euro area by applying a Markov switching error correction model. We identify for Belgium, Germany, Ireland and Portugal stable, mean reverting regimes and unstable regimes with no tendency to return to the long term credit demand equation, whereas for some other countries there is only weak evidence. Furthermore, for these as well as for other countries we detect in the less stable regimes a strong comovement with the development of the stock market. We interpret this as evidence for constraints in bank lending. In contrast, the banks? capital seems to have only marginal impact on the lending behaviour.
Schlagwörter: 
Bank lending
credit demand
Euro area
Markov switching error correction
credit channel
asset prices
credit rationing
JEL: 
G21
C32
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
137.06 kB





Publikationen in EconStor sind urheberrechtlich geschützt.