TY  - UNPD
A1  - Hense, Florian
T1  - Interest rate elasticity of bank loans: the case for sector-specific capital requirements
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 504
N2  - Empirical credit demand analysis undertaken at the aggregate level obscures potential behavioral heterogeneity between various borrowing sectors. Looking at disaggregated data and analyzing bank loans to non-financial companies, to financial companies, to households for consumption and for house purchases separately with respect to a common set of macroeconomic determinants may facilitate more accurate empirical relationships and more reliable insights for economic policy. Using quarterly Euro area panel data between 2003 and 2013, empirical evidence for heterogeneity in borrowing behavior across sectors and the credit cycle with respect to interest rates, output and house prices is found. The results motivate sector-specific, counter-cyclical capital requirements.
T3  - CFS working paper series - 504 
KW  - bank loans
KW  - disaggregation
KW  - interest rate elasticity
KW  - macro-prudential tools
Y1  - 2015
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/37485
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-374850
UR  - http://ssrn.com/abstract=2608483
IS  - February 26, 2015
PB  - Center for Financial Studies
CY  - Frankfurt, M.
ER  -