Table 15 Business cycle component- sensitivity analysis (cont’)
I | ||||||
Retail | ||||||
1980-2001 |
1980-1991 |
1991-2001 | ||||
Belgium |
2,06 |
[1,92; 2,24] |
1,48 |
[1,37; 2,29] |
2,32 |
[1,99; 2,40] |
Denmark |
3,23 |
[2,86; 4,21] |
2,85 |
[2,08; 4,29] |
4,05 |
[4,05; 5,36] |
Germany |
2,89 |
[2,85; 2,94] |
2,83 |
[2,82; 3,50] |
3,04 |
[2,52; 3,12] |
Greece |
na |
na |
na | |||
Spain |
1,02 |
[0,95; 4,87] |
1,12 |
[1,09; 5,29] |
0,94 |
[0,84; 4,54] |
France |
3,45 |
[2,24; 3,55] |
3,29 |
[2,36; 3,48] |
3,58 |
[2,13; 3,59] |
Ireland |
na |
na |
na | |||
Italy |
1,55 |
[1,55; 3,84] |
1,10 |
[1,04; 3,36] |
2,00 |
[2,00; 4,37] |
Luxembourg |
na |
na |
na | |||
Netherlands |
4,23 |
[4,16; 4,72] |
na |
3,94 |
[3,90; 4,43] | |
Austria |
1,76 |
[1,32; 1,76] |
na |
1,76 |
[1,14; 1,80] | |
Portugal |
na |
na |
na | |||
Finland |
2,12 |
[1,87; 2,12] |
2,28 |
[1,78; 2,28] |
2,08 |
[1,93; 2,12] |
Sweden |
1,38 |
[0,61; 1,38] |
1,95 |
[0,63; 1,97] |
1,13 |
[0,57; 1,19] |
United Kingdom |
6,54 |
[6,54; 7,43] |
7,42 |
[7,40; 8,70] |
3,12 |
[3,12; 3,38] |
Finance | ||||||
1980-2001 |
1980-1991 I |
1991-2001 | ||||
Belgium |
19,47 |
[16,30; 22,86] |
36,54 |
[30,90; 53,50] |
9,42 |
[6,53; 10,18] |
Denmark |
18,13 |
[11,73; 21,02] |
20,13 |
[11,74; 26,34] |
13,79 |
[11,68; 14,26] |
Germany |
6,20 |
[3,39; 6,24] |
5,30 |
[2,14; 5,82] |
8,20 |
[5,01; 8,20] |
Greece |
na |
na |
na | |||
Spain |
10,75 |
[8,94; 12,76] |
13,39 |
[10,64; 18,90] |
8,37 |
[7,07; 8,88] |
France |
8,56 |
[5,58; 10,17] |
6,20 |
[3,90; 6,26] |
9,90 |
[6,53; 12,61] |
Ireland |
na |
na |
na | |||
Italy |
4,70 |
[3,04; 5,27] |
5,82 |
[3,52; 9,04] |
3,45 |
[2,20; 3,52] |
Luxembourg |
na |
na |
na | |||
Netherlands |
6,33 |
[6,22; 7,53] |
na |
3,27 |
[3,11; 3,79] | |
Austria |
5,13 |
[1,40; 6,02] |
na |
5,47 |
[1,71; 6,23] | |
Portugal |
na |
na |
na | |||
Finland |
7,92 |
[6,41; 10,50] |
7,00 |
[4,67; 8,76] |
9,90 |
[8,81; 13,43] |
Sweden |
16,62 |
[4,53; 17,32] |
18,92 |
[2,80; 22,36] |
13,94 |
[6,13; 14,78] |
United Kingdom |
6,42 |
[6,32; 6,88] |
5,16 |
[5,04; 5,60] |
10,63 |
[9,74; 11,14] |
Business services | ||||||
1980-2001 |
1980-1991 |
1991-2001 | ||||
Belgium |
2,05 |
[1,78; 2,27] |
3,00 |
[2,37; 3,85] |
1,35 |
[1,11; 1,56] |
Denmark |
2,12 |
[2,12; 2,67] |
1,05 |
[0,99; 1,68] |
4,44 |
[3,89; 4,44] |
Germany |
1,40 |
[0,92; 1,44] |
1,12 |
[0,59; 1,33] |
1,55 |
[1,17; 1,55] |
Greece |
na |
na |
na | |||
Spain |
1,76 |
[1,50; 2,82] |
3,19 |
[2,59; 6,43] |
0,38 |
[0,29; 0,44] |
France |
1,38 |
[1,00; 1,41] |
1,29 |
[0,96; 1,45] |
1,46 |
[1,04; 1,48] |
Ireland |
na |
na |
na | |||
Italy |
1,50 |
[1,01; 1,68] |
1,50 |
[0,95; 1,82] |
1,31 |
[0,98; 1,39] |
Luxembourg |
na |
na |
na | |||
Netherlands |
3,07 |
[3,05; 3,22] |
na |
2,38 |
[2,22; 2,55] | |
Austria |
2,17 |
[0,63; 2,66] |
na |
2,24 |
[0,75; 2,70] | |
Portugal |
na |
na |
na | |||
Finland |
0,52 |
[0,45; 0,65] |
0,30 |
[0,28; 0,50] |
0,83 |
[0,66; 0,96] |
Sweden |
1,83 |
[0,75; 2,16] |
2,21 |
[0,63; 2,76] |
1,58 |
[0,88; 1,81] |
United Kingdom |
3,23 |
[3,22; 3,41] |
3,04 |
[3,03; 3,35] |
3,87 |
[3,45; 3,87] |
54
ECB
Occasional Paper No. 19
July 2004