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dc.contributor.authorFrömmel, Michaelen
dc.contributor.authorSchmidt, Torstenen
dc.date.accessioned2009-01-29T14:59:47Z-
dc.date.available2009-01-29T14:59:47Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/22454-
dc.description.abstractWe 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.en
dc.language.isoengen
dc.publisher|aUniversität Hannover, Wirtschaftswissenschaftliche Fakultät |cHannoveren
dc.relation.ispartofseries|aDiskussionsbeitrag |x342en
dc.subject.jelG21en
dc.subject.jelC32en
dc.subject.ddc330en
dc.subject.keywordBank lendingen
dc.subject.keywordcredit demanden
dc.subject.keywordEuro areaen
dc.subject.keywordMarkov switching error correctionen
dc.subject.keywordcredit channelen
dc.subject.keywordasset pricesen
dc.subject.keywordcredit rationingen
dc.titleBank Lending and Asset Prices in the Euro Area-
dc.typeWorking Paperen
dc.identifier.ppn514841109en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:han:dpaper:dp-342en

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