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Using a unique dataset of the Euro area and the U.S. bank lending standards, we find that low (monetary policy) short …
Persistent link: https://www.econbiz.de/10013138019
unique Euro area bank lending surveys. Embedding this information within a standard VAR model, we find that: (1) the credit …) during the crisis, credit supply restrictions to firms in the Euro area and tighter standards for mortgage loans in the US …
Persistent link: https://www.econbiz.de/10013141032
structure of shadow banking within the euro area, using the statistical data sources available to the ECB/Eurosystem. Although … overall shadow banking activity in the euro area is smaller than in the United States, it is significant, at least in some … euro area countries. This is also broadly true for some of the components of shadow banking, particularly securitisation …
Persistent link: https://www.econbiz.de/10013113994
The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable … affected the transmission mechanism of the single Euro area monetary policy during the crisis until the end of 2011. The …
Persistent link: https://www.econbiz.de/10013085173
the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as …
Persistent link: https://www.econbiz.de/10012836176
Since the European Central Bank’s (ECB’s) 2003 strategy review, the importance of macro-financial amplification channels for monetary policy has increasingly gained recognition. This paper takes stock of this evolution and discusses the desirability of further incremental enhancements in the...
Persistent link: https://www.econbiz.de/10013210834
The financing structure of the euro area economy has evolved since the global financial crisis with non-bank financial … the euro area, which is still highly reliant on bank loans. Amid a low interest rate environment, the growth of market …
Persistent link: https://www.econbiz.de/10013210836
crisis, and of the provision of central bank liquidity during the crisis. Exploiting the euro area institutional setting for …
Persistent link: https://www.econbiz.de/10013080478
This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and … leading indicator for euro area bank credit and real GDP growth. Notwithstanding the short history of the survey, the findings …
Persistent link: https://www.econbiz.de/10013316257
This paper examines the macroeconomic consequences of future demographic trends for economic growth, financial markets and public finances. It shows that in the absence of reforms and responses by economic agents, the currently projected demographic trends imply a decline in average real GDP...
Persistent link: https://www.econbiz.de/10013317515