Integration Benefits on EU Retail Credit Markets – Evidence from Interest Rate Pass-through


Heinemann, Friedrich ; Schüler, Martin


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URL: http://ub-madoc.bib.uni-mannheim.de/418
URN: urn:nbn:de:bsz:180-madoc-4185
Document Type: Working paper
Year of publication: 2002
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G15 F23 E43 ,
Subject headings (SWD): Europäische Union , Simulation , Europäische Integration , Kreditmarkt
Abstract: Lending and borrowing interest rates are often slow to adjust to changing capital market conditions. This paper argues that national differences of the pass-through speed in the EU can be regarded as a retail-oriented indicator of financial integration. Based on an ECB database the speed of interest rate adjustments for different markets and countries is measured - showing a considerable fragmentation of markets. Simulations show how much consumers in some countries could gain from a convergence of adjustment speed on the fastest levels.
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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Heinemann, Friedrich ; Schüler, Martin (2002) Integration Benefits on EU Retail Credit Markets – Evidence from Interest Rate Pass-through. Open Access [Working paper]
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