Arbeitspapier
Money, credit, monetary policy and the business cycle in the euro area: What has changed since the crisis?
This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and long-term loans and deposits exceptionally low since the Lehman collapse. Instead, short-term interest rates and short-term loans and deposits did not show abnormal dynamics in the course of the financial and sovereign debt crisis.
- ISBN
-
978-92-899-3488-6
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 2226
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Money Supply; Credit; Money Multipliers
Monetary Policy
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Model Construction and Estimation
- Thema
-
Money
loans
non-financial corporations
monetary policy
euro area
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Giannone, Domenico
Lenza, Michele
Reichlin, Lucrezia
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2019
- DOI
-
doi:10.2866/32939
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Giannone, Domenico
- Lenza, Michele
- Reichlin, Lucrezia
- European Central Bank (ECB)
Entstanden
- 2019
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