(the US, Germany and the UK). This novel methodology is based on dynamic factor models, the EM algorithm and the Kalman … reveal clear international dependency patterns, strong enough to improve forecasts of Germany and to a lesser extent UK. The …

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 …, particularly in Germany and the US, than savings and cooperative banks …