This study provides new evidence on the emergence of a single Eurozone retail banking market. Applying cointegration methodology, the empirical results indicate only limited evidence for integration before January 1, 1999. The introduction of the Euro manifests itself in structural breaks after which evidence for an emerging uniform Eurozone banking market is increasing. After investigating the interest pass-through we conclude that the single currency has the potential to "complete" the single market, however, not so much in the sense of cross-border arbitrage, but by means of a smooth and uniform pass-through process in the presence of a single monetary policy.
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Paper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number
060.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Balke, Nathan S & Fomby, Thomas B, 1997.
"Threshold Cointegration,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 627-45, August.
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