Interest rate elasticity of bank loans: the case for sector-specific capital requirements
- 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.
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| Verfasserangaben: | Florian Hense |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-374850 |
| URL: | http://ssrn.com/abstract=2608483 |
| ArXiv-Id: | http://arxiv.org/abs/10.2139/ssrn.2608483 |
| Titel des übergeordneten Werkes (Englisch): | Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 504 |
| Schriftenreihe (Bandnummer): | CFS working paper series (504) |
| Verlag: | Center for Financial Studies |
| Verlagsort: | Frankfurt, M. |
| Dokumentart: | Arbeitspapier |
| Sprache: | Englisch |
| Jahr der Fertigstellung: | 2015 |
| Jahr der Erstveröffentlichung: | 2015 |
| Veröffentlichende Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Datum der Freischaltung: | 02.06.2015 |
| Freies Schlagwort / Tag: | bank loans; disaggregation; interest rate elasticity; macro-prudential tools |
| Ausgabe / Heft: | February 26, 2015 |
| Seitenzahl: | 27 |
| HeBIS-PPN: | 361349874 |
| Institute: | Wirtschaftswissenschaften / Wirtschaftswissenschaften |
| Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS) | |
| DDC-Klassifikation: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Lizenz (Deutsch): |  Deutsches Urheberrecht |
