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Author
Kil Krzysztof (Uniwersytet Ekonomiczny w Krakowie / Kolegium Ekonomii, Finansów i Prawa), Ślusarczyk Radosław (Uniwersytet Ekonomiczny w Krakowie / Kolegium Ekonomii, Finansów i Prawa)
Title
Analiza wpływu polityki stóp procentowych EBC na stabilność sektorów bankowych w wybranych krajach strefy euro - wnioski z kryzysu
The Analysis of Influence of the ECB Interest Rates' Policy on a Stability of Bank Sectors in Selected Countries of the Eurozone - Conclusions from the Crisis
Source
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 2013, nr 305, s. 334-347, rys., tab., bibliogr. 30 poz.
Research Papers of Wrocław University of Economics
Issue title
Ekonomia
Keyword
Reguła Taylora, Stopa procentowa, Strefa euro, Sektor bankowy
Taylor rule, Interest rate, Eurozone, Banking sector
Note
streszcz., summ.
Abstract
W opracowaniu wskazany został problem niedopasowania funkcjonującej przed kryzysem w strefie euro krótkookresowej stopy procentowej do wartości stopy procentowej wynikającej z reguły Taylora. Jak wykazano, wartość tej stopy była szczególnie zaniżona w krajach, które najbardziej odczuły skutki najnowszego kryzysu, tj. Grecji, Irlandii, Portugalii i Hiszpanii. Dokonując analizy stabilności sektorów bankowych wybranych krajów członkowskich strefy euro, wskazano, iż pomiędzy zmianą poziomu stabilności sektora bankowego w danym państwie w okresie kryzysu a wielkością odchylenia krótkookresowej stopy procentowej od reguły Taylora występuje statystycznie istotna zależność, co potwierdza słuszność hipotezy, iż polityka nadmiernie niskich stóp procentowych stanowi jeden ze znaczących (choć nie jedyny) czynnik zwiększenia ekspozycji na ryzyko kredytowe oraz płynności w sektorze bankowym.(abstrakt oryginalny)

The article points at the problem of the maladjustment of the short-term interest rate which functioned in the eurozone before the crisis to the value of the interest rate which results from the Taylor rule. As it is indicated, the value of this rate was lowered especially in the countries which mostly suffered from the latest crisis, i.e. in Greece, Ireland, Portugal and Spain. While analyzing the stability of bank sectors of the selected countries, it is pointed that there is a substantial correlation between a stability of bank sector in a given country and the size of a divergence of the short-term interest rate from the Taylor rule. Thus, it confirms the statement that the policy of the excessively low interest rates increases the appetite for a credit and market risk and liquidity in the bank sector.(original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
Bibliography
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ISSN
1899-3192
Language
pol
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