Industry Effects of Bank Lending in Germany

We investigate the industry dimension of bank lending and its role in the monetary transmission mechanism in Germany. We use dynamic panel methods to estimate bank lending functions for eight industries for the period 1992-2002. Our evidence shows that bank lending growth predominantly depends on the industry composition of bank loan portfolios, both through the underlying cyclical fluctuations in industry-specific bank credit demand and through industry-specific credit supply effects.Monetary policy transmission, credit channel, industry structure, dynamic panel data

Industries and the Bank Lending Effects of Bank Credit Demand and Monetary Policy in Germany

This paper presents evidence on the industry effects of bank lending in Germany and asks whether bank lending to single industries depends on industry-specific bank credit demand or on monetary policy as determinant of bank credit supply. To this end, we estimate individual bank lending functions for 17 manufacturing and non-manufacturing industries and five banking groups using quarterly bank balance sheet and bank lending data for the period 1992:1-2002:4. The evidence from dynamic panel data models illustrates that industry bank lending responds more to changes in industry-specific bank credit demand than to changes in monetary policy. We report evidence in favor of a credit channel through bank lending, but find the bank lending effects of monetary policy to be very sensitive to the choice of industry. The empirical results, hence, lend strong support to the existence of industry effects of bank lending. In view of this finding, we conclude that bank lending growth and monetary policy effectiveness crucially depend on the industry composition of bank credit portfolios.monetary economics ;

The feasibility of a fixed exchange rate regime for new EU-members: evidence from real exchange rates

In this paper, we estimate fundamental bilateral real exchange rates for a group of eight accession countries using a panel-cointegration approach for the period 1993-2003. We document a significant positive link between productivity levels and the corresponding real exchange rate levels. Future rises in productivity cannot be excluded on the basis of either our own analysis or the literature as a whole. Consequently, inflation pressure and real exchange rate appreciation in the accession countries probably remain a fact of life in the near future. The extent to which this is a problem for a fixed nominal exchange rate regime is hard to determine. Price dynamics in the accession countries are still quite flexible to accommodate substantial real exchange rate movements even when the nominal exchange rate is rather fixed; moreover, that price adjustment is mostly an internal process for the accession countries. Overall we conclude that a fixed exchange rate regime for each of the accession countries would be feasible in itself, despite possible future real exchange rate appreciations due to either the Balassa-Samuelson effect or demand shifts. We find current misalignments to be small, robust and generally in line with the literature. This implies current exchange rate levels provide a reasonable indication of the level at which a parity exchange rate could be set.international economics and trade ;

Industries and the bank lending effects of bank credit demand and monetary policy in Germany

This paper presents evidence on the industry effects of bank lending in Germany and identifies the industry effects of bank lending associated with changes in monetary policy and industryspecific bank credit demand. To this end, we estimate individual bank lending functions for 13 manufacturing and non-manufacturing industries and five banking groups using quarterly bank balance sheet and bank lending data for the period 1992:1-2002:4. The evidence from dynamic panel data models shows that industry-specific bank lending growth predominantly responds to changes in industry-specific bank credit demand rather than to changes in monetary policy. In fact, conclusions regarding the bank lending effects of monetary policy are very sensitive to the choice of industry. The empirical results lend strong support to the existence of industry effects of bank lending. Because industries are a prominent source of variation in the bank lending effects of bank credit demand and monetary policy, the paper concludes that the industry composition of bank credit portfolios is an important determinant of bank lending growth and monetary policy effectiveness. --Monetary policy transmission,credit channel,industry structure,dynamic panel data

Fernsehprogrammanalyse in der Perspektive kindlicher Fernsehnutzung. Methode des Projektes „Jährliche Bestandsaufnahme zum Kinderfernsehen – qualitative und quantitative Fernsehprogrammanalyse

Die Kasseler Arbeitsgruppe erhebt seit 1998 in einer jährlichen Stichprobe von drei Tagen einer Woche das Programm der für Kinder relevanten, in Deutschland lizenzierten Fernsehsender. Eine Datenbank verbindet die Sendedaten der einzelnen Programmelemente, die Kodierung und die dazugehörigen standardisierten Fernsehnutzungsdaten. Dabei geht es um die Frage, welche alltagsweltlichen massenmedialen Interpretationsangebote Kinder als Fernsehpublikum aufgreifen. Dazu werden Fernsehprogrammpräferenzen der Kinder als Zuschauergruppe mit Hilfe der vorliegenden Quoten der Fernsehbeteiligung erfasst. Diese Quoten repräsentieren quantitativ das Programmauswahlhandeln als Verknüpfungspunkt kindlicher Fernsehaneignung im Alltagsleben mit dem Fernsehangebot. Von den Programmpräferenzen ausgehend wird das Programmangebot qualitativ darauf hin untersucht, welche Vermittlungsmöglichkeiten in den Programmangeboten für das Verhältnis von Kindern zu sich und zu ihrer Umwelt angelegt sind. Dies geschieht in vier Arbeitsbereichen, in denen der mögliche Beitrag des Programmangebotes für die Persönlichkeitsentwicklung von Kindern sowie für die Orientierung in der Alltags- und Lebenswelt, in der "Welt der Dinge und Ereignisse" und in der "Welt der Kultur und der Medien" qualitativ bestimmt wird

Influence of Alveolar Ridge Morphology and Guide-hole Design on the Accuracy of Static Computer-Assisted Implant Surgery with two Implant Macro-designs: An in Vitro Study.

OBJECTIVES The primary aim of this in vitro study was to evaluate the influence of alveolar ridge morphologies on the accuracy of static Computer-Assisted Implant Surgery (sCAIS). The secondary aims were to evaluate the influence of guide-hole design and implant macro-design on the accuracy of the final implant position. METHODS Eighteen standardized partially edentulous maxillary models with two different types of alveolar ridge morphologies were used. Each model was scanned via cone beam computer tomography prior to implant placement and scanned with a laboratory scanner prior to and following implant placement using sCAIS. The postsurgical scans were superimposed on the initial treatment planning position to measure the deviations between planned and postsurgical implant positions. RESULTS Seventy-two implants were equally distributed to the study groups. Implants placed in healed alveolar ridges showed significantly lower mean deviations at the crest (0.36 ± 0.17 mm), apex (0.69 ± 0.36 mm), and angular deviation (1.86 ± 0.99°), compared to implants placed in fresh extraction sites (0.80 ± 0.29 mm, 1.61 ± 0.59 mm, and 4.33 ± 1.87°; all p<0.0001). Implants placed with a sleeveless guide-hole design demonstrated significantly lower apical (1.02 ± 0.66 mm) and angular (2.72 ± 1.93°) deviations compared to those placed with manufacturer's sleeves (1.27 ± 0.67 mm; p=0.01, and 3.46 ± 1.9°; p=0.02). Deep-threaded tapered bone level implants exhibited significantly lower deviations at the crest (0.49 ± 0.28 mm), apex (0.97 ± 0.63 mm), and angular deviations (2.63 ± 1.85°) compared to shallow-threaded parallel-walled bone level implants (0.67 ± 0.34 mm; p=0.0005, 1.32 ± 0.67 mm; p=0.003, and 3.56 ± 1.93°; p=0.01). CONCLUSIONS The accuracy of the final implant position with sCAIS is determined by the morphology of the alveolar ridge, the design of the guide holes, and the macrodesign of the implant. CLINICAL SIGNIFICANCE Higher accuracy in the final implant position was observed with implants placed in healed alveolar ridge morphologies, in implants with deep-threaded tapered macro-design, and when sleeveless surgical guide holes were used

Accuracy of keyless vs drill-key implant systems for static computer-assisted implant surgery using two guide-hole designs compared to freehand implant placement: an in vitro study.

PURPOSE This in vitro study aimed at comparing the accuracy of freehand implant placement with static computer-assisted implant surgery (sCAIS), utilizing a keyless and a drill-key implant system and two guide-hole designs. METHODS A total of 108 implants were placed in 18 partially edentulous maxillary models simulating two different alveolar ridge morphologies. 3D digital deviations between pre-planned and post-operative implant positions were obtained. Guide material reduction was assessed in the keyless implant system for the manufacturer's sleeve and sleeveless guide-hole designs. RESULTS sCAIS using a sleeveless guide-hole design demonstrated smaller mean angular, crestal and apical deviations compared to sCAIS utilizing a manufacturer's sleeve and the freehand group (2.6 ± 1.6°, vs 3.3 ± 1.9°, vs 4.0 ± 1.9°; 0.5 ± 0.3 mm, vs 0.6 ± 0.3 mm, vs 0.8 ± 0.3 mm; and 1.0 ± 0.5 mm, vs 1.2 ± 0.7 mm, vs 1.5 ± 0.6 mm). Smaller angular and apical mean deviations were observed in the keyless implant system as compared with the drill-key implant system (3.1 ± 1.7°, vs 3.5 ± 1.9°, p = 0.03; and 1.2 ± 0.6 mm, vs 1.4 ± 0.7 mm, p = 0.045). Overall, smaller angular, crestal, and apical deviations (p < 0.0001) were observed in healed alveolar ridges (2.4 ± 1.7°, 0.5 ± 0.3 mm, and 0.9 ± 0.5 mm) than in extraction sockets (4.2 ± 1.6°, 0.8 ± 0.3 mm, and 1.6 ± 0.5 mm). Higher mean volumetric material reduction was observed in sleeveless than in manufacturer's sleeve guide-holes (- 0.10 ± 0.15 mm3, vs - 0.03 ± 0.03 mm3, p = 0.006). CONCLUSIONS Higher final implant positional accuracy was observed in sCAIS for the keyless implant system, with a sleeveless guide-hole design, and in healed ridges. Sleeveless guide holes resulted in higher volumetric material reduction compared with the manufacturer's sleeve

Long-term effectiveness of 6 mm micro-rough implants in various indications: A 4.6- to 18.2-year retrospective study.

OBJECTIVES To evaluate the long-term effectiveness of 6 mm implants in various indications with a micro-rough surface after 4.6-18.2 years in function and to assess key factors associated with implant survival, success, and biologic/technical complications. MATERIALS AND METHODS Fifty-five patients with seventy-four 6 mm implants placed from 2000 to 2013 attended the re-examination assessing well-established clinical and radiographic parameters, biologic and prosthetic complications, and patient-reported outcome measures. RESULTS Five implants were lost after a mean follow-up period of 9.1 years resulting in a survival rate of 93.2%. All losses occurred in free-end situations in the mandible. Smoking habit significantly reduced implant survival (hazard ratio 36.25). Two implants exhibited a history of peri-implantitis, and one implant showed progressive marginal bone loss (MBL) resulting in a success rate of 89.2%. The mean MBL amounted to 0.029 mm. Increased MBL was found for implants placed in the maxilla (0.057 mm) and for implants with a diameter of 4.1 mm (0.043 mm). Soft tissue thickness (1.39 mm) and width of keratinized mucosa (1.91 mm) had no effect on MBL. Patient-reported outcome measures showed high satisfaction (mean VAS scores 88%) and high quality of life (mean OHIP-G14 score 2.2). CONCLUSION The present study demonstrated survival and success rates of 93.2% and 89.2% for 6 mm implants used in various indications. A factor leading to higher implant failure was smoking, whereas modulating factors increasing annual MBL included implants placed in the maxilla and implants with a diameter of 4.1 mm compared to 4.8 mm

Accuracy of implant placement in the posterior maxillary region depending on the alveolar residual bone height and sinus morphology: An in vitro study.

OBJECTIVES The primary aim of this in vitro study was to assess the effect of alveolar residual bone height in the posterior maxilla on the accuracy of the final implant position via free-handed and static Computer-Assisted Implant Placement (sCAIP). The secondary aim was to evaluate the influence of the maxillary sinus morphology on the accuracy of final implant position. MATERIALS AND METHODS Partially edentulous standardized maxillary models simulating three different residual bone heights and different sinus floor morphologies were investigated. One-hundred eighty equally distributed implants, which were placed either free-handed or sCAIP, constituted the study sample. 3D digital deviations were obtained by superimposing the post-surgical scans on the initial treatment plan. RESULTS Angular and linear deviation assessment demonstrated higher implant position accuracy in the sCAIP group. sCAIP revealed similar outcomes independently of the alveolar bone height and sinus floor morphology. Contrarily, in the free-handed group, alveolar bone height and sinus morphology statistically affected the final implant position. Non-parametric three-way ANOVA showed significance for implant placement protocol (p < .0001) and alveolar bone height (p ≤ .02) when angular, and linear deviations were evaluated. Sinus morphology was statistically significantly associated with angular deviation (p = .0009). CONCLUSIONS sCAIP demonstrated higher 3D implant position accuracy. Alveolar bone height (strongly) and sinus morphology are associated with the accuracy of final implant position when the free-handed implant protocol is followed. However, these anatomical factors did not affect final implant position during sCAIP