This study aims at assessing empirically the determinants of changes in risk-weighted bank capital ratios in the 1990s in Germany, France, Italy, the Netherlands, the UK and the US. Both bank-specific characteristics, factors at the banking industry level and the degree of undercapitalization...

This article models industrial new orders across the European Union (EU) countries for various breakdowns. A common modelling framework exploits soft (business opinion surveys) as well as hard data (industrial turnover). The estimates show for about 200 cases that the model determinants...

Focusing on the years 1980–1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country...

This paper empirically examines the interest rate pass-through at the euro area level. The focus is on the pass-through of official interest rates, approximated by the overnight interest rate, to longer-term market interest rates, which, in turn, are a proxy for the marginal costs for banks to...

This study aims at assessing empirically the determinants of changes in risk-weighted bank capital ratios in the 1990s in Germany, France, Italy, the Netherlands, the UK and the US. Both bank-specific characteristics, factors at the banking industry level and the degree of undercapitalization...

This study focuses on the role of equity and labour markets for holding euro area money. Equity affects money demand positively through wealth effects (financial transaction motive) and negatively via substitution effects from the expected return on equity (speculative motive). A precautionary...

This paper empirically models China's stock prices using conventional fundamentals: corporate earnings, risk-free interest rate, and a proxy for equity risk premium. It uses the estimated long-run stock price misalignments to date booms and busts, and analyses equity market reforms and excess...

Timely and accurate signals about the current state of the economy are essential for analysts. The objective of the paper is to compare the accuracy of PMI-based nowcast of current quarter-on-quarter real GDP growth with that of the flash GDP estimateIn-sample regressions for 1998Q3-2011Q1...

Following the discontinuation of statistics on industrial new orders by Eurostat since the observation period March 2012, this paper presents the ECB indicator for euro area industrial new orders. This indicator aims to fill the emerged gap on euro area industrial new orders for various...

The balance sheet channel of monetary policy working through the euro area corporate bond market is important, as shown by empirical results based on different methods for the first two and a half years since the introduction of the euro. The external finance premium on corporate bonds reflects,...