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Does it Pay to Watch Central Bankers' Lips? The Information Content of ECB Wording

Heinemann, Friedrich; Ullrich, Katrin - 2005

In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB?s communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...

Persistent link: https://www.econbiz.de/10010297482

Exchange rate regimes and fiscal discipline in OECD countries

Heinemann, Friedrich - 1999

estimation for 20 OECD countries from 1970 onwards. The conclusion is that the exchange rate regime as such is not relevant for …

Persistent link: https://www.econbiz.de/10010297607

Capital Mobility within EMU

Stirböck, Claudia; Heinemann, Friedrich - 1999

before the advent of the Euro. …

Persistent link: https://www.econbiz.de/10010297621

Is the View from the Eurotower Purely European? National Divergence and ECB Interest Rate Policy

Heinemann, Friedrich; Huefner, Felix P. - 2002

The official view on ECB monetary policy claims that monetary decisions are based solely on average data for the euro … reaction function estimations and a probit model of interest rate decisions for the first years of the euro area. The results … ignoring a potential national perspective may lead to a serious bias in the estimation of ECB reaction functions. The paper …

Persistent link: https://www.econbiz.de/10010297739

Integration benefits on EU retail credit markets: evidence from interest rate pass-through

Heinemann, Friedrich; Schüler, Martin - 2002

Lending and borrowing interest rates are often slow to adjust to changing capital market conditions. This paper argues that national differences of the pass-through speed in the EU can be regarded as a retail-oriented indicator of financial integration. Based on an ECB database the speed of...

Persistent link: https://www.econbiz.de/10010298095

How integrated are the European retail financial markets? A cointegration analysis

Heinemann, Friedrich; Schüler, Martin - 2002

With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are …

Persistent link: https://www.econbiz.de/10010298099

How integrated are the European retail financial markets? A cointegration analysis

Schüler, Martin; Heinemann, Friedrich - 2002

With the introduction of the euro, a single European money market has emerged. Further wholesale financial markets are …

Persistent link: https://www.econbiz.de/10010301768