activity and monetary conditions originating in the Euro Area (EA) on output, prices, money, and interest rates in 10 CEE …

This paper assesses the effects of monetary policy shocks on the macroeconomy and the euro area banking sector after … study finds that unconventional monetary policy, in particular the Asset Purchase Program of the European Central Bank …, seems to have been more successful than conventional monetary policy in raising output and inflation. The desired boost to …

The financing structure of the euro area economy has evolved since the global financial crisis with non-bank financial … intermediation taking a more prominent role. This shift affects the transmission of monetary policy. Compared with banks, non …-bank financial intermediaries are more responsive to monetary policy measures that influence longer-term interest rates, such as …

We analyse the impact of macroeconomic and monetary policy shocks on corporate credit risk as measured by firms …' probabilities of default (PDs) for the four largest euro area countries. We estimate the impact of shocks on one-year PDs using … monetary policy shocks exert similar, but delayed effects. Firms' responses to shocks vary depending on their characteristics …

Since 2022 the European Central Bank and Danmarks Nationalbank have increased their key monetary policy rates at a … record pace. This study shows that the pass-through to retail rates has been stronger in Denmark than in the euro area so far … household cash-flow channel appears to have been stronger in Denmark compared to the euro area. …

channels of monetary policy in the euro area. When households have heterogeneous MPCs and balance sheets, three … the euro area the three redistribution channels enhance monetary policy - the effects of one time expansionary monetary … policy shocks in stimulating consumption are stronger than in models without heterogeneity. In the euro area, a 1 percent …

) for fiscal policy in the Euro area. We document an average MPC of 0.46 in the Euro area and illustrate its heterogeneity … effects across the members of the Euro area. Therefore, MPC heterogeneity matters for efficient policy design at the national … as well as multinational level. Additionally, we also highlight the role of MPC heterogeneity for monetary policy and …

channels of monetary policy in the euro area. When households have heterogeneous MPCs and balance sheets, three … the euro area the three redistribution channels enhance monetary policy - the effects of one time expansionary monetary … policy shocks in stimulating consumption are stronger than in models without heterogeneity. In the euro area, a 1 percent …

We analyse the impact of macroeconomic and monetary policy shocks on corporate credit risk as measured by firms …' probabilities of default (PDs) for the four largest euro area countries. We estimate the impact of shocks on one-year PDs using … monetary policy shocks exert similar, but delayed effects. Firms' responses to shocks vary depending on their characteristics …