This paper offers a comprehensive comparison of the structure of banking and financial markets in the euro area. Based on this, several hypotheses about the role of banks in monetary policy transmission are developed. Many of the predictions that have been proposed for the U.S. are deemed...

This paper aims at providing some empirical evidence about the impact of monetary policy on Kashyap and Stein (2000) using a panel data set comprising 312 banks observed quarterly over the period 1993-2000. We find that bank lending decreases after a monetary policy tightening. Moreover, as in...

[spa] Estimación de ganancias con datos de panel: caracter endógeno del capital humano y efectos de la selección, . por Yves Guillotin y Patrick Sevestre.. . El objectivo de este artículo es de analizar dos de las dificultades con las que se tropieza cuando se prétende realizar tests...

[spa] Negociaciones salariales y segmentación del mercado de trabajo, . por Pierre Cahuc, Patrick Sevestre, Hélène Zajdela.. . El presente artículo propone un modelo de negociaciones salariales capaz de explicar la segmentación del mercado de trabajo. Mediante la teoría de los juegos...

[spa] La indexación de los salarios : ? que tipo de rutpura para 1 982 ? . por Pierre Blanchard, Patrick Sevestre.. . ? Ha habido acaso un cambio de las modalidades de indexación de los salarios sobre los precios desde 1982 en Francia ? El présente estudio, realizado en base a datos sacados...

Using business survey data, we estimate an ordered probit model to explain the occurrence of producer price increases and decreases in the French manufacturing industry. Our results show that changes in intermediate input prices are the main driver of producer price changes. Changes in firms'...

We analyse the dynamics of the pass - through of banks’ marginal cost to bank lending rates over the 2008 crisis and the euro area sovereign debt crisis in France, Germany, Greece, Italy, Portugal and Spain . We measure banks’ marginal cost by their rate on new deposits, contrary to the...

This paper aims at providing some empirical evidence about the impact of monetary policy on bank lending at the microeconomic level. We estimate a model close to that proposed by Kashyap and Stein (2000) using a panel data set comprising 312 banks observed quarterly over the period 1993-2000. We...