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Money, credit, monetary policy, and the business cycle in the euro area: what has changed since the crisis?

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Bibliographic Details
Authors and Corporations: Giannone, Domenico (Author), Lenza, Michele (Author), Reichlin, Lucrezia (Author)
Other Authors: Lenza, Michele [Author] • Reichlin, Lucrezia [Author]
Type of Resource: E-Book
Language: English
published:
Series: Federal Reserve Bank of New York: Staff reports ; no. 885 (April 2019)
Subjects:
1992-2018
Konjunktur
Finanzintermediation
Geldpolitik
Geldmarkt
Kreditmarkt
Eurozone
Finanzkrise
Bank
Makroökonomisches Modell
USA
EU-Staaten
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: 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.
Physical Description: 1 Online-Ressource (circa 31 Seiten); Illustrationen