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Euro area banking sector integration : using hierarchical cluster analysis techniques

Sørensen, Christoffer Kok (contributor); … - 2006

In this study we apply cluster analysis techniques, including a novel smoothing method, to detect some basic patterns and trends in the euro area banking sector in terms of the degree of homogeneity of countries. We find that in the period 1998-2004 the banking sectors in the euro area countries...

Persistent link: https://www.econbiz.de/10003337152

The dynamics of bank spreads and financial structure

Gropp, Reint (contributor); … - 2007

This paper investigates the dynamics of the pass-through between market interest rates and bank interest rates in the euro area as a function of cyclical and structural differences in the financial system. We find that overall the speed of adjustment for loans is significantly faster than for...

Persistent link: https://www.econbiz.de/10003410596

A new approach to measuring competition in the loan markets of the euro area

Leuvensteijn, Michiel van; Bikker, Jacob A.; Rixtel, … - 2007

on the lending markets in the five major EU countries as well as, for comparison, the UK, the US and Japan. Bearing the …, whereas overall loan markets in Germany and Spain were among the best competitive in the EU. The Netherlands occupied a more …

Persistent link: https://www.econbiz.de/10003484173

Mortgage interest rate dispersion in the euro area

Sørensen, Christoffer Kok (contributor); … - 2007

Despite the remarkable economic and financial convergence over the last ten years in the euro area, mortgage interest rates still differ across countries. This note presents some stylised facts on the heterogeneity of mortgage interest rates across euro area countries on the basis of the...

Persistent link: https://www.econbiz.de/10003422842

The impact of supply constraints on bank lending in the euro area : crisis induced crunching?

Hempell, Hannah Sabine; Sørensen, Christoffer Kok - 2010

Aggregate loan development typically hinges on a combination of factors that impact simultaneously on the demand and the supply side of bank lending. The financial turmoil starting in mid-2007 had detrimental consequences for banks' balance-sheets, cost of funds and profitability, thus weighing...

Persistent link: https://www.econbiz.de/10008688512

Discretionary fiscal policy : review and estimates for the EU

Beetsma, Roel; Giuliodori, Massimo - 2010

provide our own estimates for the EU countries. A fiscal expansion raises output and consumption and reduces the trade balance … open EU economies, consistent with larger leakage effects. Further direct estimates suggest that fiscal expansions in large … EU economies have non-negligible consequences for economic activity in the main trading partners. This provides a …

Persistent link: https://www.econbiz.de/10003937804

Discretionary fiscal policies over the cycle : new evidence based on the ESCB disaggregated approach

Agnello, Luca; Cimadomo, Jacopo - 2009

This paper explores how discretionary fiscal policies on the revenue side of the government budget have reacted to economic fluctuations in European Union countries. For this purpose, it uses data on legislated revenue changes and structural indicators provided twice per year by National Central...

Persistent link: https://www.econbiz.de/10003969250

Do bank loans and credit standards have an effect on output? : a panel approach for the euro area

Cappiello, Lorenzo; Kadareja, Arjan; Sørensen, … - 2010

Applying the identification strategy employed by Driscoll (2004) for the United States, this paper provides empirical evidence for the existence of a bank lending channel of monetary policy transmission in the euro area. In addition, and in contrast to recent findings for the US, we find that in...

Persistent link: https://www.econbiz.de/10003970414

Pension systems, ageing and the stability and growth pact

Beetsma, Roel (contributor); Oksanen, Heikki (contributor) - 2007

Persistent link: https://www.econbiz.de/10003623944

Transmission of government spending shocks in the euro area : time variation and driving forces

Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010

This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...

Persistent link: https://www.econbiz.de/10003986626