Modelling the demand for loans to the private sector in the euro area

Applied Economics

Volumn 35, Issue 1, 2003, Pages 107-117

  Calza, A ^a   Gartner, C ^a   Sousa, J ^a  

^a EUROPEAN CENTRAL BANK   (Germany)

Author keywords

[No Author keywords available]

Indexed keywords

CREDIT PROVISION; GROSS DOMESTIC PRODUCT; INTEREST RATE; PRIVATE SECTOR;

EUROPE;

EID: 0037428278     PISSN: 00036846     EISSN: None     Source Type: Journal    
DOI: 10.1080/00036840210161837     Document Type: Article

References (23)

1. Bernanke, B. and Gertler, M. (1995) Inside the black box: the credit channel of monetary policy transmission, NBER working paper No. 5146.
2. Brand, C. and Cassola, N. (2000) A money demand system for euro area M3, ECB Working Paper No. 39, European Central Bank, Frankfurt.
3. Browne, F. X., Fagan, G. and Henry, J. (1997) Money demand in EU countries: a survey, European Monetary Institute Staff Paper No. 7.
4. Calza, A., Gartner, C. and Sousa, J. (2001) Modelling the demand for loans to the private sector in the euro area, ECB Working Paper No 55, European Central Bank, Frankfurt.
5. Coenen, G. and Vega, J.-L. (1999) The demand of M3 in the euro area, ECB Working Paper No 6, European Central Bank, Frankfurt.
6. De Bandt, O. and Jacquinot, P. (1992) The financing of corporate firms in France - an econometric model, Economic Modelling, (9), 253-69.
7. De Nederlandsche Bank (2000) EUROMON: The Nederlandsche Bank's multi-country model for policy analysis in Europe, Amsterdam, pp. 83-5.
8. Doornik, J. A. and Hendry, D. F. (1994) PcFiml 8.0 Interactive Econometric Modelling of Dynamic Systems, International Thomson Publishing, Oxford.
9. European Central Bank (1999) The balance sheets of the monetary financial institutions of the euro area in early 1999, ECB Monthly Bulletin, August, 56-70.
10. European Central Bank (2000) The euro area one year after the introduction of the euro: key characteristics and changes in the financial structure, ECB Monthly Bulletin, January, 35-49.
11. Fagan, G. and Henry, J. (1999) Long run money demand in the EU: evidence for area-wide aggregates, in Money Demand in Europe (Eds.) H. Lütkepohl and J. Wolters, Physica-Verlag, Heidelberg, pp. 241-58.
12. Fase M. M. G., Kramer, P. and Boeschoten, W. C. (1992) MORKMON II: The Nederlandsche Bank's quarterly model of The Netherlands economy, Economic Modelling, 9, 146-204.
13. Focarelli, D. and Rossi, P. (1998) La domanda di finanziamenti in Italia e nelle diverse aree del Paese (1984-1996), Temi di discussione del Servizio Studi di Banca d'Italia No. 333.
14. Friedman, B. and Kuttner, K. (1993) Economic activity and the short-term credit markets: an analysis of prices and quantities, Brookings Papers on Economic Activity, 2, 193-283.
15. Johansen, S. (1988) Statistical analysis of cointegrating vectors, Journal of Economic Dynamics and Control, 12, 231-54.
16. Johansen, S. (1991) Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models, Econometrica, 59, 1551-80.
17. Johansen, S. (1995) Likelihood-based Inference in Cointegrated Vector Autoregressive Models, Oxford University Press, Oxford.
18. Kakes, J. (2000) Identifying the mechanism: is there a bank lending channel of monetary transmission in The Netherlands, Applied Economics Letters, 7, 63-7.
19. Kashyap, A., Stein, J. and Wilcox, D. (1993) Monetary policy and credit conditions: evidence from the composition of external finance, American Economic Review, 83, 8-98.
20. Kwiatkowski, D., Phillips, P. C. B., Schmidt, P. and Shin, Y. (1992) Testing the null hypothesis of stationarity against the alternative of a unit root, Journal of Econometrics, 54, 159-78.
21. Manrique M. and Sáez, F. J. (1998) Un analisis desagregado de la demanda de activos líquidos y de la demanda de crédito de las familias y de las empresas no financieras, Banco de España, Boletín Económico, January.
22. MacKinnon, J. G. (1991) Critical values for cointegration tests, in Long-run Economic Relationships: Readings in Cointegration (Eds) R. F. Engle and C. W. J. Granger, Oxford University Press, Oxford, pp. 267-76.
23. Vega, J. L. (1989) Las variables de crédito en el mecanismo de transmisión de la politica monetaria: el caso español, Documento de trabajo del Banco de España No. 8902.