Credit Constraints in the Euro Area? – Bankers' Perceptions
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Credit Constraints in the Euro Area? – Bankers' Perceptions
Analysis of First Results from the Bank Lending Survey of the Eurosystem
Credit and Capital Markets – Kredit und Kapital, Vol. 40 (2007), Iss. 1 : pp. 59–88
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Hannah Sabine Hempell, Frankfurt/M.
References
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Abstract
Subdued loan growth marked the beginning of this decade in the euro area and still prevails for Germany going along with the unavoidable regular emergence of the demon "credit crunch" - not only - in the press. New information on potential credit constraints are offered by the quarterly bank lending survey (BLS) of the euro system. From the micro data of this survey, we extract common driving factors impacting on changes in credit standards and in the demand for loans. Our findings do not support the aforementioned demon, however, we do find some indications for credit constraints. (JEL C20, E51, G21)