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Senior bank loan officers' expectations for loan demand: Evidence from the Euro-area

Dimitris Anastasiou ()

MPRA Paper from University Library of Munich, Germany

Abstract: We employ senior bank loan officers' responses regarding actual and expected loan demand from enterprises linking successive surveys in order to determine the dominant expectation formation mechanism that best describes European senior bank loan officers’ expectations. We utilize quarterly data for loan demand from enterprises from the European Bank Lending Survey for 14 Euro-area countries spanning the period 2003Q1 to 2019Q4. Our findings suggest that the adaptive expectations mechanism is compatible with senior bank loan officers' expectations for loan demand from enterprises. Our study contributes to the understanding of the formation of loan demand expectations and hence our findings can be very useful for monetary policy purposes.

Keywords: Adaptive expectations; bank lending survey; loan demand; survey‐based expectations (search for similar items in EconPapers)
JEL-codes: C33 C5 D84 G2 G21 (search for similar items in EconPapers)
Date: 2020-01
New Economics Papers: this item is included in nep-ban, nep-eec and nep-mon
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