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Asymmetric Adjustment of Commercial Bank Interest Rates in the Euro Area : An Empirical Investigation into Interest Rate Pass-Through
Sander, Harald; Kleimeier, Stefanie - 2001
Our study extends the traditional pass-through literature by incorporating an error correction mechanism that is based on cointegration analyses allowing for structural breaks and symmetric as well as for a variety of asymmetric adjustment mechanisms. While some results of earlier pass-through...
Persistent link: https://www.econbiz.de/10014128699
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Asymmetric Adjustment of Commercial Bank Interest Rates in the Euro Area : An Empirical Investigation into Interest Rate Pass-Through
Sander, Harald; Kleimeier, Stefanie - 2001
This paper investigates the monetary transmission mechanism within the Euro area and is providing new evidence on the financial market side of the monetary mechanism in Europe. In particular, we examine the pass-through of money market rates to commercial bank lending rates by allowing for the...
Persistent link: https://www.econbiz.de/10014122856
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Does Fed Funds Target Interest Rate Lead Bank of England’s Bank Rate and European Central Bank’s Key Interest Rate?
Çelik, Sadullah; Deniz, Pinar - 2009
It has been a long debate whether Fed Funds target interest rate (FFTR) has significant explanatory power on interest rates in other countries. In this paper, we analyze the effects of FFTR on Bank of England (BOE) bank rate and European Central Bank (ECB) key interest rate employing - the...
Persistent link: https://www.econbiz.de/10014208847
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Structural and Cyclical Determinants of Bank Interest Rate Pass-Through in Eurozone
Leroy, Aurélien - 2016
This paper empirically investigates the evolution and the sources of interest rate pass-through heterogeneity in the Eurozone for a sample of 11 euro area countries over the period 2003M1-2011M12. Considering two harmonized bank retail rates, we first estimate single equation error correction...
Persistent link: https://www.econbiz.de/10013003901
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Structural and Cyclical Determinants of Bank Interest Rate Pass-Through in Eurozone
Leroy, Aurélien - 2015
This paper empirically investigates the evolution and the sources of interest rate pass-through heterogeneity in the Eurozone for a sample of 11 euro area countries over the period 2003M1-2011M12. Considering two harmonized bank retail rates, we first estimate single equation error correction...
Persistent link: https://www.econbiz.de/10013033203
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Der Geldwertstabilität verpflichtet
Geiger, Helmut - 1993
Persistent link: https://www.econbiz.de/10000347052
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Endogene Geldmenge und Bankenverhalten : eine theoretische und empirische Studie zur Mikrofundierung des Geldangebots in der Bundesrepublik Deutschland
Vathje, Sven-Olaf - 1998 - 1. Aufl
Die vorherrschende geldtheoretische Schule in Deutschland erklärt die Geldmenge als Produkt aus Basisgeldmenge und … des langfristigen Marktzinsniveaus und der Zinsstruktur durch die Bundesbank ab. -- Umfangreiche empirische Analysen für … Deutschland ergeben nachfolgend, daß die Zinselastizitäten zwar langfristig die theoretisch zu erwartenden negativen Vorzeichen …
Persistent link: https://www.econbiz.de/10014282154
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Capital market integration in Euroland : the role of banks
Buch, Claudia M. - 1999
The introduction of the euro marks a milestone in the process of European financial market integration. This paper analyzes the implications of the euro for cross-border banking activities. A portfolio model is used which captures the role of banks as providers of informational and of...
Persistent link: https://www.econbiz.de/10011475635
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Macroprudential policies at work : how do government-owned banks affect credit markets?
Capeleti, Paulo; Garcia, Márcio Gomes Pinto; Sanches, … - 2018
How countercyclical macroprudential credit policies affect the loan spread? To answer this question, we propose a microeconomic model of bank competition that contemplates differences in the behavior of public and private banks and the peculiarities of the market for corporate loans vis-a-vis...
Persistent link: https://www.econbiz.de/10011900116