Journal article
Authors list: WINKER, P
Publication year: 1995
Pages: 154-174
Journal: Journal of Economics and Statistics
Volume number: 214
Issue number: 2
ISSN: 0021-4027
Publisher: De Gruyter Brill
Abstract:
Credit rationing is often considered as the outcome of asymmetric information between lenders and borrowers. The paper combines this aspect with a marginal price setting behavior of the banks. The resulting model describes adjustment processes between interbank rates, interest rates on deposits and on loans. Due to the non stationarity of the data, the model is estimated in error correction form allowing for distinguishing between short run dynamics and long run equilibrium. The derived hypothesis of a delayed adjustment of loan rates to changes in the interbank rates cannot be rejected with monthly data covering the sample 1975 to 1989.
Citation Styles
Harvard Citation style: WINKER, P. (1995) Die Trägheit von Zinssätzen und Kreditrationierung in der Bundesrepublik Deutschland, Jahrbücher für Nationalökonomie und Statistik - Journal of Economics and Statistics, 214(2), pp. 154-174
APA Citation style: WINKER, P. (1995). Die Trägheit von Zinssätzen und Kreditrationierung in der Bundesrepublik Deutschland. Jahrbücher für Nationalökonomie und Statistik - Journal of Economics and Statistics. 214(2), 154-174.
