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history of honesty and a high level of central bank independence. According to our respondents, the Federal Reserve is the … most credible, transparent and independent central bank out of seven large central banks. The ECB is not perceived as …
Persistent link: https://www.econbiz.de/10011399168
central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the … included in our Taylor rule model, the ECB communication indicators remain significant. -- ECB ; central bank ; communication …
Persistent link: https://www.econbiz.de/10003872830
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size and voting power. One way to implement this principle is a rotation scheme for national central bank governors that …
Persistent link: https://www.econbiz.de/10011511101
This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...
Persistent link: https://www.econbiz.de/10011450560
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Persistent link: https://www.econbiz.de/10013257780
Using data for a large sample of banks from 31 OECD countries over 1995–2018, we analyze the impact of belonging to a banking group on banks’ net interest margins. Our results confirm a positive relationship between interest rates and interest margins, which is stronger in a low-interest...
Persistent link: https://www.econbiz.de/10012628790
Persistent link: https://www.econbiz.de/10003739567
This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...
Persistent link: https://www.econbiz.de/10011507830